AMETEK, Inc. (NYSE:AME) is Alecta Tjanstepension Omsesidigt's 10th Largest Position

Alecta Tjanstepension Omsesidigt reduced its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,678,465 shares of the technology company's stock after selling 140,900 shares during the quarter. AMETEK comprises approximately 2.5% of Alecta Tjanstepension Omsesidigt's holdings, making the stock its 10th largest position. Alecta Tjanstepension Omsesidigt owned 1.16% of AMETEK worth $482,927,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AME. Itau Unibanco Holding S.A. boosted its holdings in AMETEK by 62.6% in the third quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company's stock worth $34,000 after acquiring an additional 77 shares in the last quarter. Versant Capital Management Inc raised its position in shares of AMETEK by 3,116.7% in the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company's stock worth $35,000 after purchasing an additional 187 shares during the last quarter. AdvisorNet Financial Inc boosted its stake in 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 purchasing an additional 200 shares in the last quarter. Geneos Wealth Management Inc. grew its position in AMETEK by 42.9% during the 4th 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 during the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in AMETEK during the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 87.43% of the company's stock.

AMETEK Stock Performance

AME stock traded up $1.85 during trading on Friday, reaching $189.18. The stock had a trading volume of 2,096,753 shares, compared to its average volume of 1,325,322. The firm has a market cap of $43.64 billion, a PE ratio of 31.90, a PEG ratio of 2.73 and a beta of 1.16. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. The stock's 50 day moving average is $183.25 and its two-hundred day moving average is $179.19. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $198.33.

AMETEK (NYSE:AME - Get Free Report) last issued its quarterly earnings data 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 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 business's quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.68 EPS. As a group, equities analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK declared that its board has authorized a stock buyback plan on Friday, February 7th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board believes its shares are undervalued.

AMETEK Increases Dividend

The firm also recently disclosed 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 an increase 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 dividend on an annualized basis and a dividend yield of 0.66%. AMETEK's payout ratio is presently 20.91%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AME shares. Truist Financial upped their target price on shares of AMETEK from $221.00 to $222.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. KeyCorp upped 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. Bank of America raised AMETEK from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $195.00 to $225.00 in a report on Monday, December 16th. BNP Paribas upgraded AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price target for the company in a research note on Thursday, January 16th. Finally, Robert W. Baird dropped their price objective on AMETEK from $200.00 to $197.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.