Tyche Wealth Partners LLC Acquires Shares of 38,054 AMETEK, Inc. (NYSE:AME)

Tyche Wealth Partners LLC bought a new stake in AMETEK, Inc. (NYSE:AME) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 38,054 shares of the technology company’s stock, valued at approximately $6,275,000. AMETEK comprises about 1.5% of Tyche Wealth Partners LLC’s investment portfolio, making the stock its 13th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of AMETEK in the fourth quarter valued at about $509,944,000. Price T Rowe Associates Inc. MD increased its position in AMETEK by 643.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,953,131 shares of the technology company’s stock valued at $552,332,000 after purchasing an additional 3,421,558 shares during the period. Moneta Group Investment Advisors LLC boosted its holdings in shares of AMETEK by 39,681.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,827,569 shares of the technology company’s stock worth $255,348,000 after buying an additional 1,822,975 shares in the last quarter. Morgan Stanley boosted its holdings in shares of AMETEK by 93.2% during the 4th quarter. Morgan Stanley now owns 3,678,094 shares of the technology company’s stock worth $513,903,000 after buying an additional 1,774,651 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of AMETEK by 4.2% during the 1st quarter. BlackRock Inc. now owns 16,215,102 shares of the technology company’s stock worth $2,356,541,000 after buying an additional 658,629 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Trading Up 0.0 %

Shares of AMETEK stock traded up $0.04 on Tuesday, reaching $179.08. The company had a trading volume of 896,151 shares, compared to its average volume of 951,783. The firm’s 50-day moving average price is $178.56 and its two-hundred day moving average price is $163.72. AMETEK, Inc. has a 1 year low of $133.12 and a 1 year high of $186.32. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.98 and a quick ratio of 0.59. The firm has a market cap of $41.41 billion, a price-to-earnings ratio of 31.58, a P/E/G ratio of 2.87 and a beta of 1.22.

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

AMETEK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were issued a $0.28 dividend. This is a boost from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend 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 is presently 19.75%.

Insider Buying and Selling

In related news, Director Thomas A. Amato sold 780 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 10,240 shares of the company’s stock, valued at $1,863,680. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Thomas A. Amato sold 780 shares of AMETEK 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 completion of the transaction, the director now directly owns 10,240 shares in the company, valued at $1,863,680. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 completion of 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. In the last 90 days, insiders sold 59,881 shares of company stock valued at $10,689,758. 0.61% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AME shares. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Truist Financial initiated coverage on AMETEK in a research report on Thursday, March 14th. They set a “buy” rating and a $210.00 price target for the company. KeyCorp lifted their price target on AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Finally, Royal Bank of Canada dropped 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. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, AMETEK has an average rating of “Moderate Buy” and a consensus price target of $180.78.

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.