Alteri Wealth LLC Takes $114.77 Million Position in AMETEK, Inc. (NYSE:AME)

Alteri Wealth LLC purchased a new stake in AMETEK, Inc. (NYSE:AME - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 636,686 shares of the technology company's stock, valued at approximately $114,769,000. AMETEK comprises 31.8% of Alteri Wealth LLC's holdings, making the stock its largest holding. Alteri Wealth LLC owned 0.28% of AMETEK at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AME. MassMutual Private Wealth & Trust FSB grew its holdings in shares of AMETEK by 4.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company's stock worth $261,000 after purchasing an additional 63 shares during the last quarter. Kensington Investment Counsel LLC raised its position in shares of AMETEK by 0.5% during the fourth quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company's stock worth $2,574,000 after acquiring an additional 66 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in 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 during the period. AlphaMark Advisors LLC lifted its stake in shares of AMETEK by 2.1% in the 4th quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company's stock valued at $604,000 after purchasing an additional 70 shares during the period. Finally, Quotient Wealth Partners LLC increased its holdings in shares of AMETEK by 3.9% in the fourth quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company's stock worth $332,000 after acquiring an additional 70 shares in the last quarter. Institutional investors own 87.43% of the company's stock.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,320 shares of AMETEK 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 transaction, the director now directly owns 22,029 shares of the company's stock, valued at $4,172,512.89. The trade was a 5.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas A. Amato sold 710 shares of AMETEK stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total value of $125,414.40. Following the sale, the director now directly owns 10,560 shares in the company, valued at $1,865,318.40. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

AMETEK Price Performance

Shares of AME stock traded down $2.28 during trading hours on Tuesday, hitting $167.99. 777,605 shares of the company's stock were exchanged, compared to its average volume of 1,288,917. AMETEK, Inc. has a 12-month low of $145.02 and a 12-month 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. The business's 50 day simple moving average is $169.80 and its 200-day simple moving average is $179.49. The company has a market capitalization of $38.76 billion, a PE ratio of 28.33, a PEG ratio of 2.73 and a beta of 1.12.

AMETEK (NYSE:AME - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.69 by $0.06. The firm had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.74 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The company's quarterly revenue was down .2% compared to the same quarter last year. During the same period last year, the company posted $1.64 EPS. On average, equities research analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK declared that its board has approved a stock repurchase program on Friday, February 7th that permits the company to buyback $1.25 billion in outstanding shares. This buyback authorization permits the technology company to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is 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 dividend of $0.31 per share. The ex-dividend date was Friday, March 14th. This is a positive change from AMETEK's previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a yield of 0.74%. AMETEK's payout ratio is currently 20.29%.

Analyst Upgrades and Downgrades

AME has been the topic of several recent research reports. Morgan Stanley assumed coverage on shares of AMETEK in a research note on Monday, April 14th. They issued an "equal weight" rating and a $170.00 price target on the stock. Royal Bank of Canada boosted their price objective on AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a report on Friday. Robert W. Baird decreased their price target 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 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 price target on shares of AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a report on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AMETEK has a consensus rating of "Moderate Buy" and an average target price of $197.60.

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.