Forte Capital LLC ADV Cuts Stock Position in AMETEK, Inc. (NYSE:AME)

Forte Capital LLC ADV lessened its holdings in shares of AMETEK, Inc. (NYSE:AME) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,631 shares of the technology company’s stock after selling 2,560 shares during the quarter. AMETEK makes up about 1.7% of Forte Capital LLC ADV’s portfolio, making the stock its 16th biggest holding. Forte Capital LLC ADV’s holdings in AMETEK were worth $15,047,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its stake in AMETEK by 7.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company’s stock worth $157,000 after purchasing an additional 61 shares during the last quarter. MorganRosel Wealth Management LLC boosted its position in shares of AMETEK by 1.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company’s stock valued at $648,000 after acquiring an additional 61 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in shares of AMETEK by 4.8% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock valued at $224,000 after acquiring an additional 61 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of AMETEK by 2.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock valued at $440,000 after acquiring an additional 62 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its position in shares of AMETEK by 2.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock valued at $371,000 after acquiring an additional 63 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Stock Up 4.6 %

Shares of NYSE:AME opened at $190.41 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The firm has a market capitalization of $44.04 billion, a PE ratio of 33.17, a price-to-earnings-growth ratio of 2.91 and a beta of 1.16. The firm’s 50-day moving average is $170.12 and its two-hundred day moving average is $169.06. AMETEK, Inc. has a 1 year low of $141.65 and a 1 year high of $192.20.

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

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

AME has been the topic of several recent research reports. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada lowered their price target 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. StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Monday. Truist Financial upped their target price on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Mizuho upped their target price on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $197.86.

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.