Sequoia Financial Advisors LLC Buys 1,828 Shares of AMETEK, Inc. (NYSE:AME)

Sequoia Financial Advisors LLC raised its holdings in shares of AMETEK, Inc. (NYSE:AME) by 45.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,842 shares of the technology company’s stock after acquiring an additional 1,828 shares during the period. Sequoia Financial Advisors LLC’s holdings in AMETEK were worth $963,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AME. CreativeOne Wealth LLC raised its holdings in AMETEK by 3.3% in the fourth quarter. CreativeOne Wealth LLC now owns 2,548 shares of the technology company’s stock worth $356,000 after purchasing an additional 82 shares in the last quarter. SeaCrest Wealth Management LLC increased its holdings in shares of AMETEK by 1.5% during the third quarter. SeaCrest Wealth Management LLC now owns 5,660 shares of the technology company’s stock valued at $836,000 after acquiring an additional 82 shares in the last quarter. Lincoln National Corp raised its position in shares of AMETEK by 6.1% in the 3rd quarter. Lincoln National Corp now owns 1,436 shares of the technology company’s stock worth $212,000 after purchasing an additional 83 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of AMETEK by 4.6% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 1,919 shares of the technology company’s stock worth $284,000 after purchasing an additional 85 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of AMETEK by 2.7% in the 4th quarter. Venturi Wealth Management LLC now owns 3,203 shares of the technology company’s stock worth $528,000 after purchasing an additional 85 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO William Joseph Burke sold 5,973 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $168.90, for a total transaction of $1,008,839.70. Following the completion of the transaction, the chief financial officer now directly owns 101,709 shares in the company, valued at approximately $17,178,650.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Steven W. Kohlhagen sold 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $180.59, for a total transaction of $252,826.00. Following the completion of the transaction, the director now directly owns 28,054 shares in the company, valued at approximately $5,066,271.86. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO William Joseph Burke sold 5,973 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $168.90, for a total value of $1,008,839.70. Following the completion of the transaction, the chief financial officer now owns 101,709 shares of the company’s stock, valued at $17,178,650.10. The disclosure for this sale can be found here. Insiders sold 59,881 shares of company stock valued at $10,689,758 in the last quarter. 0.61% of the stock is currently owned by insiders.

AMETEK Price Performance

NYSE AME opened at $179.71 on Monday. AMETEK, Inc. has a 52 week low of $133.12 and a 52 week high of $186.32. The firm has a market capitalization of $41.55 billion, a P/E ratio of 31.69, a PEG ratio of 2.87 and a beta of 1.22. The company has a quick ratio of 0.59, a current ratio of 0.98 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $178.31 and a 200-day moving average price of $163.51.

AMETEK (NYSE:AME) last released its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.62 by $0.06. AMETEK had a net margin of 19.91% and a return on equity of 17.96%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts anticipate that AMETEK, Inc. will post 6.82 earnings per share for the current year.

AMETEK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. AMETEK’s dividend payout ratio is presently 19.75%.

Wall Street Analyst Weigh In

AME has been the subject of several recent analyst reports. KeyCorp lifted their price target on AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Truist Financial initiated coverage on AMETEK in a research report on Thursday, March 14th. They issued a “buy” rating and a $210.00 price target for the company. Royal Bank of Canada lowered their price target on AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Finally, StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $180.78.

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.