AMETEK, Inc. (NYSE:AME) Stake Lifted by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC raised its stake in AMETEK, Inc. (NYSE:AME) by 33.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 26,287 shares of the technology company’s stock after buying an additional 6,583 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in AMETEK were worth $4,738,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc boosted its position 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 acquiring an additional 187 shares during the period. AdvisorNet Financial Inc raised its stake in shares of AMETEK by 1,176.5% during the fourth quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock valued at $39,000 after purchasing an additional 200 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in AMETEK by 42.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock worth $42,000 after purchasing an additional 70 shares during the period. OFI Invest Asset Management bought a new position in AMETEK in the 4th quarter valued at about $43,000. Finally, Anchor Investment Management LLC raised its position in shares of AMETEK by 366.1% during the 3rd quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock worth $45,000 after buying an additional 205 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AME. Truist Financial decreased their price objective on shares of AMETEK from $216.00 to $196.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. Robert W. Baird cut their price objective on AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. BNP Paribas raised AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price on the stock in a report on Thursday, January 16th. Finally, Morgan Stanley assumed coverage on shares of AMETEK in a report on Monday, April 14th. They issued an “equal weight” rating and a $170.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $198.60.

Insider Buying and Selling at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the transaction, the director now owns 22,029 shares in the company, valued at $4,172,512.89. The trade was a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas A. Amato sold 710 shares of the firm’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the sale, the director now directly owns 10,560 shares of the company’s stock, valued at $1,865,318.40. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

AMETEK Price Performance

AME opened at $159.40 on Wednesday. The firm has a market capitalization of $36.78 billion, a P/E ratio of 26.88, a PEG ratio of 2.73 and a beta of 1.14. The stock has a fifty day moving average of $173.17 and a 200-day moving average of $179.53. 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, Inc. has a 12-month low of $145.02 and a 12-month high of $198.33.

AMETEK (NYSE:AME) last announced 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 business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the company posted $1.68 EPS. Equities analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.31 dividend. This is an increase from AMETEK’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a yield of 0.78%. AMETEK’s dividend payout ratio is presently 20.91%.

AMETEK announced that its board has initiated a stock repurchase plan on Friday, February 7th that allows the company to repurchase $1.25 billion in shares. This repurchase authorization allows the technology company to reacquire up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

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.