Forte Capital LLC ADV Has $15.26 Million Stake in AMETEK, Inc. (NYSE:AME)

Forte Capital LLC ADV lowered its position in AMETEK, Inc. (NYSE:AME) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 92,570 shares of the technology company’s stock after selling 879 shares during the quarter. AMETEK makes up about 2.1% of Forte Capital LLC ADV’s investment portfolio, making the stock its 13th largest holding. Forte Capital LLC ADV’s holdings in AMETEK were worth $15,264,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. M&T Bank Corp raised its position in shares of AMETEK by 0.5% in the fourth quarter. M&T Bank Corp now owns 15,442 shares of the technology company’s stock valued at $2,547,000 after buying an additional 73 shares in the last quarter. Provence Wealth Management Group lifted its position in shares of AMETEK by 5.5% during the 4th quarter. Provence Wealth Management Group now owns 1,435 shares of the technology company’s stock valued at $237,000 after acquiring an additional 75 shares during the period. Lincoln National Corp increased its position in shares of AMETEK by 6.1% in the third quarter. Lincoln National Corp now owns 1,436 shares of the technology company’s stock worth $212,000 after purchasing an additional 83 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in AMETEK by 4.6% in the third quarter. B. Riley Wealth Advisors Inc. now owns 1,919 shares of the technology company’s stock valued at $284,000 after purchasing an additional 85 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in AMETEK by 2.7% during the fourth quarter. Venturi Wealth Management LLC now owns 3,203 shares of the technology company’s stock worth $528,000 after purchasing an additional 85 shares during the period. Institutional investors own 87.43% of the company’s stock.

Insider Activity at AMETEK

In other news, CFO William Joseph Burke sold 27,400 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $185.05, for a total value of $5,070,370.00. Following the completion of the sale, the chief financial officer now owns 106,512 shares of the company’s stock, valued at $19,710,045.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Thomas M. Montgomery sold 6,891 shares of the business’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 transaction, the vice president now owns 21,543 shares in the company, valued at $3,993,641.34. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO William Joseph Burke sold 27,400 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $185.05, for a total value of $5,070,370.00. Following the sale, the chief financial officer now owns 106,512 shares of the company’s stock, valued at $19,710,045.60. The disclosure for this sale can be found here. Insiders sold 59,881 shares of company stock worth $10,689,758 over the last three months. Company insiders own 0.61% of the company’s stock.

AMETEK Price Performance

Shares of NYSE AME traded up $3.22 during mid-day trading on Friday, hitting $166.56. 2,065,100 shares of the stock traded hands, compared to its average volume of 956,196. AMETEK, Inc. has a twelve month low of $136.89 and a twelve month high of $186.32. The firm has a 50 day simple moving average of $179.64 and a two-hundred day simple moving average of $166.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.59. The company has a market cap of $38.51 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 2.66 and a beta of 1.21.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.05. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the firm posted $1.49 earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year. As a group, 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 issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. AMETEK’s payout ratio is 19.68%.

Wall Street Analysts Forecast Growth

AME has been the topic of several recent analyst reports. KeyCorp raised their target price on shares of AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Royal Bank of Canada lowered their price objective on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Finally, Truist Financial assumed coverage on AMETEK in a research report on Thursday, March 14th. They set a “buy” rating and a $210.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $180.78.

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.