Crewe Advisors LLC Purchases 184 Shares of AMETEK, Inc. (NYSE:AME)

Crewe Advisors LLC increased its position in shares of AMETEK, Inc. (NYSE:AME) by 168.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 293 shares of the technology company’s stock after buying an additional 184 shares during the period. Crewe Advisors LLC’s holdings in AMETEK were worth $49,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AME. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in AMETEK by 15.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 76,279 shares of the technology company’s stock valued at $12,716,000 after acquiring an additional 10,452 shares during the period. Financial Advocates Investment Management boosted its position in shares of AMETEK by 44.3% in the second quarter. Financial Advocates Investment Management now owns 2,061 shares of the technology company’s stock valued at $344,000 after acquiring an additional 633 shares during the period. Checchi Capital Advisers LLC grew its stake in shares of AMETEK by 2.9% in the second quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock worth $371,000 after acquiring an additional 63 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new position in AMETEK during the second quarter worth $336,000. Finally, First Command Advisory Services Inc. acquired a new position in AMETEK during the 2nd quarter valued at $50,000. 87.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AME. TD Cowen cut their price objective on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Royal Bank of Canada reduced their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Oppenheimer upgraded AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research report on Wednesday, May 22nd. Truist Financial cut their target price on AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, Robert W. Baird decreased their price target on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $186.29.

Insider Activity

In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the company’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 transaction, the director now directly owns 24,809 shares in the company, valued at approximately $4,315,029.37. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

AMETEK Price Performance

Shares of NYSE:AME traded up $1.67 on Friday, hitting $171.05. The stock had a trading volume of 1,212,410 shares, compared to its average volume of 1,119,702. The company has a market capitalization of $39.59 billion, a price-to-earnings ratio of 30.06, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.66 and a current ratio of 1.26. The firm’s 50 day moving average price is $166.34 and its 200-day moving average price is $172.30. AMETEK, Inc. has a twelve month low of $136.89 and a twelve month high of $186.32.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. AMETEK’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.57 EPS. On average, equities research analysts predict that AMETEK, Inc. will post 6.78 earnings per share for the current year.

AMETEK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.28 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. AMETEK’s payout ratio is 19.68%.

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.