Marks Group Wealth Management Inc Sells 509 Shares of AMETEK, Inc. (NYSE:AME)

Marks Group Wealth Management Inc decreased its position in AMETEK, Inc. (NYSE:AME) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,730 shares of the technology company’s stock after selling 509 shares during the quarter. AMETEK makes up 0.9% of Marks Group Wealth Management Inc’s portfolio, making the stock its 29th biggest position. Marks Group Wealth Management Inc’s holdings in AMETEK were worth $7,870,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of AMETEK in the 4th quarter worth about $25,000. Wetzel Investment Advisors Inc. purchased a new stake in AMETEK in the fourth quarter worth about $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of AMETEK during the fourth quarter valued at approximately $26,000. Bruce G. Allen Investments LLC purchased a new position in shares of AMETEK during the fourth quarter valued at approximately $28,000. Finally, Rakuten Securities Inc. bought a new stake in shares of AMETEK in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Analyst Upgrades and Downgrades

AME has been the subject of a number of analyst reports. Truist Financial began coverage on AMETEK in a research report on Thursday, March 14th. They set a “buy” rating and a $210.00 price objective for the company. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. KeyCorp increased their price objective on shares of AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Finally, Royal Bank of Canada reduced their price objective on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $180.78.

AMETEK Stock Performance

NYSE:AME traded up $0.16 during mid-day trading on Monday, reaching $177.86. The company’s stock had a trading volume of 599,910 shares, compared to its average volume of 940,495. The firm’s fifty day moving average price is $179.63 and its two-hundred day moving average price is $164.77. The company has a current ratio of 0.98, a quick ratio of 0.59 and a debt-to-equity ratio of 0.22. The stock has a market cap of $41.12 billion, a P/E ratio of 31.37, a PEG ratio of 2.84 and a beta of 1.22. AMETEK, Inc. has a 12-month low of $133.12 and a 12-month high of $186.32.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.06. AMETEK had a net margin of 19.91% and a return on equity of 17.96%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm earned $1.52 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts forecast that AMETEK, Inc. will post 6.82 EPS for the current fiscal year.

AMETEK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were issued a $0.28 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. AMETEK’s payout ratio is presently 19.75%.

Insider Activity at AMETEK

In other news, CFO William Joseph Burke sold 27,400 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $185.05, for a total transaction of $5,070,370.00. Following the completion of the sale, the chief financial officer now owns 106,512 shares of the company’s stock, valued at approximately $19,710,045.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO William Joseph Burke sold 27,400 shares of AMETEK stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $185.05, for a total transaction of $5,070,370.00. Following the transaction, the chief financial officer now owns 106,512 shares in the company, valued at approximately $19,710,045.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas M. Montgomery sold 6,891 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $185.38, for a total value of $1,277,453.58. Following the completion of the sale, the vice president now owns 21,543 shares of the company’s stock, valued at $3,993,641.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,881 shares of company stock worth $10,689,758. 0.61% of the stock is 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.