Inspire Investing LLC Increases Stake in AMETEK, Inc. (NYSE:AME)

Inspire Investing LLC lifted its stake in AMETEK, Inc. (NYSE:AME) by 4.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,192 shares of the technology company’s stock after buying an additional 338 shares during the quarter. Inspire Investing LLC’s holdings in AMETEK were worth $1,296,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Oddo BHF Asset Management Sas purchased a new stake in AMETEK in the 3rd quarter worth $3,724,000. Everence Capital Management Inc. bought a new stake in shares of AMETEK in the fourth quarter worth about $999,000. BNP Paribas Financial Markets lifted its position in shares of AMETEK by 23.2% in the third quarter. BNP Paribas Financial Markets now owns 355,828 shares of the technology company’s stock worth $61,099,000 after buying an additional 67,025 shares in the last quarter. Taurus Asset Management LLC boosted its stake in AMETEK by 2.9% during the third quarter. Taurus Asset Management LLC now owns 115,033 shares of the technology company’s stock valued at $19,752,000 after buying an additional 3,210 shares during the last quarter. Finally, Sawgrass Asset Management LLC boosted its stake in AMETEK by 36.5% during the third quarter. Sawgrass Asset Management LLC now owns 74,757 shares of the technology company’s stock valued at $12,837,000 after buying an additional 20,001 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.

Insider Buying and Selling

In other AMETEK news, insider Emanuela Speranza sold 6,747 shares of AMETEK stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the completion of the sale, the insider now directly owns 30,460 shares of the company’s stock, valued at $5,967,114. The trade was a 18.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David F. Hermance sold 6,243 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the transaction, the insider now directly owns 36,731 shares in the company, valued at $7,015,253.69. The trade was a 14.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,200 shares of company stock valued at $5,707,620 in the last 90 days. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Robert W. Baird upped their price objective on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Truist Financial upped their price target on shares of AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Mizuho increased their price objective on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Bank of America upgraded shares of AMETEK from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $195.00 to $225.00 in a report on Monday, December 16th. Finally, TD Cowen downgraded shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and an average price target of $203.44.

AMETEK Stock Up 0.9 %

Shares of NYSE AME opened at $190.46 on Friday. AMETEK, Inc. has a 1 year low of $149.03 and a 1 year high of $198.33. The firm has a 50-day simple moving average of $186.64 and a two-hundred day simple moving average of $175.58. The company has a market cap of $44.06 billion, a P/E ratio of 33.18, a PEG ratio of 2.67 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the business earned $1.64 EPS. AMETEK’s revenue was up 5.3% compared to the same quarter last year. Research analysts anticipate that AMETEK, Inc. will post 6.8 earnings per share for the current year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Friday, December 6th. AMETEK’s dividend payout ratio is presently 19.51%.

AMETEK Company 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.