Edgestream Partners L.P. Invests $997,000 in AMETEK, Inc. (NYSE:AME)

Edgestream Partners L.P. bought a new position in AMETEK, Inc. (NYSE:AME) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,808 shares of the technology company’s stock, valued at approximately $997,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AME. Family Firm Inc. purchased a new stake in shares of AMETEK in the 2nd quarter worth about $39,000. Industrial Alliance Investment Management Inc. bought a new position in AMETEK in the 2nd quarter worth about $42,000. Princeton Global Asset Management LLC bought a new position in AMETEK in the 3rd quarter worth about $44,000. Crewe Advisors LLC boosted its stake in AMETEK by 168.8% in the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock worth $49,000 after purchasing an additional 184 shares in the last quarter. Finally, First Command Advisory Services Inc. bought a new position in AMETEK in the 2nd quarter worth about $50,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AME has been the topic of a number of analyst reports. StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Wednesday. Truist Financial upped their price target on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. KeyCorp upped their target price on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Finally, Robert W. Baird upped their target price on shares of AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.29.

AMETEK Price Performance

Shares of NYSE:AME opened at $195.00 on Thursday. The firm’s 50 day moving average price is $180.49 and its 200-day moving average price is $172.18. The stock has a market capitalization of $45.11 billion, a PE ratio of 33.97, a price-to-earnings-growth ratio of 3.19 and a beta of 1.15. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18.

AMETEK (NYSE:AME) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, topping 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 company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the business earned $1.64 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts expect that AMETEK, Inc. will post 6.8 EPS for the current year.

AMETEK Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Tony J. Ciampitti sold 16,210 shares of AMETEK stock in a transaction that occurred on 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 sale, the insider now owns 49,490 shares in the company, valued at $9,750,024.90. This trade represents a 24.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Emanuela Speranza sold 6,747 shares of AMETEK stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the sale, the insider now owns 30,460 shares in the company, valued at approximately $5,967,114. The trade was a 18.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,660 shares of company stock worth $5,958,141. Company 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.