Blue Trust Inc. Buys 810 Shares of AMETEK, Inc. (NYSE:AME)

Blue Trust Inc. boosted its stake in AMETEK, Inc. (NYSE:AME) by 58.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,198 shares of the technology company’s stock after acquiring an additional 810 shares during the quarter. Blue Trust Inc.’s holdings in AMETEK were worth $366,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. lifted its holdings in shares of AMETEK by 2.3% in the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 390,328 shares of the technology company’s stock valued at $67,074,000 after purchasing an additional 8,705 shares in the last quarter. Net Worth Advisory Group bought a new stake in AMETEK in the 3rd quarter valued at approximately $815,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in AMETEK by 7.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 36,620 shares of the technology company’s stock worth $6,288,000 after acquiring an additional 2,522 shares during the last quarter. Marshall Financial Group LLC grew its stake in shares of AMETEK by 1.3% during the 3rd quarter. Marshall Financial Group LLC now owns 6,914 shares of the technology company’s stock worth $1,187,000 after acquiring an additional 89 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its holdings in shares of AMETEK by 1.7% in the third quarter. Bleakley Financial Group LLC now owns 13,411 shares of the technology company’s stock valued at $2,303,000 after purchasing an additional 225 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Trading Down 1.0 %

AME stock opened at $166.67 on Thursday. The company has a fifty day moving average price of $168.26 and a two-hundred day moving average price of $169.35. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76. The stock has a market cap of $38.58 billion, a price-to-earnings ratio of 29.29, a price-to-earnings-growth ratio of 2.77 and a beta of 1.17. AMETEK, Inc. has a one year low of $136.89 and a one year high of $186.32.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the firm earned $1.57 EPS. The business’s revenue was up 5.4% on a year-over-year basis. Equities analysts anticipate that AMETEK, Inc. will post 6.76 EPS for the current year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.28 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.12 annualized dividend and a yield of 0.67%. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. TD Cowen downgraded shares of AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Robert W. Baird lowered their target price on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Truist Financial increased their price target on AMETEK from $201.00 to $219.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AMETEK presently has an average rating of “Moderate Buy” and a consensus target price of $193.29.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.61% of the company’s stock.

AMETEK Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in the North America, Europe, Asia, and South America, and internationally. The company's EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets; power quality monitoring and c devices, uninterruptible power supplies, programmable power and electromagnetic compatibility test equipment, and sensors for gas turbines and dashboard instruments; heavy trucks, instrumentation, and controls for the food and beverage industries; and aircraft and engine sensors, power supplies, embedded computing, monitoring, fuel and fluid measurement, and data acquisition systems for aerospace and defense industry.