Wealthspire Advisors LLC Makes New Investment in AMETEK, Inc. (NYSE:AME)

Wealthspire Advisors LLC purchased a new stake in shares of AMETEK, Inc. (NYSE:AME) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,858 shares of the technology company’s stock, valued at approximately $335,000.

Several other large investors have also recently bought and sold shares of AME. Allworth Financial LP boosted its position in AMETEK by 131.4% during the third quarter. Allworth Financial LP now owns 1,060 shares of the technology company’s stock valued at $182,000 after purchasing an additional 602 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of AMETEK by 21.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,538 shares of the technology company’s stock valued at $2,329,000 after buying an additional 2,435 shares during the last quarter. Fidelis Capital Partners LLC lifted its position in shares of AMETEK by 6.4% in the third quarter. Fidelis Capital Partners LLC now owns 1,734 shares of the technology company’s stock valued at $289,000 after buying an additional 105 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of AMETEK in the third quarter valued at approximately $167,000. Finally, First Trust Direct Indexing L.P. lifted its position in shares of AMETEK by 28.4% in the third quarter. First Trust Direct Indexing L.P. now owns 8,781 shares of the technology company’s stock valued at $1,508,000 after buying an additional 1,941 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Stock Performance

NYSE:AME opened at $187.27 on Friday. The stock has a 50 day simple moving average of $183.13 and a 200 day simple moving average of $178.87. AMETEK, Inc. has a 1-year low of $149.03 and a 1-year high of $198.33. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. The stock has a market cap of $43.32 billion, a P/E ratio of 31.58, a PEG ratio of 2.73 and a beta of 1.16.

AMETEK (NYSE:AME) last posted 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. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the company earned $1.68 EPS. The company’s revenue was up 1.8% on a year-over-year basis. Research analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK declared that its board has approved a share buyback program 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 programs are often an indication that the company’s board of directors believes its shares are undervalued.

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 paid a dividend of $0.31 per share. 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. This is a positive change from AMETEK’s previous quarterly dividend of $0.28. AMETEK’s dividend payout ratio (DPR) is 18.89%.

Analyst Ratings Changes

A number of research firms have recently issued reports on AME. Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and raised their price objective for the company from $195.00 to $225.00 in a research report on Monday, December 16th. 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 research report on Wednesday, February 5th. Truist Financial raised 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. Mizuho raised their price objective on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AMETEK currently has an average rating of “Moderate Buy” and a consensus target price of $204.67.

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.