AMETEK, Inc. (NYSE:AME) Shares Purchased by Procyon Advisors LLC

Procyon Advisors LLC raised its stake in AMETEK, Inc. (NYSE:AME) by 7.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,146 shares of the technology company’s stock after buying an additional 155 shares during the quarter. Procyon Advisors LLC’s holdings in AMETEK were worth $387,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. EdgePoint Investment Group Inc. raised its holdings in AMETEK by 87.9% during the third quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock worth $337,279,000 after purchasing an additional 918,737 shares in the last quarter. Meridiem Investment Management Ltd. bought a new stake in shares of AMETEK in the 3rd quarter worth $130,579,000. Principal Financial Group Inc. raised its stake in shares of AMETEK by 72.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock worth $288,526,000 after buying an additional 703,501 shares in the last quarter. D1 Capital Partners L.P. bought a new position in AMETEK during the third quarter valued at about $79,782,000. Finally, Assenagon Asset Management S.A. grew its holdings in AMETEK by 434.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company’s stock worth $97,614,000 after acquiring an additional 440,197 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Stock Performance

Shares of AME opened at $180.74 on Monday. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $198.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. The company has a market capitalization of $41.81 billion, a PE ratio of 31.49, a PEG ratio of 2.51 and a beta of 1.16. The company’s 50 day moving average price is $187.17 and its 200 day moving average price is $175.19.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.64 earnings per share. Research analysts expect that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Friday, December 6th. AMETEK’s payout ratio is 19.51%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Mizuho lifted their price target on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Bank of America upgraded AMETEK from a “neutral” rating to a “buy” rating and increased their price objective for the company from $195.00 to $225.00 in a research report on Monday, December 16th. Robert W. Baird lifted their target price on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, BNP Paribas raised AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $203.44.

Insider Buying and Selling

In other news, insider Tony J. Ciampitti sold 16,210 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total value of $3,193,532.10. Following the completion of the sale, the insider now directly owns 49,490 shares of the company’s stock, valued at approximately $9,750,024.90. This represents a 24.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Emanuela Speranza sold 6,747 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was 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 owns 30,460 shares in the company, valued at approximately $5,967,114. The trade was a 18.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,200 shares of company stock worth $5,707,620. 0.61% of the stock is currently owned by insiders.

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.