Empirical Finance LLC Boosts Holdings in AMETEK, Inc. (NYSE:AME)

Empirical Finance LLC lifted its stake in shares of AMETEK, Inc. (NYSE:AME) by 2.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,946 shares of the technology company’s stock after purchasing an additional 184 shares during the period. Empirical Finance LLC’s holdings in AMETEK were worth $1,364,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of AME. JPMorgan Chase & Co. raised its holdings in AMETEK by 48.4% in the 1st 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 during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of AMETEK by 0.7% during the first 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 buying an additional 44,899 shares during the period. Bank of New York Mellon Corp boosted its holdings in 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 acquiring an additional 926,657 shares during the period. Boston Partners grew its holdings in shares of AMETEK by 3.0% in the first 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 in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of AMETEK by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,882,166 shares of the technology company’s stock worth $313,777,000 after acquiring an additional 148,447 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Buying and Selling

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the 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 sale, the director now directly owns 23,349 shares in the company, valued at $4,006,454.91. This represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David F. Hermance sold 6,243 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the transaction, the insider now directly owns 36,731 shares of the company’s stock, valued at approximately $7,015,253.69. This trade represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AME has been the topic of a number of recent analyst reports. Royal Bank of Canada dropped their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Wolfe Research raised shares of AMETEK to a “hold” rating in a report on Wednesday, September 18th. Mizuho raised their price target on AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Truist Financial upped their price objective on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $197.86.

AMETEK Price Performance

Shares of AME opened at $193.10 on Friday. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average is $173.59 and its two-hundred day moving average is $169.82. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $196.70. The firm has a market capitalization of $44.67 billion, a PE ratio of 33.64, a P/E/G ratio of 3.19 and a beta of 1.16.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.64 earnings per share. Research analysts anticipate that AMETEK, Inc. will post 6.81 earnings per share for the current year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.28 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. AMETEK’s dividend payout ratio is presently 19.51%.

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.