Frank Rimerman Advisors LLC Acquires 332 Shares of AMETEK, Inc. (NYSE:AME)

Frank Rimerman Advisors LLC raised its holdings in AMETEK, Inc. (NYSE:AME) by 14.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,698 shares of the technology company’s stock after buying an additional 332 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in AMETEK were worth $486,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Itau Unibanco Holding S.A. boosted its position in shares of 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 in the last quarter. Versant Capital Management Inc boosted its position in shares of AMETEK by 3,116.7% during the fourth quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock valued at $35,000 after purchasing an additional 187 shares in the last quarter. AdvisorNet Financial Inc boosted its position in shares of 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 in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of 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 in the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of AMETEK during the fourth quarter valued at approximately $43,000. 87.43% of the stock is currently owned by institutional investors.

Insider Activity at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was 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 in the company, valued at approximately $4,172,512.89. This represents a 5.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is owned by company insiders.

AMETEK Stock Up 2.0 %

AME stock opened at $176.35 on Monday. AMETEK, Inc. has a 1-year low of $149.03 and a 1-year high of $198.33. The business has a fifty day moving average price of $183.09 and a 200-day moving average price of $180.36. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75. The stock has a market capitalization of $40.68 billion, a P/E ratio of 29.74, a P/E/G ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share 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%. The company’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.68 earnings per share. Equities analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK announced that its board has approved a share repurchase plan on Friday, February 7th that permits the company to buyback $1.25 billion in shares. This buyback authorization permits the technology company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.

AMETEK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from AMETEK’s previous quarterly dividend of $0.28. AMETEK’s dividend payout ratio is 20.91%.

Analysts Set New Price Targets

AME has been the topic of several research reports. KeyCorp lifted their price target on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a research report on Sunday, March 9th. BNP Paribas upgraded AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective for the company in a research note on Thursday, January 16th. Bank of America upgraded AMETEK from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $195.00 to $225.00 in a research note on Monday, December 16th. Finally, Truist Financial lifted their price objective on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AMETEK presently has a consensus rating of “Moderate Buy” and an average target price of $204.67.

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.