RWA Wealth Partners LLC Takes Position in AMETEK, Inc. (NYSE:AME)

RWA Wealth Partners LLC bought a new stake in shares of AMETEK, Inc. (NYSE:AME) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,152 shares of the technology company’s stock, valued at approximately $685,000.

A number of other hedge funds have also recently modified their holdings of the business. Morgan Stanley boosted its holdings in shares of AMETEK by 19.2% during the 3rd quarter. Morgan Stanley now owns 4,189,108 shares of the technology company’s stock valued at $618,983,000 after buying an additional 674,549 shares in the last quarter. Flossbach Von Storch AG boosted its holdings in shares of AMETEK by 10.8% during the 4th quarter. Flossbach Von Storch AG now owns 2,586,030 shares of the technology company’s stock valued at $426,410,000 after buying an additional 252,455 shares in the last quarter. Northern Trust Corp raised its position in shares of AMETEK by 4.3% in the 3rd quarter. Northern Trust Corp now owns 2,362,467 shares of the technology company’s stock worth $349,078,000 after purchasing an additional 96,793 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of AMETEK by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,193,916 shares of the technology company’s stock worth $176,413,000 after purchasing an additional 10,893 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of AMETEK by 84.9% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,081,557 shares of the technology company’s stock worth $159,811,000 after purchasing an additional 496,523 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Stock Down 0.9 %

Shares of AME opened at $178.25 on Thursday. The business’s 50 day simple moving average is $179.97 and its 200-day simple moving average is $165.07. AMETEK, Inc. has a 1 year low of $133.12 and a 1 year high of $186.32. The stock has a market capitalization of $41.21 billion, a price-to-earnings ratio of 31.44, a price-to-earnings-growth ratio of 2.84 and a beta of 1.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.98 and a quick ratio of 0.59.

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

AMETEK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 8th were paid a $0.28 dividend. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, March 7th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. AMETEK’s dividend payout ratio (DPR) is presently 19.75%.

Insiders Place Their Bets

In other AMETEK news, Director Thomas A. Amato sold 780 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total value of $141,960.00. Following the sale, the director now owns 10,240 shares in the company, valued at $1,863,680. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Thomas M. Montgomery sold 6,891 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the sale, the vice president now owns 21,543 shares of the company’s stock, valued at $3,993,641.34. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas A. Amato sold 780 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total value of $141,960.00. Following the sale, the director now directly owns 10,240 shares in the company, valued at approximately $1,863,680. The disclosure for this sale can be found here. Insiders have sold a total of 59,881 shares of company stock worth $10,689,758 over the last quarter. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

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

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.