DRW Securities LLC Invests $422,000 in AMETEK, Inc. (NYSE:AME)

DRW Securities LLC purchased a new stake in shares of AMETEK, Inc. (NYSE:AME) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,459 shares of the technology company’s stock, valued at approximately $422,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AME. Czech National Bank raised its holdings in shares of AMETEK by 8.6% during the second quarter. Czech National Bank now owns 44,108 shares of the technology company’s stock valued at $7,353,000 after acquiring an additional 3,499 shares in the last quarter. CWM LLC raised its holdings in AMETEK by 53.9% in the 2nd quarter. CWM LLC now owns 10,594 shares of the technology company’s stock worth $1,766,000 after purchasing an additional 3,711 shares in the last quarter. Swedbank AB bought a new position in AMETEK in the 1st quarter worth $3,833,000. Cetera Investment Advisers lifted its position in shares of AMETEK by 573.2% in the 1st quarter. Cetera Investment Advisers now owns 59,754 shares of the technology company’s stock worth $10,929,000 after purchasing an additional 50,878 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of AMETEK by 68.2% during the second quarter. Assenagon Asset Management S.A. now owns 152,132 shares of the technology company’s stock valued at $25,362,000 after buying an additional 61,677 shares during the period. Institutional investors own 87.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on AME shares. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Robert W. Baird lifted their price target on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Wolfe Research upgraded AMETEK to a “hold” rating in a report on Wednesday, September 18th. Truist Financial boosted their target price on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Mizuho lifted their price target 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 investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, AMETEK has a consensus rating of “Moderate Buy” and an average price target of $199.29.

Insider Buying and Selling

In related 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 transaction of $250,521.40. Following the transaction, the director now owns 23,349 shares in the company, valued at $4,006,454.91. This represents a 5.88 % 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. Also, insider Tony J. Ciampitti sold 16,210 shares of AMETEK stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 49,490 shares of the company’s stock, valued at approximately $9,750,024.90. This trade represents a 24.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,913 shares of company stock worth $4,636,404. 0.61% of the stock is owned by corporate insiders.

AMETEK Stock Up 0.0 %

NYSE:AME opened at $197.13 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. The firm has a market cap of $45.60 billion, a P/E ratio of 34.34, a P/E/G ratio of 3.22 and a beta of 1.16. AMETEK, Inc. has a fifty-two week low of $149.03 and a fifty-two week high of $198.33. The firm has a 50-day simple moving average of $177.61 and a two-hundred day simple moving average of $171.09.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.04. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.64 earnings per share. Analysts predict that AMETEK, Inc. will post 6.8 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Friday, December 6th. AMETEK’s payout ratio is currently 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.