170,149 Shares in AMETEK, Inc. (NYSE:AME) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new position in AMETEK, Inc. (NYSE:AME) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 170,149 shares of the technology company’s stock, valued at approximately $30,671,000. Proficio Capital Partners LLC owned about 0.07% of AMETEK as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings in AMETEK by 3,116.7% in the fourth quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock worth $35,000 after buying an additional 187 shares during the last quarter. Itau Unibanco Holding S.A. grew its holdings in AMETEK by 62.6% during the third quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock valued at $34,000 after purchasing an additional 77 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in AMETEK by 1,176.5% during the fourth quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock valued at $39,000 after purchasing an additional 200 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in AMETEK by 42.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock valued at $42,000 after purchasing an additional 70 shares during the last quarter. Finally, Quent Capital LLC grew its holdings in AMETEK by 60.9% during the fourth quarter. Quent Capital LLC now owns 251 shares of the technology company’s stock valued at $45,000 after purchasing an additional 95 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. KeyCorp increased their price target on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Robert W. Baird lowered their price target on AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Truist Financial increased their price target on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a report on Thursday, January 16th. BNP Paribas upgraded AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target on the stock in a report on Thursday, January 16th. Finally, Mizuho increased their price objective on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.67.

AMETEK Stock Up 1.0 %

AME opened at $189.18 on Friday. The stock has a market capitalization of $43.64 billion, a price-to-earnings ratio of 31.90, a P/E/G ratio of 2.73 and a beta of 1.16. AMETEK, Inc. has a 1-year low of $149.03 and a 1-year high of $198.33. The business has a 50 day moving average of $183.25 and a 200-day moving average of $179.06. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15.

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 firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.82 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. AMETEK’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the business earned $1.68 earnings per share. As a group, sell-side analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.31 dividend. This is a boost from AMETEK’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Friday, March 14th. AMETEK’s dividend payout ratio (DPR) is 20.91%.

AMETEK declared that its Board of Directors has approved a stock repurchase program on Friday, February 7th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the technology company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

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.