Pitcairn Co. Invests $224,000 in AMETEK, Inc. (NYSE:AME)

Pitcairn Co. purchased a new position in AMETEK, Inc. (NYSE:AME) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,224 shares of the technology company’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in AMETEK by 11.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,669,394 shares of the technology company’s stock valued at $275,266,000 after buying an additional 167,602 shares in the last quarter. Pacer Advisors Inc. boosted its stake in AMETEK by 161.0% during the fourth quarter. Pacer Advisors Inc. now owns 44,684 shares of the technology company’s stock valued at $7,368,000 after buying an additional 27,562 shares in the last quarter. Tyche Wealth Partners LLC bought a new position in AMETEK during the fourth quarter valued at about $6,275,000. Cim LLC bought a new position in AMETEK during the fourth quarter valued at about $1,254,000. Finally, Nomura Holdings Inc. bought a new position in AMETEK during the fourth quarter valued at about $768,000. Institutional investors own 87.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Robert W. Baird decreased their target price on AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Truist Financial reduced their target price on AMETEK from $210.00 to $204.00 and set a “buy” rating for the company in a report on Tuesday, July 2nd. Finally, Oppenheimer raised AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a report on Wednesday, May 22nd. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $181.20.

AMETEK Stock Up 0.9 %

AME opened at $168.52 on Friday. AMETEK, Inc. has a fifty-two week low of $136.89 and a fifty-two week high of $186.32. The business has a 50-day moving average of $169.35 and a 200-day moving average of $172.35. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66. The company has a market capitalization of $39.01 billion, a PE ratio of 29.62, a price-to-earnings-growth ratio of 2.68 and a beta of 1.18.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period last year, the business earned $1.49 EPS. The business’s quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts forecast that AMETEK, Inc. will post 6.81 EPS for the current fiscal year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Friday, June 14th. AMETEK’s dividend payout ratio is 19.68%.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total transaction of $250,459.20. Following the transaction, the director now owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other AMETEK news, Director Steven W. Kohlhagen sold 1,470 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the sale, the director now owns 26,249 shares of the company’s stock, valued at approximately $4,467,579.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven W. Kohlhagen sold 1,440 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the completion of the sale, the director now directly owns 24,809 shares in the company, valued at approximately $4,315,029.37. The disclosure for this sale can be found here. 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.