Cooper Financial Group Raises Position in AMETEK, Inc. (NYSE:AME)

Cooper Financial Group raised its holdings in shares of AMETEK, Inc. (NYSE:AME) by 7.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,771 shares of the technology company’s stock after buying an additional 376 shares during the quarter. Cooper Financial Group’s holdings in AMETEK were worth $1,040,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in AME. EdgePoint Investment Group Inc. increased its position in shares of AMETEK by 87.9% in the third quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock worth $337,279,000 after purchasing an additional 918,737 shares during the last quarter. Meridiem Investment Management Ltd. purchased a new position in AMETEK in the 3rd quarter worth approximately $130,579,000. Principal Financial Group Inc. increased its holdings in shares of AMETEK by 72.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock worth $288,526,000 after buying an additional 703,501 shares during the last quarter. D1 Capital Partners L.P. purchased a new stake in shares of AMETEK during the 3rd quarter valued at $79,782,000. Finally, James Hambro & Partners LLP bought a new stake in shares of AMETEK during the 3rd quarter worth $60,188,000. 87.43% of the stock is currently owned by institutional investors.

AMETEK Stock Performance

AMETEK stock opened at $176.48 on Tuesday. AMETEK, Inc. has a 1-year low of $149.03 and a 1-year high of $198.33. The firm has a market cap of $40.82 billion, a P/E ratio of 30.75, a P/E/G ratio of 3.08 and a beta of 1.16. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average of $187.80 and a 200-day moving average of $174.85.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $1.64 EPS. Sell-side analysts expect that AMETEK, Inc. will post 6.8 EPS for the current year.

AMETEK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Friday, December 6th. AMETEK’s payout ratio is 19.51%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AME shares. Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $195.00 to $225.00 in a research note on Monday, December 16th. TD Cowen cut shares of AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Mizuho boosted their price objective on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Truist Financial increased 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, Robert W. Baird boosted their price target on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $202.50.

Insider Activity at AMETEK

In related news, insider Emanuela Speranza sold 6,747 shares of AMETEK stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the sale, the insider now directly owns 30,460 shares in the company, valued at $5,967,114. The trade was a 18.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David F. Hermance sold 6,243 shares of the stock in a transaction on Friday, November 8th. The stock was 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 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 position. The disclosure for this sale can be found here. Insiders have sold 29,200 shares of company stock worth $5,707,620 over the last 90 days. 0.61% of the stock is owned by company insiders.

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.