Taurus Asset Management LLC Buys 3,210 Shares of AMETEK, Inc. (NYSE:AME)

Taurus Asset Management LLC increased its stake in AMETEK, Inc. (NYSE:AME) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,033 shares of the technology company’s stock after purchasing an additional 3,210 shares during the period. AMETEK accounts for 1.9% of Taurus Asset Management LLC’s portfolio, making the stock its 24th largest holding. Taurus Asset Management LLC’s holdings in AMETEK were worth $19,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in shares of AMETEK by 7.3% during the first quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company’s stock worth $157,000 after acquiring an additional 61 shares during the last quarter. MorganRosel Wealth Management LLC lifted its position in AMETEK by 1.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company’s stock valued at $648,000 after purchasing an additional 61 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in shares of AMETEK by 4.8% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock valued at $224,000 after purchasing an additional 61 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of AMETEK by 2.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock worth $440,000 after buying an additional 62 shares during the period. Finally, Checchi Capital Advisers LLC raised its stake in shares of AMETEK by 2.9% during the second quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock worth $371,000 after buying an additional 63 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the transaction, the director now owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This trade represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David F. Hermance sold 6,243 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the sale, the insider now directly owns 36,731 shares in the company, valued at $7,015,253.69. This trade represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Truist Financial lifted their price objective on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada cut their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Wolfe Research raised shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AMETEK presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.86.

AMETEK Price Performance

NYSE AME opened at $193.10 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. The stock has a market cap of $44.67 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 3.15 and a beta of 1.16. The business has a 50 day simple moving average of $173.59 and a 200 day simple moving average of $169.76. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week high of $196.70.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.04. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.64 earnings per share. Analysts anticipate that AMETEK, Inc. will post 6.81 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.28 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. AMETEK’s dividend payout ratio (DPR) is 19.51%.

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.