Focus Partners Advisor Solutions LLC Boosts Stake in AMETEK, Inc. (NYSE:AME)

Focus Partners Advisor Solutions LLC raised its holdings in AMETEK, Inc. (NYSE:AME) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,767 shares of the technology company’s stock after purchasing an additional 249 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in AMETEK were worth $1,580,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Banque Transatlantique SA acquired a new stake in shares of AMETEK in the fourth quarter valued at $37,000. Geneos Wealth Management Inc. grew its stake in shares of AMETEK by 42.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock valued at $42,000 after buying an additional 70 shares in the last quarter. Minot DeBlois Advisors LLC acquired a new stake in shares of AMETEK in the fourth quarter valued at $43,000. OFI Invest Asset Management acquired a new stake in shares of AMETEK in the fourth quarter valued at $43,000. Finally, Quent Capital LLC grew its stake in shares of AMETEK by 60.9% in the fourth quarter. Quent Capital LLC now owns 251 shares of the technology company’s stock valued at $45,000 after buying an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AME has been the subject of a number of research reports. Wall Street Zen raised AMETEK from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Truist Financial boosted their target price on AMETEK from $196.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Royal Bank of Canada boosted their target price on AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Mizuho set a $212.00 target price on AMETEK in a research note on Friday, May 16th. Finally, Morgan Stanley started coverage on AMETEK in a research note on Monday, April 14th. They set an “equal weight” rating and a $170.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AMETEK has an average rating of “Moderate Buy” and a consensus price target of $197.89.

AMETEK Stock Up 0.5%

Shares of NYSE AME opened at $178.55 on Friday. The stock has a market cap of $41.22 billion, a PE ratio of 30.11, a price-to-earnings-growth ratio of 2.73 and a beta of 1.12. 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 52-week low of $145.02 and a 52-week high of $198.33. The business has a 50-day moving average price of $168.59 and a 200 day moving average price of $179.90.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.06. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The business’s revenue was down .2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.64 EPS. Equities research analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 0.69%. The ex-dividend date is Friday, June 13th. AMETEK’s dividend payout ratio is presently 20.29%.

AMETEK announced that its Board of Directors has approved a share repurchase plan on Friday, February 7th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

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 that occurred on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total transaction of $250,021.20. Following the transaction, the director now owns 22,029 shares in the company, valued at approximately $4,172,512.89. The trade was a 5.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas A. Amato sold 710 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the completion of the sale, the director now owns 10,560 shares in the company, valued at approximately $1,865,318.40. This represents a 6.30% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by company insiders.

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.