USA Financial Formulas Buys 101 Shares of AMETEK, Inc. (NYSE:AME)

USA Financial Formulas grew its stake in shares of AMETEK, Inc. (NYSE:AME) by 27.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 464 shares of the technology company’s stock after purchasing an additional 101 shares during the period. USA Financial Formulas’ holdings in AMETEK were worth $80,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Kensington Investment Counsel LLC boosted its stake in shares of AMETEK by 0.5% during the 4th quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company’s stock valued at $2,574,000 after purchasing an additional 66 shares in the last quarter. Howard Capital Management Inc. boosted its stake in shares of AMETEK by 5.0% during the 4th quarter. Howard Capital Management Inc. now owns 1,501 shares of the technology company’s stock valued at $271,000 after purchasing an additional 72 shares in the last quarter. Level Four Advisory Services LLC boosted its stake in AMETEK by 3.1% during the fourth quarter. Level Four Advisory Services LLC now owns 2,624 shares of the technology company’s stock worth $473,000 after acquiring an additional 80 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in AMETEK by 3.8% during the first quarter. Fifth Third Wealth Advisors LLC now owns 2,218 shares of the technology company’s stock worth $382,000 after acquiring an additional 82 shares in the last quarter. Finally, Net Worth Advisory Group boosted its stake in AMETEK by 1.8% during the fourth quarter. Net Worth Advisory Group now owns 4,834 shares of the technology company’s stock worth $871,000 after acquiring an additional 87 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Stock Up 0.5%

Shares of AMETEK stock opened at $180.82 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24. The stock has a market capitalization of $41.75 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 2.73 and a beta of 1.10. AMETEK, Inc. has a 52-week low of $145.02 and a 52-week high of $198.33. The company has a 50-day simple moving average of $170.28 and a two-hundred day simple moving average of $178.57.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.06. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.64 earnings per share. On average, analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.31 per share. The ex-dividend date is Friday, June 13th. This represents a $1.24 annualized dividend and a dividend yield of 0.69%. AMETEK’s payout ratio is 20.29%.

Insider Activity

In other news, Director Thomas A. Amato sold 710 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total transaction of $125,414.40. Following the completion of the transaction, the director now directly owns 10,560 shares of the company’s stock, valued at $1,865,318.40. The trade was a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on AME. Morgan Stanley began coverage on shares of AMETEK in a research note on Monday, April 14th. They set an “equal weight” rating and a $170.00 price objective on the stock. Truist Financial boosted their price objective on shares of AMETEK from $196.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Robert W. Baird dropped their price objective on shares of AMETEK from $197.00 to $190.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Mizuho set a $212.00 price objective on shares of AMETEK in a research note on Friday, May 16th. Finally, Wall Street Zen raised shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AMETEK currently has an average rating of “Moderate Buy” and an average price target of $197.89.

AMETEK Company 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.