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.
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, 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.
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