Wealth Enhancement Advisory Services LLC Purchases 10,685 Shares of AMETEK, Inc. (NYSE:AME)

Wealth Enhancement Advisory Services LLC raised its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 10.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 115,194 shares of the technology company's stock after purchasing an additional 10,685 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in AMETEK were worth $19,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of AMETEK during the fourth quarter worth about $697,080,000. Capital World Investors lifted its holdings in shares of AMETEK by 70.0% during the fourth quarter. Capital World Investors now owns 5,760,017 shares of the technology company's stock worth $1,038,301,000 after purchasing an additional 2,371,062 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of AMETEK by 393.1% during the fourth quarter. Lazard Asset Management LLC now owns 1,215,087 shares of the technology company's stock worth $219,030,000 after purchasing an additional 968,661 shares during the period. GAMMA Investing LLC lifted its holdings in shares of AMETEK by 18,368.3% during the first quarter. GAMMA Investing LLC now owns 973,280 shares of the technology company's stock worth $167,540,000 after purchasing an additional 968,010 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of AMETEK by 240.3% during the fourth quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company's stock worth $202,805,000 after purchasing an additional 794,473 shares during the period. Hedge funds and other institutional investors own 87.43% of the company's stock.

AMETEK Stock Down 0.7%

Shares of NYSE:AME opened at $176.59 on Friday. 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, Inc. has a 52-week low of $145.02 and a 52-week high of $198.33. The stock's fifty day simple moving average is $173.25 and its 200-day simple moving average is $177.58. The company has a market capitalization of $40.77 billion, a P/E ratio of 28.90, a P/E/G ratio of 2.65 and a beta of 1.10.

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

AMETEK Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Morgan Stanley assumed coverage on AMETEK in a report on Monday, April 14th. They issued an "equal weight" rating and a $170.00 price target for the company. Wall Street Zen raised AMETEK from a "hold" rating to a "buy" rating in a 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 report on Monday, May 5th. Robert W. Baird reduced their target price on AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Finally, Mizuho set a $212.00 target price on AMETEK in a research note on Friday, May 16th. 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 MarketBeat.com, AMETEK currently has an average rating of "Moderate Buy" and an average target price of $197.89.

Insider Activity

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

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.

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