EverSource Wealth Advisors LLC Buys 552 Shares of AMETEK, Inc. (NYSE:AME)

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EverSource Wealth Advisors LLC raised its stake in AMETEK, Inc. (NYSE:AMEGet Rating) by 460.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 672 shares of the technology company’s stock after acquiring an additional 552 shares during the period. EverSource Wealth Advisors LLC’s holdings in AMETEK were worth $90,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Roffman Miller Associates Inc. PA grew its stake in shares of AMETEK by 6.4% in the 1st quarter. Roffman Miller Associates Inc. PA now owns 81,691 shares of the technology company’s stock worth $10,880,000 after buying an additional 4,921 shares in the last quarter. Neuberger Berman Group LLC grew its stake in shares of AMETEK by 2.3% in the 1st quarter. Neuberger Berman Group LLC now owns 869,070 shares of the technology company’s stock worth $115,742,000 after buying an additional 19,802 shares in the last quarter. EP Wealth Advisors LLC grew its stake in shares of AMETEK by 5.4% in the 1st quarter. EP Wealth Advisors LLC now owns 4,749 shares of the technology company’s stock worth $632,000 after buying an additional 242 shares in the last quarter. Toroso Investments LLC grew its stake in shares of AMETEK by 9.0% in the 1st quarter. Toroso Investments LLC now owns 2,663 shares of the technology company’s stock worth $355,000 after buying an additional 219 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in shares of AMETEK by 0.3% in the 1st quarter. Capital Research Global Investors now owns 329,807 shares of the technology company’s stock worth $43,943,000 after buying an additional 1,011 shares in the last quarter. 85.46% of the stock is currently owned by institutional investors.

AMETEK Price Performance

AMETEK stock opened at $118.95 on Friday. The stock has a market cap of $27.31 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 2.39 and a beta of 1.26. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.48 and a quick ratio of 0.88. AMETEK, Inc. has a 1 year low of $106.17 and a 1 year high of $148.07. The firm has a 50-day moving average of $121.37 and a two-hundred day moving average of $122.78.

AMETEK (NYSE:AMEGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The technology company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.09. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.46 billion. AMETEK had a net margin of 18.49% and a return on equity of 18.20%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.15 EPS. On average, research analysts forecast that AMETEK, Inc. will post 5.52 earnings per share for the current year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, September 14th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $0.88 annualized dividend and a dividend yield of 0.74%. AMETEK’s dividend payout ratio is currently 18.72%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Bank of America cut shares of AMETEK from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $170.00 to $122.00 in a research note on Monday, July 11th. Morgan Stanley lifted their price target on shares of AMETEK from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 3rd. Mizuho lifted their price target on shares of AMETEK from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Friday. Finally, DA Davidson lifted their price target on shares of AMETEK to $160.00 in a research note on Tuesday, August 9th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $148.56.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 3,100 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $123.75, for a total value of $383,625.00. Following the completion of the sale, the director now owns 42,864 shares in the company, valued at approximately $5,304,420. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Steven W. Kohlhagen sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $126.81, for a total transaction of $380,430.00. Following the completion of the transaction, the director now owns 45,964 shares in the company, valued at approximately $5,828,694.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven W. Kohlhagen sold 3,100 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $123.75, for a total transaction of $383,625.00. Following the transaction, the director now owns 42,864 shares of the company’s stock, valued at approximately $5,304,420. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

AMETEK Company Profile

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AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

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