1,858 Shares in AMETEK, Inc. (NYSE:AME) Purchased by Wealthspire Advisors LLC

Wealthspire Advisors LLC bought a new stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 1,858 shares of the technology company's stock, valued at approximately $335,000.

Several other institutional investors and hedge funds have also bought and sold shares of AME. Allworth Financial LP grew its stake in AMETEK by 131.4% in the third quarter. Allworth Financial LP now owns 1,060 shares of the technology company's stock valued at $182,000 after acquiring an additional 602 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in AMETEK by 21.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,538 shares of the technology company's stock valued at $2,329,000 after purchasing an additional 2,435 shares during the period. Fidelis Capital Partners LLC increased its stake in AMETEK by 6.4% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,734 shares of the technology company's stock valued at $289,000 after purchasing an additional 105 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in AMETEK during the third quarter worth $167,000. Finally, First Trust Direct Indexing L.P. lifted its stake in shares of AMETEK by 28.4% in the third quarter. First Trust Direct Indexing L.P. now owns 8,781 shares of the technology company's stock valued at $1,508,000 after buying an additional 1,941 shares in the last quarter. 87.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AME has been the topic of a number of analyst reports. Bank of America upgraded shares of AMETEK from a "neutral" rating to a "buy" rating and upped their target price for the stock from $195.00 to $225.00 in a report on Monday, December 16th. StockNews.com lowered AMETEK from a "buy" rating to a "hold" rating in a report on Saturday. KeyCorp upped their price target on AMETEK from $205.00 to $215.00 and gave the stock an "overweight" rating in a report on Friday, November 22nd. BNP Paribas upgraded AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price objective on the stock in a research note on Thursday, January 16th. Finally, Truist Financial upped their target price on shares of AMETEK from $221.00 to $222.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $204.67.

AMETEK Stock Performance

Shares of NYSE AME traded down $2.99 during midday trading on Monday, hitting $186.31. The company's stock had a trading volume of 824,996 shares, compared to its average volume of 1,307,953. The stock has a fifty day moving average price of $183.25 and a 200 day moving average price of $179.31. The firm has a market capitalization of $42.97 billion, a price-to-earnings ratio of 31.42, a P/E/G ratio of 2.73 and a beta of 1.16. AMETEK, Inc. has a one year low of $149.03 and a one year high of $198.33. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15.

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

AMETEK Increases Dividend

The business also recently announced 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 represents a $1.24 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Friday, March 14th. This is a positive change from AMETEK's previous quarterly dividend of $0.28. AMETEK's payout ratio is presently 20.91%.

AMETEK declared that its board has approved a share repurchase plan on Friday, February 7th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the technology company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

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.