Ballentine Partners LLC Grows Position in AMETEK, Inc. (NYSE:AME)

Ballentine Partners LLC increased its position in AMETEK, Inc. (NYSE:AME) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,868 shares of the technology company’s stock after buying an additional 115 shares during the quarter. Ballentine Partners LLC’s holdings in AMETEK were worth $697,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in AME. Federated Hermes Inc. increased its position in shares of AMETEK by 8.8% in the second quarter. Federated Hermes Inc. now owns 1,177 shares of the technology company’s stock valued at $196,000 after acquiring an additional 95 shares during the period. AE Wealth Management LLC bought a new stake in shares of AMETEK in the second quarter worth about $201,000. ProShare Advisors LLC increased its holdings in AMETEK by 7.8% during the 2nd quarter. ProShare Advisors LLC now owns 40,873 shares of the technology company’s stock valued at $6,814,000 after purchasing an additional 2,961 shares during the period. Frank Rimerman Advisors LLC raised its position in AMETEK by 8,009.7% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 2,514 shares of the technology company’s stock valued at $419,000 after purchasing an additional 2,483 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in AMETEK by 23.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 18,539 shares of the technology company’s stock worth $3,091,000 after buying an additional 3,468 shares during the period. 87.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AME. Mizuho upped their target price on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, November 1st. KeyCorp raised their target price on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Robert W. Baird boosted their price target on shares of AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Finally, StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $203.44.

AMETEK Stock Up 2.2 %

AME stock opened at $188.81 on Thursday. The business has a 50 day moving average of $186.77 and a 200 day moving average of $175.49. The firm has a market cap of $43.67 billion, a PE ratio of 32.89, a price-to-earnings-growth ratio of 2.61 and a beta of 1.16. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18.

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

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.28 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.12 annualized dividend and a dividend yield of 0.59%. AMETEK’s dividend payout ratio is presently 19.51%.

Insider Activity

In related news, insider Tony J. Ciampitti sold 16,210 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the sale, the insider now directly owns 49,490 shares of the company’s stock, valued at $9,750,024.90. This trade represents a 24.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Emanuela Speranza sold 6,747 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total value of $1,321,737.30. Following the completion of the transaction, the insider now directly owns 30,460 shares of the company’s stock, valued at approximately $5,967,114. This trade represents a 18.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,200 shares of company stock worth $5,707,620 over the last 90 days. 0.61% of the stock is currently owned by 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.