AMETEK, Inc. (NYSE:AME) Shares Purchased by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC raised its position in shares of AMETEK, Inc. (NYSE:AME) by 26.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,643 shares of the technology company’s stock after purchasing an additional 556 shares during the period. Sagespring Wealth Partners LLC’s holdings in AMETEK were worth $455,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kensington Investment Counsel LLC boosted its holdings in shares of AMETEK by 0.5% during the 4th quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company’s stock worth $2,574,000 after buying an additional 66 shares during the period. Howard Capital Management Inc. boosted its holdings 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 purchasing an additional 72 shares during the period. Level Four Advisory Services LLC boosted its holdings in AMETEK by 3.1% in the 4th quarter. Level Four Advisory Services LLC now owns 2,624 shares of the technology company’s stock valued at $473,000 after purchasing an additional 80 shares during the period. Fifth Third Wealth Advisors LLC boosted its holdings in AMETEK by 3.8% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,218 shares of the technology company’s stock valued at $382,000 after purchasing an additional 82 shares during the period. Finally, Net Worth Advisory Group boosted its holdings in AMETEK by 1.8% in the 4th quarter. Net Worth Advisory Group now owns 4,834 shares of the technology company’s stock valued at $871,000 after purchasing an additional 87 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AME shares. Royal Bank Of Canada raised their price objective on shares of AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Mizuho set a $212.00 price objective on shares of AMETEK in a report on Friday, May 16th. Wall Street Zen raised shares of AMETEK from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Truist Financial raised their price objective on shares of AMETEK from $196.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Finally, Morgan Stanley assumed coverage on shares of AMETEK in a report on Monday, April 14th. They set an “equal weight” rating and a $170.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $197.89.

Insider Buying and Selling at AMETEK

In other news, Director Thomas A. Amato sold 710 shares of AMETEK stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total transaction of $125,414.40. Following the transaction, the director now directly owns 10,560 shares of the company’s stock, valued at $1,865,318.40. This trade represents a 6.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.57% of the company’s stock.

AMETEK Price Performance

AME opened at $177.58 on Thursday. AMETEK, Inc. has a one year low of $145.02 and a one year high of $198.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.41 and a quick ratio of 0.86. The company’s 50 day simple moving average is $172.49 and its 200-day simple moving average is $177.94. The stock has a market capitalization of $41.00 billion, a P/E ratio of 29.06, a price-to-earnings-growth ratio of 2.63 and a beta of 1.10.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.69 by $0.06. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the firm earned $1.64 earnings per share. AMETEK’s revenue was down .2% compared to the same quarter last year. Sell-side analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.24 dividend on an annualized basis and a yield of 0.70%. AMETEK’s payout ratio is presently 20.29%.

AMETEK Company 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.