HCR Wealth Advisors Acquires New Holdings in AMETEK, Inc. (NYSE:AME)

HCR Wealth Advisors purchased a new position in shares of AMETEK, Inc. (NYSE:AME) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 118,522 shares of the technology company’s stock, valued at approximately $19,543,000. AMETEK comprises approximately 3.1% of HCR Wealth Advisors’ holdings, making the stock its 6th biggest holding. HCR Wealth Advisors owned about 0.05% of AMETEK as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. M&T Bank Corp increased its position in AMETEK by 0.5% during the 4th quarter. M&T Bank Corp now owns 15,442 shares of the technology company’s stock valued at $2,547,000 after buying an additional 73 shares in the last quarter. Provence Wealth Management Group increased its position in AMETEK by 5.5% during the 4th quarter. Provence Wealth Management Group now owns 1,435 shares of the technology company’s stock worth $237,000 after purchasing an additional 75 shares during the period. Metis Global Partners LLC lifted its stake in AMETEK by 0.5% in the 4th quarter. Metis Global Partners LLC now owns 15,934 shares of the technology company’s stock valued at $2,627,000 after buying an additional 82 shares in the last quarter. Lincoln National Corp lifted its stake in shares of AMETEK by 6.1% during the 3rd quarter. Lincoln National Corp now owns 1,436 shares of the technology company’s stock worth $212,000 after purchasing an additional 83 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its position in AMETEK by 4.6% in the third quarter. B. Riley Wealth Advisors Inc. now owns 1,919 shares of the technology company’s stock valued at $284,000 after purchasing an additional 85 shares during the period. Institutional investors own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. KeyCorp boosted their target price on shares of AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Oppenheimer raised shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a report on Wednesday. Robert W. Baird lowered their price objective on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Finally, Royal Bank of Canada cut their target price on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.64.

AMETEK Price Performance

Shares of AME stock traded up $0.96 during trading hours on Friday, hitting $173.68. The company had a trading volume of 1,030,677 shares, compared to its average volume of 1,008,707. The firm has a market capitalization of $40.20 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 2.79 and a beta of 1.21. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 1.11. AMETEK, Inc. has a 12 month low of $136.89 and a 12 month high of $186.32. The firm’s fifty day moving average is $176.62 and its 200 day moving average is $168.72.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.59 by $0.05. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $1.49 earnings per share. On average, sell-side analysts predict that AMETEK, Inc. will post 6.83 EPS for the current fiscal year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Friday, June 14th. AMETEK’s dividend payout ratio (DPR) is currently 19.68%.

Insider Buying and Selling

In other AMETEK news, Director Steven W. Kohlhagen sold 1,470 shares of AMETEK stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total value of $250,194.00. Following the completion of the transaction, the director now directly owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other AMETEK news, Director Steven W. Kohlhagen sold 1,470 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total transaction of $250,194.00. Following the transaction, the director now owns 26,249 shares of the company’s stock, valued at approximately $4,467,579.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas M. Montgomery sold 6,891 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the transaction, the vice president now directly owns 21,543 shares of the company’s stock, valued at $3,993,641.34. The disclosure for this sale can be found here. Insiders have sold a total of 37,941 shares of company stock worth $6,992,804 in the last 90 days. 0.61% of the stock is owned by company insiders.

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.