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

Raymond James Trust N.A. increased its stake in AMETEK, Inc. (NYSE:AME) by 4.9% in the third quarter, HoldingsChannel reports. The fund owned 9,935 shares of the technology company’s stock after purchasing an additional 467 shares during the period. Raymond James Trust N.A.’s holdings in AMETEK were worth $1,706,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AME. Czech National Bank boosted its stake in shares of AMETEK by 8.6% during the second quarter. Czech National Bank now owns 44,108 shares of the technology company’s stock valued at $7,353,000 after purchasing an additional 3,499 shares during the period. CWM LLC grew its holdings in AMETEK by 53.9% in the 2nd quarter. CWM LLC now owns 10,594 shares of the technology company’s stock worth $1,766,000 after acquiring an additional 3,711 shares during the last quarter. Swedbank AB purchased a new position in shares of AMETEK in the first quarter valued at about $3,833,000. Cetera Investment Advisers raised its stake in shares of AMETEK by 573.2% during the first quarter. Cetera Investment Advisers now owns 59,754 shares of the technology company’s stock valued at $10,929,000 after acquiring an additional 50,878 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of AMETEK by 68.2% during the second quarter. Assenagon Asset Management S.A. now owns 152,132 shares of the technology company’s stock worth $25,362,000 after purchasing an additional 61,677 shares during the period. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

AMETEK Stock Up 0.8 %

Shares of AMETEK stock opened at $197.38 on Friday. AMETEK, Inc. has a 1 year low of $149.03 and a 1 year high of $197.83. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The company has a 50-day moving average of $176.46 and a 200 day moving average of $170.71. The firm has a market cap of $45.66 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 3.19 and a beta of 1.16.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the firm earned $1.64 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, sell-side analysts anticipate that AMETEK, Inc. will post 6.8 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have commented on AME. Royal Bank of Canada lowered their price target on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Wolfe Research raised AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Truist Financial boosted their price objective on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research report on Friday, November 1st. TD Cowen cut shares of AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Finally, Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AMETEK currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.29.

Insider Activity

In other AMETEK news, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction on 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 completion of the sale, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. The trade was a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.