Magnetar Financial LLC Buys Shares of 2,919 AMETEK, Inc. (NYSE:AME)

Magnetar Financial LLC purchased a new position in shares of AMETEK, Inc. (NYSE:AME) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,919 shares of the technology company’s stock, valued at approximately $534,000.

A number of other institutional investors have also modified their holdings of AME. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of AMETEK in the fourth quarter valued at $25,000. Wetzel Investment Advisors Inc. purchased a new position in shares of AMETEK during the 4th quarter worth about $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of AMETEK in the fourth quarter worth approximately $26,000. Rakuten Securities Inc. purchased a new stake in AMETEK in the fourth quarter valued at approximately $31,000. Finally, Washington Trust Advisors Inc. acquired a new position in AMETEK during the first quarter worth approximately $37,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Buying and Selling

In other AMETEK news, Director Steven W. Kohlhagen sold 1,470 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total transaction of $250,194.00. Following the sale, the director now directly owns 26,249 shares in the company, valued at approximately $4,467,579.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Steven W. Kohlhagen sold 1,440 shares of the firm’s 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 completion of the transaction, the director now owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven W. Kohlhagen sold 1,470 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following the completion of the sale, the director now owns 26,249 shares in the company, valued at $4,467,579.80. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

AME has been the subject of several research reports. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Robert W. Baird dropped their price objective on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Truist Financial reduced their target price on shares of AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock 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 price objective on the stock in a research report on Wednesday, May 22nd. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $181.20.

AMETEK Stock Up 0.1 %

Shares of AME stock traded up $0.17 during mid-day trading on Monday, reaching $172.44. 16,920 shares of the company were exchanged, compared to its average volume of 1,044,915. The business’s 50 day simple moving average is $169.46 and its 200 day simple moving average is $172.55. AMETEK, Inc. has a fifty-two week low of $136.89 and a fifty-two week high of $186.32. The company has a market capitalization of $39.91 billion, a P/E ratio of 30.28, a P/E/G ratio of 2.77 and a beta of 1.18. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 1.11.

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

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Friday, June 14th. AMETEK’s dividend payout ratio is currently 19.68%.

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.