Envestnet Asset Management Inc. Sells 46,061 Shares of AMETEK, Inc. (NYSE:AME)

Envestnet Asset Management Inc. decreased its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 14.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 272,815 shares of the technology company's stock after selling 46,061 shares during the quarter. Envestnet Asset Management Inc. owned about 0.12% of AMETEK worth $49,178,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc lifted its holdings in AMETEK by 3,116.7% in the fourth quarter. Versant Capital Management Inc now owns 193 shares of the technology company's stock valued at $35,000 after buying an additional 187 shares during the period. AdvisorNet Financial Inc lifted its stake 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 valued at $39,000 after purchasing an additional 200 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of AMETEK by 42.9% during the 4th 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 in the last quarter. OFI Invest Asset Management acquired a new stake in AMETEK during the fourth quarter worth approximately $43,000. Finally, Quent Capital LLC increased its holdings in AMETEK by 60.9% in the fourth quarter. Quent Capital LLC now owns 251 shares of the technology company's stock worth $45,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company's stock.

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Insider Buying and Selling at AMETEK

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AME shares. StockNews.com downgraded shares of AMETEK from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. BNP Paribas raised shares of AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price target for the company in a research note on Thursday, January 16th. Robert W. Baird cut their price objective on shares of AMETEK from $200.00 to $197.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. Morgan Stanley began coverage on AMETEK in a research report on Monday. They issued an "equal weight" rating and a $170.00 target price for the company. Finally, Truist Financial lowered their target price on AMETEK from $216.00 to $196.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, four 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, the stock has an average rating of "Moderate Buy" and an average price target of $198.60.

AMETEK Stock Up 0.2 %

AME stock traded up $0.35 during trading on Wednesday, reaching $160.56. The stock had a trading volume of 129,999 shares, compared to its average volume of 1,414,819. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $37.05 billion, a price-to-earnings ratio of 27.08, a P/E/G ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a one year low of $145.02 and a one year high of $198.33. The company's 50 day moving average is $175.91 and its two-hundred day moving average is $179.94.

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

AMETEK declared that its Board of Directors has authorized a share repurchase 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 purchase up to 2.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

AMETEK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 0.77%. This is a boost from AMETEK's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, March 14th. AMETEK's payout ratio is presently 20.91%.

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.