AMETEK, Inc. (NYSE:AME) Holdings Boosted by Smith Salley Wealth Management

Smith Salley Wealth Management grew its holdings in AMETEK, Inc. (NYSE:AME) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,829 shares of the technology company’s stock after purchasing an additional 1,118 shares during the period. AMETEK makes up 1.4% of Smith Salley Wealth Management’s portfolio, making the stock its 22nd biggest position. Smith Salley Wealth Management owned about 0.05% of AMETEK worth $21,778,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Washington Trust Advisors Inc. purchased a new stake in AMETEK in the 1st quarter worth about $37,000. Family Firm Inc. purchased a new stake in shares of AMETEK in the second quarter worth approximately $39,000. Headlands Technologies LLC purchased a new stake in shares of AMETEK in the first quarter worth approximately $43,000. Industrial Alliance Investment Management Inc. purchased a new position in AMETEK during the second quarter valued at approximately $42,000. Finally, Crewe Advisors LLC grew its position in AMETEK by 168.8% during the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock valued at $49,000 after purchasing an additional 184 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Stock Up 0.2 %

Shares of AME stock opened at $166.96 on Friday. The stock’s 50 day simple moving average is $168.41 and its 200 day simple moving average is $169.15. AMETEK, Inc. has a twelve month low of $136.89 and a twelve month high of $186.32. 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 company has a market capitalization of $38.65 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 2.77 and a beta of 1.17.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.57 earnings per share. As a group, research analysts predict that AMETEK, Inc. will post 6.76 EPS for the current year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Monday, September 16th. AMETEK’s dividend payout ratio (DPR) is 19.68%.

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction that occurred on 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 owns 23,349 shares in the company, valued at $4,006,454.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AME shares. Truist Financial lifted their target price on shares of AMETEK from $201.00 to $219.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Finally, Royal Bank of Canada dropped their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $193.29.

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.