Congress Wealth Management LLC DE Has $2.24 Million Position in AMETEK, Inc. (NYSE:AME)

Congress Wealth Management LLC DE trimmed its holdings in AMETEK, Inc. (NYSE:AME) by 44.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,401 shares of the technology company’s stock after selling 9,733 shares during the period. Congress Wealth Management LLC DE’s holdings in AMETEK were worth $2,235,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AME. EdgePoint Investment Group Inc. boosted its holdings in AMETEK by 87.9% in the third quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock worth $337,279,000 after purchasing an additional 918,737 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of AMETEK by 240.3% during the 4th quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company’s stock worth $202,805,000 after acquiring an additional 794,473 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of AMETEK by 72.0% during 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 acquiring an additional 703,501 shares during the last quarter. Bryn Mawr Capital Management LLC raised its stake in shares of AMETEK by 10,506.5% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 476,442 shares of the technology company’s stock valued at $812,000 after acquiring an additional 471,950 shares in the last quarter. Finally, D1 Capital Partners L.P. acquired a new stake in AMETEK in the 3rd quarter worth approximately $79,782,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AME shares. Truist Financial lifted their price target on shares of AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price on the stock in a report on Thursday, January 16th. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a report on Wednesday. Bank of America upgraded AMETEK from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $195.00 to $225.00 in a research note on Monday, December 16th. Finally, Robert W. Baird decreased their target price on AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AMETEK currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.67.

Insider Buying and Selling

In other news, Director Steven W. Kohlhagen sold 1,320 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the completion of the transaction, the director now directly owns 22,029 shares of the company’s stock, valued at approximately $4,172,512.89. This represents a 5.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.61% of the company’s stock.

AMETEK Trading Down 1.6 %

AMETEK stock opened at $176.90 on Thursday. The business has a 50 day moving average price of $182.92 and a two-hundred day moving average price of $180.80. 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 12 month low of $149.03 and a 12 month high of $198.33. The stock has a market cap of $40.82 billion, a price-to-earnings ratio of 29.83, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME) last issued its earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, beating 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 business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the company posted $1.68 earnings per share. AMETEK’s revenue was up 1.8% on a year-over-year basis. As a group, equities analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a yield of 0.70%. This is a boost from AMETEK’s previous quarterly dividend of $0.28. AMETEK’s payout ratio is presently 20.91%.

AMETEK declared that its board has initiated a stock repurchase program on Friday, February 7th that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the technology company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

AMETEK Company 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.