Sagespring Wealth Partners LLC Purchases New Stake in AMETEK, Inc. (NYSE:AME)

Sagespring Wealth Partners LLC acquired a new position in shares of AMETEK, Inc. (NYSE:AME) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,087 shares of the technology company’s stock, valued at approximately $376,000.

Other hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its position in shares of AMETEK by 4.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company’s stock worth $261,000 after acquiring an additional 63 shares in the last quarter. Kensington Investment Counsel LLC boosted its holdings in shares of AMETEK by 0.5% in the 4th quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company’s stock valued at $2,574,000 after purchasing an additional 66 shares in the last quarter. AlphaMark Advisors LLC increased its stake in shares of AMETEK by 2.1% in the 4th quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company’s stock valued at $604,000 after purchasing an additional 70 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of AMETEK by 42.9% during 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. Finally, Quotient Wealth Partners LLC lifted its position in shares of AMETEK by 3.9% during the 4th quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company’s stock worth $332,000 after buying an additional 70 shares during the last quarter. 87.43% of the stock is owned by institutional investors.

AMETEK Trading Down 0.7 %

NYSE AME opened at $160.23 on Wednesday. AMETEK, Inc. has a 12 month low of $145.02 and a 12 month high of $198.33. 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 market capitalization of $36.97 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. The business’s 50-day moving average price is $175.91 and its two-hundred day moving average price is $179.94.

AMETEK (NYSE:AME) last released its earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 19.83% and a return on equity of 16.94%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.68 EPS. On average, analysts expect that AMETEK, Inc. will post 7.15 EPS for the current year.

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 given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a yield of 0.77%. This is a boost from AMETEK’s previous quarterly dividend of $0.28. AMETEK’s dividend payout ratio is 20.91%.

AMETEK declared that its board has initiated a share buyback program on Friday, February 7th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

AME has been the topic of a number of recent analyst reports. Truist Financial decreased their target price on AMETEK from $216.00 to $196.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price on the stock in a research report on Thursday, January 16th. Robert W. Baird lowered their price target on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Finally, Morgan Stanley started coverage on AMETEK in a research note on Monday. They issued an “equal weight” rating and a $170.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.60.

Insiders Place Their Bets

In other AMETEK news, Director Thomas A. Amato sold 710 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total transaction of $125,414.40. Following the transaction, the director now directly owns 10,560 shares in the company, valued at approximately $1,865,318.40. This represents a 6.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven W. Kohlhagen sold 1,320 shares of AMETEK stock in a transaction on Monday, March 3rd. The shares were 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 of the company’s stock, valued at $4,172,512.89. This represents a 5.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.57% 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.