AMETEK, Inc. (NYSE:AME) Stock Holdings Lessened by Forte Capital LLC ADV

Forte Capital LLC ADV cut its stake in shares of AMETEK, Inc. (NYSE:AME) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,570 shares of the technology company’s stock after selling 879 shares during the quarter. AMETEK accounts for 2.1% of Forte Capital LLC ADV’s portfolio, making the stock its 13th largest holding. Forte Capital LLC ADV’s holdings in AMETEK were worth $15,264,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Commonwealth Equity Services LLC raised its holdings in shares of AMETEK by 1.6% during the third quarter. Commonwealth Equity Services LLC now owns 15,965 shares of the technology company’s stock valued at $2,359,000 after acquiring an additional 257 shares during the period. Xponance Inc. boosted its position in shares of AMETEK by 3.8% in the third quarter. Xponance Inc. now owns 28,732 shares of the technology company’s stock worth $4,245,000 after buying an additional 1,060 shares during the period. Raymond James & Associates grew its holdings in shares of AMETEK by 6.4% during the third quarter. Raymond James & Associates now owns 168,898 shares of the technology company’s stock valued at $24,956,000 after buying an additional 10,173 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in AMETEK by 60.0% during the third quarter. Stratos Wealth Partners LTD. now owns 3,241 shares of the technology company’s stock valued at $479,000 after buying an additional 1,216 shares during the period. Finally, Railway Pension Investments Ltd raised its position in AMETEK by 92.8% during the third quarter. Railway Pension Investments Ltd now owns 50,272 shares of the technology company’s stock valued at $7,428,000 after buying an additional 24,200 shares during the period. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

AMETEK Stock Up 2.0 %

Shares of AME traded up $3.22 during trading hours on Friday, hitting $166.56. 2,065,100 shares of the company were exchanged, compared to its average volume of 956,196. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.59 and a current ratio of 1.11. The company has a market cap of $38.51 billion, a PE ratio of 29.27, a PEG ratio of 2.66 and a beta of 1.21. The firm’s 50 day moving average is $179.64 and its 200-day moving average is $166.05. AMETEK, Inc. has a 52 week low of $136.89 and a 52 week high of $186.32.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.59 by $0.05. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.49 earnings per share. On average, equities research analysts forecast that AMETEK, Inc. will post 6.81 EPS for the current fiscal 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 $0.28 dividend. This is an increase from AMETEK’s previous quarterly dividend of $0.25. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, March 7th. AMETEK’s dividend payout ratio (DPR) is currently 19.68%.

Insider Transactions at AMETEK

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

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.