Cornerstone Capital Inc. Increases Position in AMETEK, Inc. (NYSE:AME)

Cornerstone Capital Inc. lifted its position in shares of AMETEK, Inc. (NYSE:AME) by 31.3% during the third quarter, Holdings Channel reports. The institutional investor owned 124,183 shares of the technology company’s stock after purchasing an additional 29,571 shares during the period. AMETEK makes up approximately 2.0% of Cornerstone Capital Inc.’s investment portfolio, making the stock its 19th biggest position. Cornerstone Capital Inc.’s holdings in AMETEK were worth $21,323,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. EverSource Wealth Advisors LLC grew its stake in AMETEK by 7.3% during the first quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company’s stock valued at $157,000 after acquiring an additional 61 shares in the last quarter. MorganRosel Wealth Management LLC increased its holdings in shares of AMETEK by 1.6% in the second quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company’s stock worth $648,000 after purchasing an additional 61 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in shares of AMETEK by 4.8% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock worth $224,000 after buying an additional 61 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in AMETEK by 2.4% during the second quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock valued at $440,000 after buying an additional 62 shares during the last quarter. Finally, Checchi Capital Advisers LLC grew its holdings in 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 buying an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insiders Place Their Bets

In other news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

AME has been the topic of several recent research reports. Wolfe Research raised AMETEK to a “hold” rating in a report on Wednesday, September 18th. StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Monday. Robert W. Baird lifted their price objective on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research note 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. Finally, Royal Bank of Canada dropped their price target on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AMETEK has a consensus rating of “Moderate Buy” and an average price target of $197.86.

AMETEK Trading Up 0.8 %

Shares of NYSE:AME traded up $1.50 during trading hours on Tuesday, hitting $181.42. 250,902 shares of the company’s stock traded hands, compared to its average volume of 1,139,078. 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 business has a fifty day moving average price of $169.41 and a 200-day moving average price of $168.88. AMETEK, Inc. has a 1 year low of $141.65 and a 1 year high of $186.32. The firm has a market capitalization of $41.96 billion, a P/E ratio of 31.34, a price-to-earnings-growth ratio of 2.91 and a beta of 1.16.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. AMETEK’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.64 EPS. Equities analysts expect that AMETEK, Inc. will post 6.81 earnings per share for the current year.

AMETEK Dividend Announcement

The business also recently disclosed 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 was Monday, September 16th. This represents a $1.12 annualized dividend and a yield of 0.62%. AMETEK’s dividend payout ratio (DPR) is 19.51%.

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.