Exchange Traded Concepts LLC Raises Holdings in AMETEK, Inc. (NYSE:AME)

Exchange Traded Concepts LLC lifted its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 3,078.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,970 shares of the technology company's stock after purchasing an additional 25,153 shares during the period. Exchange Traded Concepts LLC's holdings in AMETEK were worth $4,470,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Savant Capital LLC increased its stake in shares of AMETEK by 11.1% during the fourth quarter. Savant Capital LLC now owns 3,120 shares of the technology company's stock worth $562,000 after purchasing an additional 312 shares during the period. Vontobel Holding Ltd. increased its position in AMETEK by 7.5% during the 4th quarter. Vontobel Holding Ltd. now owns 5,348 shares of the technology company's stock worth $964,000 after buying an additional 373 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in shares of AMETEK by 23.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 183,024 shares of the technology company's stock worth $32,992,000 after buying an additional 34,866 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of AMETEK by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 1,749,446 shares of the technology company's stock valued at $315,355,000 after acquiring an additional 69,137 shares during the period. Finally, Catalyst Capital Advisors LLC grew its stake in shares of AMETEK by 188.1% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the technology company's stock valued at $65,000 after acquiring an additional 237 shares in the last quarter. 87.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AME. Robert W. Baird cut their price objective on shares of AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Wall Street Zen upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Truist Financial boosted their price target on AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Royal Bank Of Canada raised their price objective on AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, Mizuho set a $212.00 price target on shares of AMETEK in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $197.89.

AMETEK Stock Down 0.6%

AME traded down $1.03 during trading on Friday, hitting $176.73. 1,012,676 shares of the company's stock were exchanged, compared to its average volume of 1,287,570. AMETEK, Inc. has a fifty-two week low of $145.02 and a fifty-two week high of $198.33. The stock has a market cap of $40.80 billion, a P/E ratio of 28.93, a PEG ratio of 2.66 and a beta of 1.10. The business's 50 day moving average is $172.89 and its two-hundred day moving average is $177.82. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.15.

AMETEK (NYSE:AME - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share for the quarter, topping analysts' consensus estimates of $1.69 by $0.06. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. The firm's revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.64 EPS. As a group, equities analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 0.70%. The ex-dividend date is Friday, June 13th. AMETEK's dividend payout ratio (DPR) is presently 20.29%.

Insiders Place Their Bets

In other news, Director Thomas A. Amato sold 710 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the completion of the transaction, the director now directly owns 10,560 shares of the company's stock, valued at $1,865,318.40. This represents a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.57% of the company's stock.

AMETEK 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.