Appleton Partners Inc. MA Sells 150 Shares of AMETEK, Inc. (NYSE:AME)

Appleton Partners Inc. MA decreased its stake in AMETEK, Inc. (NYSE:AME) by 10.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,350 shares of the technology company’s stock after selling 150 shares during the quarter. Appleton Partners Inc. MA’s holdings in AMETEK were worth $225,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of AMETEK by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 25,578,270 shares of the technology company’s stock worth $4,217,601,000 after purchasing an additional 84,832 shares during the period. JPMorgan Chase & Co. raised its position in shares of AMETEK by 48.4% during the first quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock worth $1,294,121,000 after purchasing an additional 2,306,535 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of AMETEK by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company’s stock worth $1,195,478,000 after purchasing an additional 44,899 shares during the period. Capital International Investors raised its position in shares of AMETEK by 5.0% during the fourth quarter. Capital International Investors now owns 4,196,755 shares of the technology company’s stock worth $692,051,000 after purchasing an additional 198,777 shares during the period. Finally, Norges Bank acquired a new stake in shares of AMETEK during the fourth quarter worth about $589,098,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Stock Down 4.0 %

AME stock traded down $6.39 during mid-day trading on Friday, reaching $152.74. The company had a trading volume of 4,082,230 shares, compared to its average volume of 1,213,603. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.66. The stock has a 50 day simple moving average of $168.88 and a two-hundred day simple moving average of $172.56. The company has a market capitalization of $35.35 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 2.57 and a beta of 1.18. AMETEK, Inc. has a 52 week low of $136.89 and a 52 week high of $186.32.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.64 by $0.02. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the company posted $1.57 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities analysts predict that AMETEK, Inc. will post 6.78 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 0.73%. AMETEK’s payout ratio is currently 19.68%.

Insider Buying and Selling

In other AMETEK 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 value of $250,459.20. Following the completion of the transaction, the director now directly owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other AMETEK 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 value of $250,459.20. Following the completion of the transaction, the director now directly owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,470 shares of the business’s 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. 0.61% of the stock is currently owned by insiders.

Analyst Ratings Changes

AME has been the topic of a number of research analyst reports. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a research report on Monday, July 29th. Oppenheimer raised AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a research report on Wednesday, May 22nd. Robert W. Baird dropped their target price on AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Royal Bank of Canada dropped their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Truist Financial dropped their target price on AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and a consensus price target of $187.29.

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.