Corient Private Wealth LLC Buys 42,014 Shares of AMETEK, Inc. (NYSE:AME)

Corient Private Wealth LLC lifted its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 39.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 149,352 shares of the technology company's stock after purchasing an additional 42,014 shares during the period. Corient Private Wealth LLC owned 0.06% of AMETEK worth $26,523,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Principal Financial Group Inc. raised its position in shares of AMETEK by 72.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company's stock worth $288,526,000 after acquiring an additional 703,501 shares in the last quarter. Empowered Funds LLC raised its position in shares of AMETEK by 24.6% during the third quarter. Empowered Funds LLC now owns 12,348 shares of the technology company's stock worth $2,120,000 after purchasing an additional 2,440 shares during the period. Natixis Advisors LLC grew its position in AMETEK by 1.9% in the 3rd quarter. Natixis Advisors LLC now owns 110,625 shares of the technology company's stock valued at $18,996,000 after purchasing an additional 2,059 shares during the period. Mutual of America Capital Management LLC increased its stake in AMETEK by 5.4% during the 3rd quarter. Mutual of America Capital Management LLC now owns 39,845 shares of the technology company's stock valued at $6,842,000 after purchasing an additional 2,033 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of AMETEK by 0.4% during the third quarter. Swiss National Bank now owns 687,025 shares of the technology company's stock valued at $117,969,000 after buying an additional 2,500 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

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AMETEK Stock Performance

AME traded down $1.43 during midday trading on Friday, reaching $174.50. The company had a trading volume of 1,422,601 shares, compared to its average volume of 1,160,636. AMETEK, Inc. has a 12-month low of $149.03 and a 12-month high of $198.33. The business has a 50-day moving average price of $182.92 and a two-hundred day moving average price of $180.43. The stock has a market cap of $40.26 billion, a PE ratio of 29.43, a P/E/G ratio of 2.73 and a beta of 1.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24.

AMETEK (NYSE:AME - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 EPS 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 for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the business earned $1.68 earnings per share. AMETEK's revenue for the quarter was up 1.8% on a year-over-year basis. On average, sell-side analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK announced that its Board of Directors has initiated 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 buy up to 2.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

AMETEK Increases Dividend

The firm 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. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from AMETEK's previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 0.71%. AMETEK's dividend payout ratio is 20.91%.

Insider Activity at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the business'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 sale, the director now directly owns 22,029 shares in the company, valued at approximately $4,172,512.89. The trade was a 5.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AME. Bank of America raised AMETEK from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $195.00 to $225.00 in a report on Monday, December 16th. BNP Paribas upgraded 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. Truist Financial raised their price objective on AMETEK from $221.00 to $222.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Robert W. Baird reduced their target price 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. Finally, StockNews.com raised shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Sunday, March 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from 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.