Quarry LP Boosts Stock Position in AMETEK, Inc. (NYSE:AME)

Quarry LP grew its holdings in shares of AMETEK, Inc. (NYSE:AME) by 226.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 300 shares of the technology company’s stock after buying an additional 208 shares during the quarter. Quarry LP’s holdings in AMETEK were worth $52,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in AMETEK by 34.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after acquiring an additional 926,657 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of AMETEK by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,882,166 shares of the technology company’s stock valued at $313,777,000 after purchasing an additional 148,447 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of AMETEK by 72.0% during the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock worth $288,526,000 after purchasing an additional 703,501 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in AMETEK by 12.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,660,133 shares of the technology company’s stock worth $276,761,000 after purchasing an additional 186,263 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in AMETEK by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,291,649 shares of the technology company’s stock valued at $221,789,000 after buying an additional 19,435 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Activity at AMETEK

In other news, insider Tony J. Ciampitti sold 16,210 shares of AMETEK stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the transaction, the insider now directly owns 49,490 shares in the company, valued at approximately $9,750,024.90. This trade represents a 24.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,660 shares of company stock worth $5,958,141 over the last ninety days. 0.61% of the stock is currently owned by corporate insiders.

AMETEK Trading Down 0.9 %

AMETEK stock opened at $189.89 on Tuesday. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week high of $198.33. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $43.92 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 3.13 and a beta of 1.15. The firm has a 50-day moving average price of $181.68 and a two-hundred day moving average price of $172.62.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the firm posted $1.64 earnings per share. The business’s revenue was up 5.3% on a year-over-year basis. Sell-side analysts expect that AMETEK, Inc. will post 6.8 earnings per share for the current year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Friday, December 6th. AMETEK’s dividend payout ratio is currently 19.51%.

Analyst Ratings Changes

A number of research firms have commented on AME. TD Cowen downgraded AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Wolfe Research raised shares of AMETEK to a “hold” rating in a report on Wednesday, September 18th. Mizuho increased their target price on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. Finally, Truist Financial increased their price objective on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $199.29.

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.