Marks Group Wealth Management Inc Boosts Stock Position in AMETEK, Inc. (NYSE:AME)

Marks Group Wealth Management Inc boosted its holdings in shares of AMETEK, Inc. (NYSE:AME) by 4.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,500 shares of the technology company’s stock after purchasing an additional 2,069 shares during the quarter. Marks Group Wealth Management Inc’s holdings in AMETEK were worth $8,500,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of AME. Washington Trust Advisors Inc. purchased a new stake in shares of AMETEK during the 1st quarter valued at about $37,000. Family Firm Inc. bought a new stake in shares of AMETEK in the 2nd quarter valued at approximately $39,000. Headlands Technologies LLC bought a new stake in shares of AMETEK in the 1st quarter valued at approximately $43,000. Industrial Alliance Investment Management Inc. bought a new position in shares of AMETEK during the 2nd quarter valued at approximately $42,000. Finally, Princeton Global Asset Management LLC purchased a new stake in AMETEK during the 3rd quarter valued at $44,000. Institutional investors own 87.43% of the company’s stock.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the sale, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is owned by insiders.

AMETEK Stock Up 1.2 %

NYSE:AME opened at $182.02 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The firm has a market cap of $42.10 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 2.91 and a beta of 1.16. The company has a 50-day moving average of $169.69 and a 200 day moving average of $168.91. AMETEK, Inc. has a 1-year low of $141.65 and a 1-year high of $186.32.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $1.64 earnings per share. As a group, research analysts anticipate that AMETEK, Inc. will post 6.81 EPS for the current fiscal year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Monday, September 16th. AMETEK’s payout ratio is currently 19.51%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Mizuho lifted their price objective on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Robert W. Baird lifted their price target on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday. Truist Financial increased their price objective on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. TD Cowen cut AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Finally, StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $197.86.

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.