Free Trial

Alberta Investment Management Corp Buys New Shares in AMETEK, Inc. (NYSE:AME)

AMETEK logo with Computer and Technology background

Alberta Investment Management Corp purchased a new position in AMETEK, Inc. (NYSE:AME - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 75,729 shares of the technology company's stock, valued at approximately $13,651,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AME. Itau Unibanco Holding S.A. raised its stake 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 acquiring an additional 77 shares in the last quarter. Versant Capital Management Inc raised its position in AMETEK by 3,116.7% during the 4th 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 lifted its holdings in shares of AMETEK by 1,176.5% in the 4th quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company's stock worth $39,000 after buying an additional 200 shares during the period. Geneos Wealth Management Inc. grew its position in shares of AMETEK by 42.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company's stock worth $42,000 after buying an additional 70 shares in the last quarter. Finally, Princeton Global Asset Management LLC purchased a new position in shares of AMETEK during the third quarter valued at $44,000. Institutional investors own 87.43% of the company's stock.

AMETEK Price Performance

Shares of NYSE AME traded down $2.67 during midday trading on Friday, hitting $186.11. The stock had a trading volume of 1,201,545 shares, compared to its average volume of 1,306,253. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a 1 year low of $149.03 and a 1 year high of $198.33. The company has a market capitalization of $43.05 billion, a PE ratio of 31.38, a P/E/G ratio of 2.77 and a beta of 1.16. The stock has a 50 day simple moving average of $182.98 and a 200-day simple moving average of $177.84.

AMETEK (NYSE:AME - Get Free Report) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.82 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The firm's quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.68 EPS. On average, sell-side analysts expect that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.31 per share. This is a boost from AMETEK's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.24 annualized dividend and a dividend yield of 0.67%. AMETEK's payout ratio is presently 18.89%.

AMETEK announced that its Board of Directors has authorized a stock buyback program on Friday, February 7th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the technology company to buy up to 2.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AME. Mizuho upped their target price on AMETEK from $190.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. KeyCorp raised their price objective on AMETEK from $205.00 to $215.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. BNP Paribas upgraded shares of AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 target price for the company in a report on Thursday, January 16th. Robert W. Baird lowered their price target on shares of AMETEK from $200.00 to $197.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. Finally, StockNews.com upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $204.67.

Check Out Our Latest Research Report on AME

Insider Transactions at AMETEK

In other AMETEK news, insider Emanuela Speranza sold 6,747 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total value of $1,321,737.30. Following the completion of the transaction, the insider now owns 30,460 shares of the company's stock, valued at $5,967,114. This trade represents a 18.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.61% of the company's stock.

About AMETEK

(Free Report)

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.

Read More

Institutional Ownership by Quarter for AMETEK (NYSE:AME)

Should You Invest $1,000 in AMETEK Right Now?

Before you consider AMETEK, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AMETEK wasn't on the list.

While AMETEK currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Metaverse Stocks And Why You Can't Ignore Them Cover

Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

NVIDIA Earnings: Will it Spark a Rally or Trigger a Sell-Off?
Marjorie Taylor Greene Bought THOUSANDS in Tesla Stock
The EXACT Date of Next Stock Market Crash

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines