Pitcairn Co. Invests $224,000 in AMETEK, Inc. (NYSE:AME)

Pitcairn Co. purchased a new position in shares of AMETEK, Inc. (NYSE:AME) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,224 shares of the technology company’s stock, valued at approximately $224,000.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC raised its holdings in AMETEK by 19.7% in the 4th quarter. SG Americas Securities LLC now owns 13,784 shares of the technology company’s stock valued at $2,273,000 after buying an additional 2,264 shares during the period. Mutual Advisors LLC grew its position in shares of AMETEK by 16.2% during the fourth quarter. Mutual Advisors LLC now owns 2,122 shares of the technology company’s stock worth $350,000 after buying an additional 296 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of AMETEK by 1.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 83,251 shares of the technology company’s stock worth $13,727,000 after buying an additional 1,135 shares in the last quarter. Pacer Advisors Inc. lifted its stake in AMETEK by 161.0% during the fourth quarter. Pacer Advisors Inc. now owns 44,684 shares of the technology company’s stock worth $7,368,000 after purchasing an additional 27,562 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC purchased a new stake in AMETEK during the fourth quarter worth approximately $309,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insider Transactions at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the transaction, the director now owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the transaction, the director now owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven W. Kohlhagen sold 1,470 shares of AMETEK stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the transaction, the director now directly owns 26,249 shares of the company’s stock, valued at approximately $4,467,579.80. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Robert W. Baird decreased their target price on AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Oppenheimer upgraded AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a research note on Wednesday, May 22nd. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Finally, Truist Financial lowered their target price on shares of AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $181.20.

AMETEK Price Performance

AMETEK stock opened at $168.52 on Friday. AMETEK, Inc. has a one year low of $136.89 and a one year high of $186.32. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 1.11. The business has a fifty day moving average of $169.35 and a two-hundred day moving average of $172.35. The company has a market cap of $39.01 billion, a P/E ratio of 29.62, a price-to-earnings-growth ratio of 2.68 and a beta of 1.18.

AMETEK (NYSE:AME) last released its earnings results on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the company earned $1.49 earnings per share. AMETEK’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, analysts predict that AMETEK, Inc. will post 6.81 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Friday, June 14th. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

About AMETEK

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.