Cerity Partners LLC Grows Holdings in AMETEK, Inc. (NYSE:AME)

Cerity Partners LLC raised its position in AMETEK, Inc. (NYSE:AME) by 60.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,341 shares of the technology company’s stock after buying an additional 40,616 shares during the period. Cerity Partners LLC’s holdings in AMETEK were worth $18,603,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Family Firm Inc. acquired a new position in shares of AMETEK in the second quarter worth about $39,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of AMETEK during the 2nd quarter valued at approximately $42,000. Princeton Global Asset Management LLC acquired a new stake in shares of AMETEK during the third quarter worth approximately $44,000. Crewe Advisors LLC increased its stake in shares of AMETEK by 168.8% in the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock worth $49,000 after buying an additional 184 shares during the last quarter. Finally, First Command Advisory Services Inc. acquired a new stake in AMETEK in the second quarter valued at $50,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on AME. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. KeyCorp boosted their price objective on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday. Robert W. Baird increased their target price on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Truist Financial boosted their price target on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, TD Cowen cut AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $199.29.

AMETEK Stock Performance

AME stock opened at $197.12 on Tuesday. AMETEK, Inc. has a 1 year low of $149.03 and a 1 year high of $198.33. The stock has a market capitalization of $45.60 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 3.22 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. The stock’s fifty day moving average is $177.04 and its two-hundred day moving average is $170.91.

AMETEK (NYSE:AME) last issued its quarterly earnings data 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 net margin of 19.27% and a return on equity of 16.88%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the firm posted $1.64 EPS. AMETEK’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, research analysts predict that AMETEK, Inc. will post 6.8 EPS for the current year.

AMETEK Announces Dividend

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

Insider Buying and Selling at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the sale, the director now directly owns 23,349 shares in the company, valued at $4,006,454.91. The trade was a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tony J. Ciampitti sold 16,210 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the completion of the transaction, the insider now owns 49,490 shares of the company’s stock, valued at $9,750,024.90. This represents a 24.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,913 shares of company stock valued at $4,636,404 in the last quarter. Corporate insiders own 0.61% of the company’s stock.

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.