Biltmore Wealth Management LLC Sells 628 Shares of AMETEK, Inc. (NYSE:AME)

Biltmore Wealth Management LLC cut its holdings in AMETEK, Inc. (NYSE:AME) by 11.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,787 shares of the technology company’s stock after selling 628 shares during the period. AMETEK makes up 0.3% of Biltmore Wealth Management LLC’s investment portfolio, making the stock its 27th biggest holding. Biltmore Wealth Management LLC’s holdings in AMETEK were worth $798,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Wetzel Investment Advisors Inc. acquired a new position in AMETEK during the 4th quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of AMETEK during the fourth quarter valued at about $26,000. Rakuten Securities Inc. acquired a new position in AMETEK in the fourth quarter worth about $31,000. Washington Trust Advisors Inc. acquired a new position in AMETEK in the first quarter worth about $37,000. Finally, Headlands Technologies LLC acquired a new position in AMETEK in the first quarter worth about $43,000. 87.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Royal Bank of Canada dropped their price target on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. TD Cowen decreased their price objective on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Oppenheimer raised shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research note on Wednesday, May 22nd. Finally, StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $186.29.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the sale, the director now directly owns 24,809 shares in the company, valued at $4,315,029.37. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Steven W. Kohlhagen sold 1,440 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the sale, the director now directly owns 24,809 shares in the company, valued at $4,315,029.37. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven W. Kohlhagen sold 1,470 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following 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. Company insiders own 0.61% of the company’s stock.

AMETEK Price Performance

Shares of AME traded up $0.67 during mid-day trading on Friday, hitting $159.52. 1,812,809 shares of the company traded hands, compared to its average volume of 1,128,608. AMETEK, Inc. has a one year low of $136.89 and a one year high of $186.32. The stock has a market capitalization of $36.92 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 2.57 and a beta of 1.18. The company has a current ratio of 1.26, a quick ratio of 0.66 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average of $167.70 and a 200 day moving average of $172.45.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period last year, the firm earned $1.57 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities analysts expect that AMETEK, Inc. will post 6.78 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.28 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.12 annualized dividend and a yield of 0.70%. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

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.