Raymond James Trust N.A. Buys 467 Shares of AMETEK, Inc. (NYSE:AME)

Raymond James Trust N.A. boosted its stake in AMETEK, Inc. (NYSE:AME) by 4.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,935 shares of the technology company’s stock after acquiring an additional 467 shares during the period. Raymond James Trust N.A.’s holdings in AMETEK were worth $1,706,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its stake in AMETEK by 34.6% in the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after purchasing an additional 926,657 shares during the last quarter. Meridiem Investment Management Ltd. purchased a new position in shares of AMETEK during the 3rd quarter valued at $130,579,000. Principal Financial Group Inc. grew its stake in shares of AMETEK by 72.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock worth $288,526,000 after acquiring an additional 703,501 shares during the period. James Hambro & Partners LLP purchased a new stake in AMETEK in the 3rd quarter worth about $60,188,000. Finally, Ceredex Value Advisors LLC bought a new stake in AMETEK in the 3rd quarter valued at about $40,811,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on AME. KeyCorp lifted their target price on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday. Mizuho lifted their price objective on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Royal Bank of Canada dropped their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Robert W. Baird lifted their price target on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, Truist Financial increased their price objective on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $199.29.

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the sale, the insider now directly owns 36,731 shares of the company’s stock, valued at approximately $7,015,253.69. This trade represents a 14.53 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

AMETEK Trading Up 0.8 %

AMETEK stock opened at $197.38 on Friday. The stock has a market cap of $45.66 billion, a P/E ratio of 34.39, a PEG ratio of 3.19 and a beta of 1.16. AMETEK, Inc. has a fifty-two week low of $149.03 and a fifty-two week high of $197.83. The firm’s fifty day moving average price is $176.46 and its 200-day moving average price is $170.71. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the firm posted $1.64 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts forecast that AMETEK, Inc. will post 6.8 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.28 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a yield of 0.57%. AMETEK’s dividend payout ratio is presently 19.51%.

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.