EP Wealth Advisors LLC Sells 719 Shares of AMETEK, Inc. (NYSE:AME)

EP Wealth Advisors LLC cut its stake in shares of AMETEK, Inc. (NYSE:AME) by 10.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,259 shares of the technology company’s stock after selling 719 shares during the quarter. EP Wealth Advisors LLC’s holdings in AMETEK were worth $1,145,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. CreativeOne Wealth LLC acquired a new position in AMETEK in the 1st quarter valued at approximately $388,000. LGT Group Foundation increased its position in shares of AMETEK by 20.2% during the first quarter. LGT Group Foundation now owns 214,002 shares of the technology company’s stock worth $39,141,000 after buying an additional 35,904 shares during the period. Maren Capital LLC increased its position in shares of AMETEK by 13.3% during the first quarter. Maren Capital LLC now owns 441,723 shares of the technology company’s stock worth $80,791,000 after buying an additional 51,861 shares during the period. MQS Management LLC acquired a new stake in shares of AMETEK during the first quarter worth $878,000. Finally, Natixis increased its position in shares of AMETEK by 48.4% during the first quarter. Natixis now owns 19,186 shares of the technology company’s stock worth $3,509,000 after buying an additional 6,254 shares during the period. 87.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AME shares. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Robert W. Baird cut their target price on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Truist Financial cut their target price on shares of AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. Finally, 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 research note on Wednesday, May 22nd. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, AMETEK currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.20.

AMETEK Stock Up 2.2 %

Shares of AME traded up $3.75 during trading hours on Friday, reaching $172.27. 864,601 shares of the stock traded hands, compared to its average volume of 996,840. The company has a current ratio of 1.11, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. The stock has a fifty day simple moving average of $169.46 and a 200 day simple moving average of $172.42. AMETEK, Inc. has a 52 week low of $136.89 and a 52 week high of $186.32. The company has a market cap of $39.88 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 2.71 and a beta of 1.18.

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

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

Insider Buying and Selling

In related 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 completion of the sale, the director now owns 26,249 shares in the company, valued at $4,467,579.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Steven W. Kohlhagen sold 1,440 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the sale, the director now owns 24,809 shares in the company, valued at $4,315,029.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven W. Kohlhagen sold 1,470 shares of AMETEK stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following the completion of the transaction, the director now 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. 0.61% of the stock is currently owned by corporate 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.