Kestra Advisory Services LLC Buys 5,437 Shares of AMETEK, Inc. $AME

Kestra Advisory Services LLC lifted its stake in shares of AMETEK, Inc. (NYSE:AME) by 25.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,816 shares of the technology company’s stock after acquiring an additional 5,437 shares during the quarter. Kestra Advisory Services LLC’s holdings in AMETEK were worth $6,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in AMETEK during the second quarter worth $4,725,928,000. Flossbach Von Storch SE bought a new stake in AMETEK during the second quarter valued at $662,352,000. Bank of New York Mellon Corp acquired a new stake in AMETEK during the 2nd quarter worth about $624,725,000. Bank of America Corp DE acquired a new stake in AMETEK during the 2nd quarter worth about $391,801,000. Finally, Man Group plc acquired a new stake in AMETEK during the 2nd quarter worth about $356,499,000. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Price Performance

Shares of NYSE:AME opened at $239.66 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.43 and a debt-to-equity ratio of 0.52. AMETEK, Inc. has a twelve month low of $188.47 and a twelve month high of $261.16. The stock’s 50 day moving average is $243.17 and its 200-day moving average is $234.88. The firm has a market capitalization of $54.96 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 2.13 and a beta of 0.96.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Tuesday, November 3rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.10. AMETEK had a net margin of 19.91% and a return on equity of 17.12%. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter last year, the firm posted $1.89 EPS. AMETEK’s revenue was up 17.3% compared to the same quarter last year. Sell-side analysts forecast that AMETEK, Inc. will post 8.58 EPS for the current fiscal year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a dividend of $0.34 per share. The ex-dividend date is Friday, December 4th. This represents a $1.36 dividend on an annualized basis and a yield of 0.6%. AMETEK’s payout ratio is 19.18%.

Analyst Ratings Changes

Several equities research analysts recently commented on AME shares. Citigroup upped their target price on AMETEK from $263.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, November 4th. Zacks Research upgraded AMETEK from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. BMO Capital Markets boosted their price target on AMETEK from $262.00 to $282.00 in a research note on Wednesday, August 5th. Mizuho dropped their price target on AMETEK from $285.00 to $275.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 4th. Finally, Weiss Ratings cut AMETEK from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $278.06.

AMETEK Company Profile

AMETEK, Inc. is a global manufacturer of electronic instruments and electromechanical products. Its businesses serve a range of markets, including aerospace, energy, industrial manufacturing, medical, and transportation. The company’s products include analytical and process instruments, monitoring and measurement systems, aerospace components, precision motors and pumps, and engineered materials. AMETEK organizes its operations into two groups: Electronic Instruments and Electromechanical. Founded in 1930, AMETEK serves customers around the world through manufacturing facilities, sales offices, and service operations in multiple countries.