OneDigital Investment Advisors LLC Grows Holdings in AMETEK, Inc. (NYSE:AME)

OneDigital Investment Advisors LLC lifted its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 33.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 26,287 shares of the technology company's stock after buying an additional 6,583 shares during the period. OneDigital Investment Advisors LLC's holdings in AMETEK were worth $4,738,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted 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 worth $288,526,000 after acquiring an additional 703,501 shares during the period. Anchor Investment Management LLC raised its stake in AMETEK by 366.1% during the third quarter. Anchor Investment Management LLC now owns 261 shares of the technology company's stock worth $45,000 after purchasing an additional 205 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of AMETEK in the 3rd quarter valued at $2,336,000. Tidal Investments LLC grew its stake in shares of AMETEK by 27.0% during the 3rd quarter. Tidal Investments LLC now owns 11,938 shares of the technology company's stock valued at $2,050,000 after buying an additional 2,540 shares during the period. Finally, Peapack Gladstone Financial Corp raised its position in shares of AMETEK by 3.0% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 33,034 shares of the technology company's stock worth $5,672,000 after buying an additional 958 shares during the period. Institutional investors and hedge funds own 87.43% of the company's stock.

AMETEK Price Performance

Shares of NYSE AME opened at $159.40 on Wednesday. The business has a 50 day moving average price of $173.17 and a two-hundred day moving average price of $179.53. AMETEK, Inc. has a fifty-two week low of $145.02 and a fifty-two week high of $198.33. The firm has a market cap of $36.78 billion, a PE ratio of 26.88, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. 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 (NYSE:AME - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.85 by $0.02. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the firm earned $1.68 earnings per share. The business's revenue was up 1.8% compared to the same quarter last year. Sell-side analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK announced that its board has authorized a stock repurchase program on Friday, February 7th that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the technology company to buy up to 2.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.31 per share. This is a boost from AMETEK's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.24 annualized dividend and a dividend yield of 0.78%. AMETEK's dividend payout ratio (DPR) is presently 20.91%.

Insider Buying and Selling

In other news, Director Thomas A. Amato sold 710 shares of AMETEK stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the completion of the transaction, the director now owns 10,560 shares in the company, valued at approximately $1,865,318.40. This trade represents a 6.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven W. Kohlhagen sold 1,320 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were 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 of the company's stock, valued at $4,172,512.89. This trade represents a 5.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.57% of the company's stock.

Analyst Ratings Changes

AME has been the subject of a number of research reports. Robert W. Baird lowered their price target on AMETEK from $200.00 to $197.00 and set a "neutral" rating for the company in a research report on Wednesday, February 5th. 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 on the stock in a research report on Thursday, January 16th. Truist Financial dropped their price objective on shares of AMETEK from $216.00 to $196.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Morgan Stanley started coverage on shares of AMETEK in a research report on Monday, April 14th. They set an "equal weight" rating and a $170.00 price target for the company. One equities research 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 company's stock. According to data from MarketBeat, AMETEK presently has an average rating of "Moderate Buy" and a consensus target price of $198.60.

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.

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