Davis Rea LTD. Invests $859,000 in AMETEK, Inc. (NYSE:AME)

Davis Rea LTD. bought a new stake in AMETEK, Inc. (NYSE:AME) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,000 shares of the technology company’s stock, valued at approximately $859,000. AMETEK accounts for approximately 0.4% of Davis Rea LTD.’s portfolio, making the stock its 26th biggest position.

Several other institutional investors have also recently made changes to their positions in the stock. Catalyst Financial Partners LLC purchased a new position in AMETEK during the 3rd quarter valued at approximately $202,000. Financial Advocates Investment Management raised its position in AMETEK by 5.9% during the 3rd quarter. Financial Advocates Investment Management now owns 2,183 shares of the technology company’s stock valued at $375,000 after purchasing an additional 122 shares in the last quarter. First Trust Direct Indexing L.P. raised its position in shares of AMETEK by 28.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 8,781 shares of the technology company’s stock worth $1,508,000 after acquiring an additional 1,941 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of AMETEK in the 3rd quarter worth $167,000. Finally, Fidelis Capital Partners LLC grew its stake in AMETEK by 6.4% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,734 shares of the technology company’s stock worth $289,000 after buying an additional 105 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Stock Performance

AME stock opened at $179.95 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26. The stock has a market capitalization of $41.65 billion, a price-to-earnings ratio of 29.67, a PEG ratio of 2.77 and a beta of 1.17. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32. The stock’s fifty day moving average is $168.59 and its two-hundred day moving average is $168.90.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.57 earnings per share. On average, research analysts predict that AMETEK, Inc. will post 6.76 EPS for the current year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.28 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. AMETEK’s dividend payout ratio is currently 19.68%.

Analyst Ratings Changes

Several research firms have weighed in on AME. TD Cowen downgraded AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Truist Financial boosted their price target on shares of AMETEK from $201.00 to $219.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Mizuho upped their price objective on shares of AMETEK from $180.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada decreased their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock 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 assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $193.29.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the sale, the director now directly owns 23,349 shares in the company, valued at $4,006,454.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company 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.