Fairvoy Private Wealth LLC Takes Position in AMETEK, Inc. (NYSE:AME)

Fairvoy Private Wealth LLC bought a new stake in AMETEK, Inc. (NYSE:AME) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 13,261 shares of the technology company’s stock, valued at approximately $2,390,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oddo BHF Asset Management Sas acquired a new position in AMETEK during the third quarter worth about $3,724,000. Everence Capital Management Inc. acquired a new position in AMETEK during the fourth quarter worth about $999,000. BNP Paribas Financial Markets grew its position in AMETEK by 23.2% during 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 during the period. Czech National Bank grew its position in AMETEK by 6.3% during the fourth quarter. Czech National Bank now owns 50,153 shares of the technology company’s stock worth $9,041,000 after buying an additional 2,987 shares during the period. Finally, Taurus Asset Management LLC grew its position in AMETEK by 2.9% during the third quarter. Taurus Asset Management LLC now owns 115,033 shares of the technology company’s stock worth $19,752,000 after buying an additional 3,210 shares during the period. 87.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AME shares. Robert W. Baird reduced their price target on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a report on Wednesday. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Wednesday. KeyCorp upped their price objective on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Truist Financial upped their price objective 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. Finally, Bank of America raised shares of AMETEK from a “neutral” rating to a “buy” rating and increased their price target for the stock from $195.00 to $225.00 in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $204.67.

AMETEK Price Performance

AMETEK stock opened at $182.64 on Friday. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week high of $198.33. The firm has a fifty day moving average of $184.54 and a 200-day moving average of $176.61. The firm has a market capitalization of $42.25 billion, a P/E ratio of 31.82, a PEG ratio of 2.67 and a beta of 1.16. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18.

AMETEK (NYSE:AME) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.02. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the business earned $1.68 earnings per share. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, analysts predict that AMETEK, Inc. will post 6.8 EPS for the current year.

Insider Activity at AMETEK

In related news, insider Emanuela Speranza sold 6,747 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were 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 approximately $5,967,114. This trade represents a 18.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tony J. Ciampitti sold 16,210 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the sale, the insider now directly owns 49,490 shares of the company’s stock, valued at approximately $9,750,024.90. The trade was a 24.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

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.