First Trust Direct Indexing L.P. Buys 1,941 Shares of AMETEK, Inc. (NYSE:AME)

First Trust Direct Indexing L.P. grew its stake in shares of AMETEK, Inc. (NYSE:AME) by 28.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,781 shares of the technology company’s stock after acquiring an additional 1,941 shares during the period. First Trust Direct Indexing L.P.’s holdings in AMETEK were worth $1,508,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its stake in shares of AMETEK by 7.3% during the first quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company’s stock valued at $157,000 after acquiring an additional 61 shares in the last quarter. MorganRosel Wealth Management LLC raised its stake in shares of AMETEK by 1.6% during the second quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company’s stock valued at $648,000 after acquiring an additional 61 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of AMETEK by 4.8% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock valued at $224,000 after acquiring an additional 61 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in AMETEK by 2.4% during the second quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock valued at $440,000 after buying an additional 62 shares during the period. Finally, Checchi Capital Advisers LLC increased its holdings in AMETEK by 2.9% during the second quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock valued at $371,000 after buying an additional 63 shares during the period. Institutional investors own 87.43% of the company’s stock.

AMETEK Stock Performance

AMETEK stock opened at $183.40 on Friday. The firm has a 50 day simple moving average of $168.95 and a 200-day simple moving average of $169.00. 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 stock has a market cap of $42.45 billion, a price-to-earnings ratio of 32.23, a price-to-earnings-growth ratio of 2.77 and a beta of 1.17.

AMETEK (NYSE:AME) last posted its quarterly 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. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the company posted $1.57 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts expect that AMETEK, Inc. will post 6.76 EPS for the current year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.28 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. AMETEK’s dividend payout ratio (DPR) is 19.68%.

Insider Transactions at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

AME has been the topic of several research reports. Royal Bank of Canada cut their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Truist Financial lifted their price objective on shares of AMETEK from $201.00 to $219.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Mizuho lifted their price objective on shares of AMETEK from $180.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Wolfe Research raised shares of AMETEK to a “hold” rating in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $193.29.

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.