Fullcircle Wealth LLC Buys New Shares in AMETEK, Inc. (NYSE:AME)

Fullcircle Wealth LLC purchased a new position in AMETEK, Inc. (NYSE:AME) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,117 shares of the technology company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AME. Norges Bank acquired a new position in AMETEK in the 4th quarter valued at approximately $697,080,000. Capital World Investors lifted its position in AMETEK by 70.0% in the fourth quarter. Capital World Investors now owns 5,760,017 shares of the technology company’s stock worth $1,038,301,000 after purchasing an additional 2,371,062 shares during the period. American Century Companies Inc. boosted its stake in AMETEK by 240.3% during the fourth quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company’s stock worth $202,805,000 after buying an additional 794,473 shares in the last quarter. Principal Financial Group Inc. increased its holdings in AMETEK by 72.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after buying an additional 703,501 shares during the period. Finally, Alteri Wealth LLC acquired a new position in shares of AMETEK in the 4th quarter valued at $114,769,000. Institutional investors own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AME shares. Morgan Stanley initiated coverage on shares of AMETEK in a research note on Monday, April 14th. They issued an “equal weight” rating and a $170.00 target price on the stock. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a report on Friday, April 11th. Royal Bank of Canada boosted their price target on AMETEK from $194.00 to $201.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Truist Financial increased their price objective on AMETEK from $196.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday. Finally, BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target on the stock in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $196.90.

Insider Activity

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

AMETEK Stock Up 1.1 %

NYSE:AME opened at $171.57 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24. AMETEK, Inc. has a 52-week low of $145.02 and a 52-week high of $198.33. The company has a market cap of $39.61 billion, a price-to-earnings ratio of 28.93, a P/E/G ratio of 2.73 and a beta of 1.12. The stock’s fifty day moving average price is $168.74 and its two-hundred day moving average price is $179.36.

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

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 0.72%. AMETEK’s payout ratio is currently 20.29%.

AMETEK declared that its board has authorized a stock buyback plan 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 plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.