RFG Bristol Wealth Advisors LLC Invests $1.55 Million in AMETEK, Inc. (NYSE:AME)

RFG Bristol Wealth Advisors LLC bought a new position in shares of AMETEK, Inc. (NYSE:AME - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,600 shares of the technology company's stock, valued at approximately $1,550,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Oddo BHF Asset Management Sas purchased a new position in AMETEK during the third quarter valued at $3,724,000. Everence Capital Management Inc. acquired a new position in shares of AMETEK during the 4th quarter worth about $999,000. Czech National Bank lifted its stake in AMETEK by 6.3% in the 4th quarter. Czech National Bank now owns 50,153 shares of the technology company's stock valued at $9,041,000 after buying an additional 2,987 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in AMETEK by 434.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company's stock worth $97,614,000 after buying an additional 440,197 shares during the last quarter. Finally, Dudley & Shanley Inc. increased its stake in AMETEK by 11.3% during the 3rd quarter. Dudley & Shanley Inc. now owns 139,434 shares of the technology company's stock worth $23,942,000 after buying an additional 14,105 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

Insider Activity at AMETEK

In other news, Director Thomas A. Amato sold 710 shares of AMETEK stock in a transaction 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 sale, the director now directly owns 10,560 shares of the company's stock, valued at approximately $1,865,318.40. The trade was a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,320 shares of the 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 transaction, 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 disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.

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AMETEK Trading Down 5.6 %

Shares of AME stock traded down $9.04 during trading on Friday, hitting $152.45. 2,753,011 shares of the stock traded hands, compared to its average volume of 1,248,498. The firm has a market capitalization of $35.18 billion, a P/E ratio of 25.71, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week high of $198.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75. The firm's fifty day moving average price is $180.56 and its 200-day moving average price is $180.87.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.85 by $0.02. The business had revenue of $1.76 billion for 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%. The company's quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.68 EPS. As a group, research analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

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

AMETEK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.31 per share. The ex-dividend date was Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.81%. This is a boost from AMETEK's previous quarterly dividend of $0.28. AMETEK's dividend payout ratio (DPR) is presently 20.91%.

Wall Street Analyst Weigh In

AME has been the topic of a number of research analyst reports. Truist Financial lifted their price target on AMETEK from $221.00 to $222.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Robert W. Baird lowered their target price on shares of AMETEK from $200.00 to $197.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. BNP Paribas upgraded shares of AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 target price for the company in a research report on Thursday, January 16th. StockNews.com upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Thursday. Finally, Bank of America raised shares of AMETEK from a "neutral" rating to a "buy" rating and upped their price objective for the company from $195.00 to $225.00 in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AMETEK currently has a consensus 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.