Axxcess Wealth Management LLC Purchases 271 Shares of AMETEK, Inc. (NYSE:AME)

Axxcess Wealth Management LLC boosted its position in AMETEK, Inc. (NYSE:AME) by 18.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,715 shares of the technology company’s stock after acquiring an additional 271 shares during the quarter. Axxcess Wealth Management LLC’s holdings in AMETEK were worth $309,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in AME. EdgePoint Investment Group Inc. increased its stake in AMETEK by 87.9% in the third quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock valued at $337,279,000 after acquiring an additional 918,737 shares during the last quarter. Principal Financial Group Inc. increased its stake in AMETEK by 72.0% in the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after acquiring an additional 703,501 shares during the last quarter. Bryn Mawr Capital Management LLC increased its stake in AMETEK by 10,506.5% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 476,442 shares of the technology company’s stock valued at $812,000 after acquiring an additional 471,950 shares during the last quarter. D1 Capital Partners L.P. bought a new position in AMETEK in the third quarter valued at $79,782,000. Finally, Assenagon Asset Management S.A. increased its stake in AMETEK by 434.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company’s stock valued at $97,614,000 after acquiring an additional 440,197 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of the firm’s stock in a transaction dated 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 directly owns 22,029 shares in the company, valued at $4,172,512.89. This trade represents a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.61% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AME has been the topic of a number of recent research reports. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a research note on Sunday, March 9th. BNP Paribas raised 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. Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and raised their price objective for the company from $195.00 to $225.00 in a research note on Monday, December 16th. Truist Financial raised their price objective on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Robert W. Baird reduced 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $204.67.

AMETEK Stock Performance

AMETEK stock opened at $174.50 on Friday. 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 firm has a 50-day moving average of $182.92 and a 200-day moving average of $180.53. The firm has a market cap of $40.26 billion, a P/E ratio of 29.43, a P/E/G ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a 1-year low of $149.03 and a 1-year high of $198.33.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping the consensus estimate 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 period last year, the business posted $1.68 earnings per share. AMETEK’s quarterly revenue was up 1.8% compared to the same quarter last year. Sell-side analysts expect that AMETEK, Inc. will post 7.15 EPS for the current year.

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

AMETEK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.31 dividend. The ex-dividend date of this dividend is 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 0.71%. AMETEK’s dividend payout ratio (DPR) is 20.91%.

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.