Allworth Financial LP Sells 123 Shares of AMETEK, Inc. (NYSE:AME)

Allworth Financial LP trimmed its holdings in AMETEK, Inc. (NYSE:AME) by 11.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 937 shares of the technology company’s stock after selling 123 shares during the quarter. Allworth Financial LP’s holdings in AMETEK were worth $177,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. lifted its holdings in shares of AMETEK by 62.6% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock worth $34,000 after acquiring an additional 77 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of AMETEK by 3,116.7% in 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 last quarter. AdvisorNet Financial Inc lifted its holdings in shares of AMETEK by 1,176.5% in the 4th quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock worth $39,000 after acquiring an additional 200 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of AMETEK by 42.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock worth $42,000 after acquiring an additional 70 shares during the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in shares of AMETEK in the 3rd quarter worth approximately $44,000. 87.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AME has been the subject of a number of recent analyst reports. KeyCorp upped their price target on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Truist Financial upped their price target on shares of AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a report on Thursday, January 16th. BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target for the company in a report on Thursday, January 16th. Robert W. Baird lowered their price target on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Finally, Mizuho upped their price target on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AMETEK has a consensus rating of “Moderate Buy” and a consensus target price of $204.67.

AMETEK Stock Down 1.4 %

Shares of NYSE AME opened at $186.11 on Friday. 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 $43.05 billion, a PE ratio of 31.38, a price-to-earnings-growth ratio of 2.77 and a beta of 1.16. The firm has a fifty day simple moving average of $182.95 and a two-hundred day simple moving average of $178.06.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.85 by $0.02. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.82 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.68 EPS. Equities analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Increases Dividend

The firm 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 $0.31 dividend. The ex-dividend date is Friday, March 14th. 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 0.67%. AMETEK’s dividend payout ratio is currently 18.89%.

AMETEK announced that its board has authorized a share buyback program on Friday, February 7th that allows the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at AMETEK

In other news, insider Emanuela Speranza sold 6,747 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total value of $1,321,737.30. Following the sale, the insider now directly owns 30,460 shares of the company’s stock, valued at $5,967,114. This represents a 18.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.61% of the company’s stock.

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.