SeaCrest Wealth Management LLC Sells 140 Shares of AMETEK, Inc. (NYSE:AME)

SeaCrest Wealth Management LLC decreased its position in AMETEK, Inc. (NYSE:AME) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,353 shares of the technology company’s stock after selling 140 shares during the period. SeaCrest Wealth Management LLC’s holdings in AMETEK were worth $749,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AME. Kensington Investment Counsel LLC raised its position in AMETEK by 0.5% in the 4th quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company’s stock valued at $2,574,000 after buying an additional 66 shares during the last quarter. Quotient Wealth Partners LLC raised its position in AMETEK by 3.9% in the 4th quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company’s stock valued at $332,000 after buying an additional 70 shares during the last quarter. Howard Capital Management Inc. raised its position in AMETEK by 5.0% in the 4th quarter. Howard Capital Management Inc. now owns 1,501 shares of the technology company’s stock valued at $271,000 after buying an additional 72 shares during the last quarter. Level Four Advisory Services LLC increased its position in shares of AMETEK by 3.1% during the 4th quarter. Level Four Advisory Services LLC now owns 2,624 shares of the technology company’s stock worth $473,000 after purchasing an additional 80 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its position in shares of AMETEK by 3.8% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,218 shares of the technology company’s stock worth $382,000 after purchasing an additional 82 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on AME shares. Truist Financial boosted their price target on AMETEK from $196.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Robert W. Baird lowered their price target on AMETEK from $197.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Royal Bank of Canada boosted their price target on AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Wall Street Zen raised AMETEK from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Finally, Mizuho set a $212.00 price target on AMETEK in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $197.89.

Insider Activity at AMETEK

In related news, Director Thomas A. Amato sold 710 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the completion of the sale, the director now directly owns 10,560 shares in the company, valued at $1,865,318.40. The trade was a 6.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

AMETEK Stock Performance

Shares of NYSE AME opened at $178.44 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a 12 month low of $145.02 and a 12 month high of $198.33. The stock has a 50 day moving average of $169.22 and a 200-day moving average of $178.89. The company has a market capitalization of $41.20 billion, a P/E ratio of 30.09, a P/E/G ratio of 2.73 and a beta of 1.12.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.69 by $0.06. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the company posted $1.64 EPS. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, equities research analysts predict that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.31 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.24 annualized dividend and a yield of 0.69%. AMETEK’s dividend payout ratio (DPR) is presently 20.29%.

AMETEK announced that its board has initiated a stock buyback plan on Friday, February 7th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the technology company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.