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

L. Roy Papp & Associates LLP trimmed its position in shares of AMETEK, Inc. (NYSE:AME) by 1.9% in the 3rd quarter, HoldingsChannel.com reports. The fund 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Alaska Department of Revenue raised its stake in shares of AMETEK by 6.1% during the third 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 last quarter. Smith Salley Wealth Management raised its stake in shares of AMETEK by 0.9% during the third 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 last quarter. GHP Investment Advisors Inc. raised its stake in AMETEK by 13.8% in the third quarter. GHP Investment Advisors Inc. now owns 56,731 shares of the technology company’s stock worth $9,741,000 after buying an additional 6,882 shares in the last quarter. Forsta AP Fonden raised its stake in AMETEK by 10.6% in the third quarter. Forsta AP Fonden now owns 47,800 shares of the technology company’s stock worth $8,208,000 after buying an additional 4,600 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in AMETEK by 21.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,538 shares of the technology company’s stock worth $2,329,000 after buying an additional 2,435 shares in the last quarter. 87.43% of the stock is owned by institutional investors.

AMETEK Stock Up 0.2 %

AME traded up $0.38 during midday trading on Friday, reaching $166.96. The company’s stock had a trading volume of 603,943 shares, compared to its average volume of 1,132,897. The firm has a market capitalization of $38.65 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 2.77 and a beta of 1.17. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32. The stock’s 50-day moving average is $168.41 and its 200-day moving average is $169.15.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 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 quarter in the prior year, the company posted $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, research analysts expect that AMETEK, Inc. will post 6.76 EPS for the current year.

AMETEK Announces Dividend

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

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Truist Financial increased their price target on shares of AMETEK from $201.00 to $219.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Wolfe Research raised shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Robert W. Baird decreased their price target on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Mizuho increased their price target on shares of AMETEK from $180.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AMETEK has an average rating of “Moderate Buy” and a consensus price target of $193.29.

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.