United Capital Financial Advisors LLC acquired a new stake in shares of AMETEK, Inc. (NYSE:AME – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,688 shares of the technology company’s stock, valued at approximately $1,376,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Equitable Holdings Inc. purchased a new stake in shares of AMETEK in the second quarter valued at $1,257,000. Jefferies Financial Group Inc. bought a new position in AMETEK during the 2nd quarter valued at about $30,366,000. Public Employees Retirement System of Ohio purchased a new stake in AMETEK in the 2nd quarter worth about $26,506,000. MASTERINVEST Kapitalanlage GmbH bought a new stake in AMETEK in the second quarter worth about $449,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of AMETEK during the second quarter valued at approximately $399,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.
AMETEK Price Performance
NYSE AME opened at $236.66 on Friday. The company has a market cap of $54.24 billion, a PE ratio of 34.60, a P/E/G ratio of 3.02 and a beta of 0.98. The firm’s 50 day moving average price is $241.73 and its 200-day moving average price is $232.42. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.76 and a current ratio of 1.21. AMETEK, Inc. has a 52-week low of $179.24 and a 52-week high of $261.16.
AMETEK Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.34 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.6%. AMETEK’s payout ratio is currently 19.88%.
Insider Buying and Selling at AMETEK
In other AMETEK news, insider David F. Hermance sold 6,608 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $254.00, for a total value of $1,678,432.00. Following the completion of the sale, the insider directly owned 42,509 shares in the company, valued at $10,797,286. This trade represents a 13.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.54% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on AME shares. Wall Street Zen cut AMETEK from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. TD Cowen reissued a “buy” rating on shares of AMETEK in a research note on Thursday, August 6th. KeyCorp upped their price target on shares of AMETEK from $260.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Rothschild & Co Redburn set a $265.00 price objective on shares of AMETEK in a report on Thursday, June 18th. Finally, Truist Financial upped their target price on shares of AMETEK from $303.00 to $316.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $266.80.
Check Out Our Latest Research Report on AME
AMETEK Profile
AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.
The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.
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