Pacer Advisors Inc. Purchases 8,347 Shares of AMETEK, Inc. (NYSE:AME)

Pacer Advisors Inc. boosted its holdings in AMETEK, Inc. (NYSE:AME) by 21.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,469 shares of the technology company’s stock after acquiring an additional 8,347 shares during the quarter. Pacer Advisors Inc.’s holdings in AMETEK were worth $8,151,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. CreativeOne Wealth LLC purchased a new position in AMETEK in the 1st quarter worth about $388,000. Canada Pension Plan Investment Board lifted its position in AMETEK by 9.5% during the first quarter. Canada Pension Plan Investment Board now owns 170,233 shares of the technology company’s stock valued at $31,136,000 after purchasing an additional 14,749 shares during the period. Magnetar Financial LLC purchased a new stake in AMETEK in the first quarter worth approximately $534,000. Interval Partners LP bought a new stake in AMETEK in the 1st quarter worth approximately $15,044,000. Finally, B. Riley Wealth Advisors Inc. raised its stake in AMETEK by 42.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,919 shares of the technology company’s stock valued at $351,000 after buying an additional 573 shares during the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

AMETEK Stock Up 0.8 %

Shares of AME stock opened at $197.38 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. AMETEK, Inc. has a one year low of $149.03 and a one year high of $197.83. The company’s fifty day moving average price is $176.46 and its 200-day moving average price is $170.71. The company has a market capitalization of $45.66 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 3.19 and a beta of 1.16.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $1.64 earnings per share. Sell-side analysts expect that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.28 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.12 annualized dividend and a yield of 0.57%. AMETEK’s payout ratio is 19.51%.

Insider Buying and Selling at AMETEK

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

Analysts Set New Price Targets

Several analysts recently commented on the company. Royal Bank of Canada cut their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Robert W. Baird raised their price objective on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Truist Financial upped their target price on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, TD Cowen cut shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $199.29.

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.