Wedmont Private Capital Takes Position in AMETEK, Inc. (NYSE:AME)

Posted by Defense World Staff on Mar 19th, 2023

Wedmont Private Capital purchased a new stake in shares of AMETEK, Inc. (NYSE:AME – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,125 shares of the technology company’s stock, valued at approximately $306,000.

Several other large investors have also recently bought and sold shares of AME. Cambridge Investment Research Advisors Inc. raised its position in AMETEK by 9.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,306 shares of the technology company’s stock valued at $573,000 after buying an additional 376 shares during the period. Lord Abbett & CO. LLC increased its holdings in shares of AMETEK by 12.7% during the 1st quarter. Lord Abbett & CO. LLC now owns 84,481 shares of the technology company’s stock valued at $11,251,000 after acquiring an additional 9,510 shares during the last quarter. Prudential PLC acquired a new position in shares of AMETEK during the 1st quarter valued at about $591,000. Cetera Investment Advisers increased its holdings in shares of AMETEK by 45.1% during the 1st quarter. Cetera Investment Advisers now owns 2,974 shares of the technology company’s stock valued at $396,000 after acquiring an additional 924 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of AMETEK by 41.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,379 shares of the technology company’s stock valued at $316,000 after acquiring an additional 700 shares during the last quarter. 85.42% of the stock is owned by institutional investors and hedge funds.

AMETEK Stock Down 0.6 %

NYSE:AME opened at $134.99 on Friday. AMETEK, Inc. has a 1 year low of $106.17 and a 1 year high of $148.06. The company has a current ratio of 1.62, a quick ratio of 0.95 and a debt-to-equity ratio of 0.29. The stock has a market cap of $31.09 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 2.54 and a beta of 1.22. The stock has a 50-day moving average price of $142.72 and a two-hundred day moving average price of $134.30.

AMETEK (NYSE:AME – Get Rating) last posted its earnings results on Thursday, February 2nd. The technology company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.05. AMETEK had a return on equity of 18.46% and a net margin of 18.85%. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the previous year, the firm earned $1.37 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. As a group, equities analysts expect that AMETEK, Inc. will post 5.98 earnings per share for the current year.

AMETEK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 10th will be given a dividend of $0.25 per share. This is a boost from AMETEK’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Thursday, March 9th. AMETEK’s dividend payout ratio is currently 19.96%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AME. KeyCorp lifted their price objective on AMETEK from $145.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, November 21st. StockNews.com assumed coverage on AMETEK in a report on Thursday. They set a “buy” rating on the stock. Wolfe Research lowered AMETEK from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 23rd. Loop Capital boosted their price objective on AMETEK from $160.00 to $164.00 in a research note on Thursday, January 12th. Finally, Mizuho boosted their price objective on AMETEK from $145.00 to $153.00 and gave the stock a “buy” rating in a research note on Friday, January 13th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AMETEK currently has an average rating of “Moderate Buy” and a consensus target price of $151.11.

Insider Transactions at AMETEK

In other news, insider Ronald J. Oscher sold 6,500 shares of the company’s stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $145.28, for a total transaction of $944,320.00. Following the completion of the transaction, the insider now directly owns 28,563 shares of the company’s stock, valued at $4,149,632.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Ronald J. Oscher sold 6,500 shares of the company’s stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $145.28, for a total transaction of $944,320.00. Following the completion of the transaction, the insider now directly owns 28,563 shares of the company’s stock, valued at $4,149,632.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas A. Amato sold 780 shares of the company’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $137.54, for a total value of $107,281.20. Following the transaction, the director now directly owns 8,780 shares of the company’s stock, valued at $1,207,601.20. The disclosure for this sale can be found here. Insiders sold 17,440 shares of company stock valued at $2,507,660 over the last three months. Company insiders own 0.72% of the company’s stock.

About AMETEK

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AMETEK, Inc engages in the manufacture of electronic instruments and electromechanical devices. It operates through the following two segments: Electronic Instruments (EIG) and Electromechanical (EMG). The EIG segment designs and manufactures advanced instruments for the process, aerospace, power and industrial markets.

Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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