Lake Street Advisors Group LLC Has $329,000 Stock Holdings in AMETEK, Inc. (NYSE:AME)

Lake Street Advisors Group LLC grew its stake in shares of AMETEK, Inc. (NYSE:AME) by 8.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,826 shares of the technology company’s stock after purchasing an additional 138 shares during the period. Lake Street Advisors Group LLC’s holdings in AMETEK were worth $329,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in AME. EdgePoint Investment Group Inc. raised its stake in AMETEK by 87.9% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock worth $337,279,000 after buying an additional 918,737 shares during the period. Principal Financial Group Inc. increased its holdings in shares of AMETEK by 72.0% during the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after acquiring an additional 703,501 shares in the last quarter. Bryn Mawr Capital Management LLC raised its position in shares of AMETEK by 10,506.5% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 476,442 shares of the technology company’s stock worth $812,000 after purchasing an additional 471,950 shares during the period. D1 Capital Partners L.P. bought a new position in shares of AMETEK in the 3rd quarter worth $79,782,000. Finally, Assenagon Asset Management S.A. grew its position in AMETEK by 434.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company’s stock valued at $97,614,000 after purchasing an additional 440,197 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. The business’s fifty day simple moving average is $183.13 and its 200 day simple moving average is $178.87. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a 12 month low of $149.03 and a 12 month high of $198.33. The firm has a market capitalization of $43.32 billion, a P/E ratio of 31.58, a price-to-earnings-growth ratio of 2.73 and a beta of 1.16.

AMETEK (NYSE:AME) last released its earnings results 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 company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.82 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.68 EPS. As a group, analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Increases Dividend

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

AMETEK declared that its Board of Directors has approved a share repurchase plan on Friday, February 7th that permits the company to buyback $1.25 billion in outstanding shares. This buyback authorization permits the technology company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

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