Reasons for the Outperformance of AMETEK (AME) in Q4

Aristotle Atlantic Partners, LLC, an investment advisor, released its “Core Equity Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund posted a return of 6.92% net of fees compared to a 7.56% return for the S&P 500 Index. The fund’s underperformance in the quarter was primarily because of the security selection and allocation effects. Holdings in Health Care, Consumer Staples, and Industrials detracted from relative performance while holdings in Consumer Discretionary, Financials, and Information Technology contributed towards the relative performance of the strategy in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Aristotle Core Equity Strategy highlighted stocks like AMETEK, Inc. (NYSE:AME) in the Q4 2022 investor letter. Headquartered in Berwyn, Pennsylvania, AMETEK, Inc. (NYSE:AME) is an electronic instruments and electromechanical devices manufacturer. On March 28, 2023, AMETEK, Inc. (NYSE:AME) stock closed at $141.14 per share. One-month return of AMETEK, Inc. (NYSE:AME) was -0.36%, and its shares gained 4.22% of their value over the last 52 weeks. AMETEK, Inc. (NYSE:AME) has a market capitalization of $32.502 billion.

Aristotle Core Equity Strategy made the following comment about AMETEK, Inc. (NYSE:AME) in its Q4 2022 investor letter:

“AMETEK, Inc. (NYSE:AME) contributed to performance in the fourth quarter following a better-than-expected third quarter earnings report and an increase in full year guidance. The company has low balance sheet leverage and management appeared confident in its ability to source acquisitions. Management believes that the company’s recession risk is lower than in previous economic cycles due to the remixing of the portfolio to less cyclical end markets.”

rommma/Shutterstock.com

AMETEK, Inc. (NYSE:AME) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held AMETEK, Inc. (NYSE:AME) at the end of the fourth quarter which was 45 in the previous quarter.

We discussed AMETEK, Inc. (NYSE:AME) in another article and shared the Mario Gabelli’s top stock picks for 2023. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

• 11 Best Cryptocurrency Stocks to Buy
• 15 States with the Largest Declines in Unemployment
• 16 Biggest Plumbing Companies in the World

Disclosure: None. This article is originally published at Insider Monkey.