Sequoia Financial Advisors LLC Acquires 591 Shares of AMETEK, Inc. (NYSE:AME)

Sequoia Financial Advisors LLC raised its holdings in AMETEK, Inc. (NYSE:AME) by 11.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,670 shares of the technology company’s stock after purchasing an additional 591 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in AMETEK were worth $1,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. State Street Corp grew its stake in AMETEK by 0.3% in the 3rd quarter. State Street Corp now owns 9,220,376 shares of the technology company’s stock valued at $1,583,231,000 after purchasing an additional 24,072 shares during the period. JPMorgan Chase & Co. grew its stake in AMETEK by 3.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company’s stock valued at $1,199,454,000 after purchasing an additional 250,538 shares during the period. Geode Capital Management LLC grew its stake in AMETEK by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company’s stock valued at $924,308,000 after purchasing an additional 45,459 shares during the period. Bank of New York Mellon Corp grew its stake in AMETEK by 2.3% in the 4th quarter. Bank of New York Mellon Corp now owns 4,415,508 shares of the technology company’s stock valued at $795,939,000 after purchasing an additional 99,505 shares during the period. Finally, Flossbach Von Storch SE grew its stake in AMETEK by 2.5% in the 4th quarter. Flossbach Von Storch SE now owns 3,724,352 shares of the technology company’s stock valued at $671,352,000 after purchasing an additional 91,287 shares during the period. Institutional investors own 87.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AME. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a research report on Sunday, March 9th. KeyCorp upped their price target on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and upped their price target for the company from $195.00 to $225.00 in a research report on Monday, December 16th. BNP Paribas raised AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target on the stock in a research report on Thursday, January 16th. Finally, Truist Financial upped their price target on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $204.67.

AMETEK Stock Up 2.0 %

Shares of NYSE AME opened at $176.35 on Monday. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $198.33. The business has a 50-day simple moving average of $183.09 and a two-hundred day simple moving average of $180.36. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15. The company has a market cap of $40.68 billion, a P/E ratio of 29.74, a P/E/G ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME) last issued its earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.85 by $0.02. The business had revenue of $1.76 billion during 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 firm’s revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.68 EPS. Research analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from AMETEK’s previous quarterly dividend of $0.28. AMETEK’s dividend payout ratio (DPR) is 20.91%.

AMETEK declared that its Board of Directors has authorized a share buyback plan on Friday, February 7th that permits the company to buyback $1.25 billion in outstanding shares. This buyback authorization permits the technology company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity

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 completion of the sale, the director now owns 22,029 shares in the company, valued at approximately $4,172,512.89. This trade represents a 5.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.61% of the company’s stock.

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.