1,858 Shares in AMETEK, Inc. (NYSE:AME) Bought by Wealthspire Advisors LLC

Wealthspire Advisors LLC acquired a new position in shares of AMETEK, Inc. (NYSE:AME) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,858 shares of the technology company’s stock, valued at approximately $335,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AME. Versant Capital Management Inc lifted its holdings in AMETEK by 3,116.7% during the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock worth $35,000 after buying an additional 187 shares during the period. Itau Unibanco Holding S.A. lifted its holdings in AMETEK by 62.6% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock worth $34,000 after buying an additional 77 shares during the period. AdvisorNet Financial Inc lifted its holdings in AMETEK by 1,176.5% during the 4th quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock worth $39,000 after buying an additional 200 shares during the period. Geneos Wealth Management Inc. lifted its holdings in AMETEK by 42.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock worth $42,000 after buying an additional 70 shares during the period. Finally, Quent Capital LLC lifted its holdings in AMETEK by 60.9% during the 4th quarter. Quent Capital LLC now owns 251 shares of the technology company’s stock worth $45,000 after buying an additional 95 shares during the period. Institutional investors own 87.43% of the company’s stock.

AMETEK Stock Performance

Shares of AMETEK stock opened at $187.27 on Friday. AMETEK, Inc. has a one year low of $149.03 and a one year high of $198.33. The firm has a market capitalization of $43.32 billion, a price-to-earnings ratio of 31.58, a PEG ratio of 2.73 and a beta of 1.16. The business has a 50-day simple moving average of $183.13 and a 200 day simple moving average of $178.87. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75.

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

AMETEK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.31 per share. This is a positive change from AMETEK’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Friday, March 14th. AMETEK’s payout ratio is currently 18.89%.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AME shares. BNP Paribas raised AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research note on Thursday, January 16th. Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $195.00 to $225.00 in a research note on Monday, December 16th. Truist Financial boosted their price objective on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Robert W. Baird dropped their price objective on AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Finally, StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $204.67.

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.