Aviso Financial Inc. Raises Holdings in AMETEK, Inc. (NYSE:AME)

Aviso Financial Inc. increased its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 7.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,229 shares of the technology company's stock after acquiring an additional 2,410 shares during the period. Aviso Financial Inc.'s holdings in AMETEK were worth $5,990,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AME. State Street Corp increased its holdings in AMETEK by 0.3% in the third quarter. State Street Corp now owns 9,220,376 shares of the technology company's stock valued at $1,583,231,000 after buying an additional 24,072 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of AMETEK by 3.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company's stock worth $1,199,454,000 after acquiring an additional 250,538 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of AMETEK by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company's stock valued at $924,308,000 after acquiring an additional 45,459 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of AMETEK by 2.3% during the 4th quarter. Bank of New York Mellon Corp now owns 4,415,508 shares of the technology company's stock worth $795,939,000 after acquiring an additional 99,505 shares in the last quarter. Finally, Flossbach Von Storch SE lifted its stake in AMETEK by 2.5% during the fourth quarter. Flossbach Von Storch SE now owns 3,724,352 shares of the technology company's stock worth $671,352,000 after purchasing an additional 91,287 shares during the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

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AMETEK Stock Performance

AME stock traded down $2.73 during trading on Tuesday, hitting $175.90. The company had a trading volume of 895,219 shares, compared to its average volume of 1,158,417. The firm has a 50-day moving average price of $183.08 and a 200-day moving average price of $180.42. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15. The firm has a market cap of $40.57 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a 1-year low of $149.03 and a 1-year high of $198.33.

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

AMETEK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.31 dividend. 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 0.70%. AMETEK's dividend payout ratio (DPR) is 20.91%.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on AME. KeyCorp increased their price target on shares of AMETEK from $205.00 to $215.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. StockNews.com upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a research note on Sunday, March 9th. Truist Financial boosted their price target on shares of AMETEK from $221.00 to $222.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Bank of America raised AMETEK from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $195.00 to $225.00 in a report on Monday, December 16th. Finally, BNP Paribas raised 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. One research analyst has rated the stock with a sell rating, two have given 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, AMETEK currently has a consensus rating of "Moderate Buy" and an average target price of $204.67.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $189.41, for a total value of $250,021.20. Following the sale, the director now owns 22,029 shares of the company's stock, valued at $4,172,512.89. This represents a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by company insiders.

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.