Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys New Holdings in AMETEK, Inc. (NYSE:AME)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in AMETEK, Inc. (NYSE:AME) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 1,446 shares of the technology company’s stock, valued at approximately $238,000.

Other hedge funds have also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. bought a new position in shares of AMETEK in the 4th quarter worth $25,000. Wetzel Investment Advisors Inc. acquired a new position in AMETEK during the fourth quarter worth $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of AMETEK in the fourth quarter valued at $26,000. Bruce G. Allen Investments LLC acquired a new position in shares of AMETEK during the fourth quarter valued at about $28,000. Finally, Rakuten Securities Inc. bought a new stake in shares of AMETEK during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Activity at AMETEK

In related news, VP Thomas M. Montgomery sold 6,891 shares of AMETEK stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $185.38, for a total value of $1,277,453.58. Following the completion of the sale, the vice president now owns 21,543 shares of the company’s stock, valued at approximately $3,993,641.34. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other AMETEK news, CFO William Joseph Burke sold 17,437 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $168.51, for a total transaction of $2,938,308.87. Following the sale, the chief financial officer now owns 101,709 shares in the company, valued at $17,138,983.59. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Thomas M. Montgomery sold 6,891 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $185.38, for a total value of $1,277,453.58. Following the completion of the transaction, the vice president now directly owns 21,543 shares of the company’s stock, valued at $3,993,641.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,881 shares of company stock worth $10,689,758. Insiders own 0.61% of the company’s stock.

AMETEK Trading Up 0.4 %

Shares of AMETEK stock opened at $169.90 on Friday. The firm has a market cap of $39.33 billion, a PE ratio of 29.86, a P/E/G ratio of 2.66 and a beta of 1.21. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66. The stock has a fifty day moving average price of $179.07 and a 200-day moving average price of $166.70.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.05. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.49 earnings per share. Equities research analysts anticipate that AMETEK, Inc. will post 6.81 EPS for the current year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.66%. AMETEK’s payout ratio is 19.68%.

Analysts Set New Price Targets

AME has been the subject of a number of analyst reports. Truist Financial began coverage on AMETEK in a research note on Thursday, March 14th. They set a “buy” rating and a $210.00 price target for the company. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Royal Bank of Canada lowered their price target on AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Robert W. Baird dropped their price objective on AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, KeyCorp upped their target price on shares of AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, AMETEK has an average rating of “Moderate Buy” and a consensus target price of $179.80.

About AMETEK

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.