Beacon Pointe Advisors LLC Decreases Stake in AMETEK, Inc. (NYSE:AME)

Beacon Pointe Advisors LLC decreased its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 48.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,044 shares of the technology company's stock after selling 1,912 shares during the quarter. Beacon Pointe Advisors LLC's holdings in AMETEK were worth $368,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc increased its stake in AMETEK by 3,116.7% in the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company's stock valued at $35,000 after purchasing an additional 187 shares in the last quarter. AdvisorNet Financial Inc increased its position in shares of AMETEK by 1,176.5% in the fourth quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company's stock valued at $39,000 after buying an additional 200 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of AMETEK by 42.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company's stock worth $42,000 after buying an additional 70 shares in the last quarter. OFI Invest Asset Management acquired a new stake in AMETEK in the 4th quarter valued at about $43,000. Finally, Quent Capital LLC increased its holdings in AMETEK by 60.9% during the 4th quarter. Quent Capital LLC now owns 251 shares of the technology company's stock valued at $45,000 after acquiring an additional 95 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company's stock.

AMETEK Price Performance

AME opened at $170.15 on Monday. AMETEK, Inc. has a 1 year low of $145.02 and a 1 year high of $198.33. The company's 50 day simple moving average is $170.16 and its 200 day simple moving average is $179.49. The stock has a market capitalization of $39.26 billion, a PE ratio of 28.69, a P/E/G ratio of 2.73 and a beta of 1.12. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share for the quarter, beating analysts' consensus estimates of $1.69 by $0.06. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. AMETEK's revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the business earned $1.64 EPS. As a group, sell-side analysts expect that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK announced that its Board of Directors has authorized a stock buyback program on Friday, February 7th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the technology company to buy up to 2.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

AMETEK Increases Dividend

The company also recently declared 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 of this dividend was Friday, March 14th. This is a positive change from AMETEK's previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 0.73%. AMETEK's dividend payout ratio is currently 20.29%.

Insider Transactions at AMETEK

In related news, 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 value of $125,414.40. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 stock was sold at an average price of $189.41, for a total transaction of $250,021.20. Following the sale, the director now owns 22,029 shares of the company's stock, valued at approximately $4,172,512.89. This represents a 5.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

AME has been the subject of a number of recent research reports. BNP Paribas raised shares of AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price objective for the company in a research note on Thursday, January 16th. StockNews.com cut AMETEK from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Robert W. Baird decreased their price objective on AMETEK from $200.00 to $197.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. Royal Bank of Canada boosted their target price on shares of AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a research note on Friday. Finally, Truist Financial decreased their price target on shares of AMETEK from $216.00 to $196.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $197.20.

AMETEK Company 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.

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