L. Roy Papp & Associates LLP Sells 680 Shares of AMETEK, Inc. (NYSE:AME)

L. Roy Papp & Associates LLP decreased its holdings in shares of AMETEK, Inc. (NYSE:AME) by 1.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,502 shares of the technology company’s stock after selling 680 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in AMETEK were worth $6,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State of Alaska Department of Revenue raised its holdings in AMETEK by 6.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 30,300 shares of the technology company’s stock valued at $5,202,000 after acquiring an additional 1,735 shares during the period. Smith Salley Wealth Management raised its holdings in AMETEK by 0.9% during the 3rd quarter. Smith Salley Wealth Management now owns 126,829 shares of the technology company’s stock valued at $21,778,000 after acquiring an additional 1,118 shares during the period. GHP Investment Advisors Inc. raised its holdings in AMETEK by 13.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 56,731 shares of the technology company’s stock valued at $9,741,000 after acquiring an additional 6,882 shares during the period. Forsta AP Fonden raised its holdings in AMETEK by 10.6% during the 3rd quarter. Forsta AP Fonden now owns 47,800 shares of the technology company’s stock valued at $8,208,000 after acquiring an additional 4,600 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in AMETEK by 21.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,538 shares of the technology company’s stock valued at $2,329,000 after acquiring an additional 2,435 shares during the period. Institutional investors own 87.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AME shares. Wolfe Research raised shares of AMETEK to a “hold” rating in a report on Wednesday, September 18th. Truist Financial boosted their price target on shares of AMETEK from $201.00 to $219.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Robert W. Baird reduced their price target on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $193.29.

AMETEK Price Performance

NYSE:AME traded up $0.38 during midday trading on Friday, hitting $166.96. The company had a trading volume of 603,943 shares, compared to its average volume of 1,132,897. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32. The stock’s fifty day moving average price is $168.41 and its 200-day moving average price is $169.15. The company has a market capitalization of $38.65 billion, a PE ratio of 29.34, a P/E/G ratio of 2.77 and a beta of 1.17. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.02. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.57 earnings per share. As a group, research analysts expect that AMETEK, Inc. will post 6.76 earnings per share for the current year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.67%. The ex-dividend date was Monday, September 16th. AMETEK’s dividend payout ratio is presently 19.68%.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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.