Novare Capital Management LLC Sells 614 Shares of AMETEK, Inc. (NYSE:AME)

Novare Capital Management LLC trimmed its position in shares of AMETEK, Inc. (NYSE:AME) by 0.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,495 shares of the technology company’s stock after selling 614 shares during the period. AMETEK makes up approximately 1.1% of Novare Capital Management LLC’s holdings, making the stock its 28th biggest holding. Novare Capital Management LLC’s holdings in AMETEK were worth $12,419,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AME. Kestra Private Wealth Services LLC boosted its position in AMETEK by 6.1% in the 4th quarter. Kestra Private Wealth Services LLC now owns 3,860 shares of the technology company’s stock valued at $636,000 after buying an additional 223 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in shares of AMETEK by 577.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 976 shares of the technology company’s stock valued at $161,000 after purchasing an additional 832 shares in the last quarter. M&T Bank Corp lifted its holdings in AMETEK by 0.5% during the fourth quarter. M&T Bank Corp now owns 15,442 shares of the technology company’s stock valued at $2,547,000 after purchasing an additional 73 shares in the last quarter. Metis Global Partners LLC raised its holdings in shares of AMETEK by 0.5% during the fourth quarter. Metis Global Partners LLC now owns 15,934 shares of the technology company’s stock valued at $2,627,000 after acquiring an additional 82 shares during the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of AMETEK by 5.1% during the fourth quarter. Private Advisor Group LLC now owns 9,000 shares of the technology company’s stock worth $1,484,000 after buying an additional 435 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Trading Down 1.9 %

AME traded down $3.26 on Tuesday, reaching $167.79. 305,775 shares of the company’s stock were exchanged, compared to its average volume of 1,114,886. AMETEK, Inc. has a twelve month low of $136.89 and a twelve month high of $186.32. The company’s 50 day moving average is $166.38 and its 200-day moving average is $172.32. The company has a market cap of $38.85 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 2.81 and a beta of 1.18. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.02. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $1.57 earnings per share. Equities analysts predict that AMETEK, Inc. will post 6.77 earnings per share for the current year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Monday, September 16th. AMETEK’s dividend payout ratio is currently 19.68%.

Insider Activity at AMETEK

In other 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 transaction, the director now owns 24,809 shares in the company, valued at approximately $4,315,029.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

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

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.