Corient Private Wealth LLC Has $26.52 Million Position in AMETEK, Inc. (NYSE:AME)

Corient Private Wealth LLC increased its position in shares of AMETEK, Inc. (NYSE:AME) by 39.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 149,352 shares of the technology company’s stock after buying an additional 42,014 shares during the quarter. Corient Private Wealth LLC owned 0.06% of AMETEK worth $26,523,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. grew its position in AMETEK by 62.6% during the third quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock worth $34,000 after buying an additional 77 shares in the last quarter. Versant Capital Management Inc grew its position in AMETEK by 3,116.7% during the fourth quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock worth $35,000 after buying an additional 187 shares in the last quarter. AdvisorNet Financial Inc grew its position in AMETEK by 1,176.5% during the fourth quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock worth $39,000 after buying an additional 200 shares in the last quarter. Geneos Wealth Management Inc. grew its position in AMETEK by 42.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock worth $42,000 after buying an additional 70 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in AMETEK during the fourth quarter worth about $43,000. 87.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. BNP Paribas raised AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price on the stock in a research report on Thursday, January 16th. KeyCorp raised their price target on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Robert W. Baird cut their price target on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Bank of America upgraded shares of AMETEK from a “neutral” rating to a “buy” rating and raised their price target for the stock from $195.00 to $225.00 in a research note on Monday, December 16th. Finally, StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Sunday, March 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AMETEK presently has an average rating of “Moderate Buy” and a consensus price target of $204.67.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total transaction of $250,021.20. Following the transaction, the director now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.61% of the company’s stock.

AMETEK Stock Down 1.5 %

Shares of AME opened at $175.90 on Wednesday. The company has a market capitalization of $40.57 billion, a P/E ratio of 29.66, a PEG ratio of 2.73 and a beta of 1.14. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75. AMETEK, Inc. has a one year low of $149.03 and a one year high of $198.33. The business’s 50 day simple moving average is $183.02 and its 200-day simple moving average is $180.46.

AMETEK (NYSE:AME) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the business earned $1.68 EPS. AMETEK’s revenue was up 1.8% compared to the same quarter last year. As a group, sell-side analysts predict that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.31 per share. This is an increase from AMETEK’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, March 14th. This represents a $1.24 annualized dividend and a yield of 0.70%. AMETEK’s dividend payout ratio is currently 20.91%.

AMETEK declared that its board has initiated a stock repurchase program on Friday, February 7th that permits the company to buyback $1.25 billion in outstanding shares. This buyback authorization permits the technology company to buy up to 2.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are 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.