Net Worth Advisory Group Purchases 87 Shares of AMETEK, Inc. (NYSE:AME)

Net Worth Advisory Group raised its stake in AMETEK, Inc. (NYSE:AME) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,834 shares of the technology company’s stock after purchasing an additional 87 shares during the quarter. Net Worth Advisory Group’s holdings in AMETEK were worth $871,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oddo BHF Asset Management Sas bought a new stake in AMETEK in the third quarter valued at approximately $3,724,000. Everence Capital Management Inc. bought a new stake in AMETEK in the fourth quarter valued at approximately $999,000. Czech National Bank lifted its position in AMETEK by 6.3% in the fourth quarter. Czech National Bank now owns 50,153 shares of the technology company’s stock valued at $9,041,000 after purchasing an additional 2,987 shares during the last quarter. BNP Paribas Financial Markets lifted its position in AMETEK by 23.2% in the third quarter. BNP Paribas Financial Markets now owns 355,828 shares of the technology company’s stock valued at $61,099,000 after purchasing an additional 67,025 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in AMETEK by 434.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company’s stock valued at $97,614,000 after purchasing an additional 440,197 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.

Insider Buying and Selling

In other news, Director Steven W. Kohlhagen sold 1,320 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the sale, the director now directly owns 22,029 shares of the company’s stock, valued at approximately $4,172,512.89. This represents a 5.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.61% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on the company. Robert W. Baird lowered their price objective on AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Truist Financial boosted their price objective on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and boosted their target price for the company from $195.00 to $225.00 in a research note on Monday, December 16th. KeyCorp boosted their target price on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a research note on Sunday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $204.67.

AMETEK Price Performance

Shares of AME stock opened at $179.38 on Tuesday. The stock has a market cap of $41.37 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 2.73 and a beta of 1.14. The business’s fifty day moving average is $183.35 and its 200 day moving average is $180.13. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.82 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.68 earnings per share. Research analysts expect that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK announced that its board has approved a share repurchase program on Friday, February 7th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

AMETEK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 0.69%. This is a boost from AMETEK’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, March 14th. AMETEK’s dividend payout ratio is presently 20.91%.

AMETEK 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.