Envestnet Asset Management Inc. Lowers Position in AMETEK, Inc. (NYSE:AME)

Envestnet Asset Management Inc. trimmed its position in AMETEK, Inc. (NYSE:AME) by 14.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 272,815 shares of the technology company’s stock after selling 46,061 shares during the period. Envestnet Asset Management Inc. owned 0.12% of AMETEK worth $49,178,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AME. MassMutual Private Wealth & Trust FSB grew its position in shares of AMETEK by 4.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company’s stock worth $261,000 after buying an additional 63 shares during the period. Kensington Investment Counsel LLC grew its holdings in AMETEK by 0.5% in the fourth quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company’s stock worth $2,574,000 after purchasing an additional 66 shares during the period. AlphaMark Advisors LLC increased its stake in shares of AMETEK by 2.1% during the fourth quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company’s stock valued at $604,000 after purchasing an additional 70 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of AMETEK by 42.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock valued at $42,000 after purchasing an additional 70 shares during the last quarter. Finally, Quotient Wealth Partners LLC boosted its position in shares of AMETEK by 3.9% in the 4th quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company’s stock worth $332,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

Insider Buying and Selling at AMETEK

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

AMETEK Trading Down 2.2 %

Shares of NYSE:AME opened at $157.39 on Friday. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week 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 company has a market cap of $36.32 billion, a PE ratio of 26.54, a P/E/G ratio of 2.73 and a beta of 1.14. The company’s 50 day moving average is $177.16 and its two-hundred day moving average is $180.18.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $1.82 billion. During the same period in the prior year, the company earned $1.68 earnings per share. The company’s revenue was up 1.8% compared to the same quarter last year. Equities analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK announced that its board has authorized a share 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 buy up to 2.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

AMETEK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.31 dividend. This is a boost from AMETEK’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Friday, March 14th. AMETEK’s dividend payout ratio (DPR) is currently 20.91%.

Analysts Set New Price Targets

Several equities research analysts have commented on AME shares. Truist Financial dropped their target price on AMETEK from $216.00 to $196.00 and set a “buy” rating on the stock in a report on Tuesday. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Friday. Bank of America upgraded shares of 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 note on Monday, December 16th. 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 report on Thursday, January 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 report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $201.78.

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.