Modera Wealth Management LLC Takes $208,000 Position in AMETEK, Inc. (NYSE:AME)

Modera Wealth Management LLC purchased a new stake in AMETEK, Inc. (NYSE:AME) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,293 shares of the technology company’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cornerstone Advisors Inc. boosted its stake in shares of AMETEK by 55.2% in the 1st quarter. Cornerstone Advisors Inc. now owns 388 shares of the technology company’s stock valued at $32,000 after purchasing an additional 138 shares in the last quarter. Berman Capital Advisors LLC boosted its stake in shares of AMETEK by 51.3% in the 2nd quarter. Berman Capital Advisors LLC now owns 454 shares of the technology company’s stock valued at $41,000 after purchasing an additional 154 shares in the last quarter. Ibex Wealth Advisors acquired a new stake in shares of AMETEK in the 2nd quarter valued at approximately $52,000. Legacy Advisors LLC acquired a new stake in shares of AMETEK in the 2nd quarter valued at approximately $55,000. Finally, Signaturefd LLC boosted its stake in shares of AMETEK by 44.3% in the 2nd quarter. Signaturefd LLC now owns 1,039 shares of the technology company’s stock valued at $94,000 after purchasing an additional 319 shares in the last quarter. Institutional investors own 86.54% of the company’s stock.

NYSE AME traded down $2.15 during trading hours on Friday, reaching $83.62. The company’s stock had a trading volume of 916,598 shares, compared to its average volume of 1,242,324. The firm has a fifty day simple moving average of $88.04 and a 200-day simple moving average of $84.62. The stock has a market cap of $19.59 billion, a P/E ratio of 25.42, a P/E/G ratio of 2.19 and a beta of 1.22. AMETEK, Inc. has a 52 week low of $63.14 and a 52 week high of $92.30. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.17 and a quick ratio of 1.53.

AMETEK (NYSE:AME) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.02. AMETEK had a net margin of 16.32% and a return on equity of 19.27%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business earned $0.83 EPS. The company’s revenue was up 6.7% compared to the same quarter last year. On average, research analysts expect that AMETEK, Inc. will post 4.1 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.14 per share. The ex-dividend date is Friday, September 13th. This represents a $0.56 annualized dividend and a yield of 0.67%. AMETEK’s payout ratio is 17.02%.

In other AMETEK news, VP Thomas M. Montgomery sold 5,602 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $88.50, for a total transaction of $495,777.00. Following the completion of the transaction, the vice president now owns 26,419 shares in the company, valued at approximately $2,338,081.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David A. Zapico sold 58,760 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $86.35, for a total transaction of $5,073,926.00. Following the transaction, the insider now owns 258,226 shares of the company’s stock, valued at approximately $22,297,815.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,010 shares of company stock valued at $7,786,522. Company insiders own 0.80% of the company’s stock.

A number of equities research analysts have recently weighed in on AME shares. BMO Capital Markets raised their price target on shares of AMETEK from $99.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. ValuEngine lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Oppenheimer raised their price objective on shares of AMETEK from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Vertical Research reiterated a “buy” rating on shares of AMETEK in a report on Friday, May 3rd. Finally, Zacks Investment Research upgraded shares of AMETEK from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Thursday, June 13th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $94.36.

AMETEK Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

Read More: How does equity income fit into an investing strategy?

Want to see what other hedge funds are holding AME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AMETEK, Inc. (NYSE:AME).

Institutional Ownership by Quarter for AMETEK (NYSE:AME)

Receive News & Ratings for AMETEK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMETEK and related companies with MarketBeat.com's FREE daily email newsletter.