Exchange Traded Concepts LLC Buys New Stake in AMETEK, Inc. (NYSE:AME)

Exchange Traded Concepts LLC acquired a new stake in shares of AMETEK, Inc. (NYSE:AME) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,545 shares of the technology company’s stock, valued at approximately $1,124,000.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its position in AMETEK by 48.4% during the first quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock valued at $1,294,121,000 after acquiring an additional 2,306,535 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of AMETEK by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company’s stock worth $1,195,478,000 after purchasing an additional 44,899 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of AMETEK by 34.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after purchasing an additional 926,657 shares in the last quarter. Boston Partners lifted its stake in shares of AMETEK by 3.0% in the 1st quarter. Boston Partners now owns 3,063,588 shares of the technology company’s stock valued at $560,278,000 after purchasing an additional 90,271 shares during the period. Finally, Flossbach Von Storch AG boosted its holdings in AMETEK by 3.4% during the first quarter. Flossbach Von Storch AG now owns 2,673,507 shares of the technology company’s stock worth $488,984,000 after buying an additional 87,477 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Stock Performance

Shares of NYSE:AME opened at $169.71 on Thursday. The business’s 50 day moving average price is $167.42 and its 200-day moving average price is $169.77. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76. The firm has a market capitalization of $39.28 billion, a PE ratio of 29.83, a P/E/G ratio of 2.77 and a beta of 1.17.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.57 earnings per share. As a group, equities research analysts expect that AMETEK, Inc. will post 6.76 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.28 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

Insider Activity at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the sale, the director now directly owns 23,349 shares in the company, valued at $4,006,454.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AME. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. TD Cowen cut AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Robert W. Baird dropped their price objective on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada decreased their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $193.83.

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.