Maren Capital LLC Acquires 48,170 Shares of AMETEK, Inc. (NYSE:AME)

Maren Capital LLC grew its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 7.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 686,632 shares of the technology company's stock after purchasing an additional 48,170 shares during the quarter. AMETEK comprises approximately 9.5% of Maren Capital LLC's portfolio, making the stock its 2nd largest holding. Maren Capital LLC owned approximately 0.30% of AMETEK worth $123,772,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in AMETEK by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 26,147,772 shares of the technology company's stock valued at $4,713,397,000 after purchasing an additional 282,208 shares during the last quarter. FMR LLC lifted its holdings in AMETEK by 1.1% in the fourth quarter. FMR LLC now owns 8,956,329 shares of the technology company's stock valued at $1,614,468,000 after acquiring an additional 98,546 shares during the last quarter. JPMorgan Chase & Co. grew its position in AMETEK by 3.7% in the third 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 during the period. Geode Capital Management LLC increased its stake in AMETEK by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 5,526,369 shares of the technology company's stock worth $993,546,000 after acquiring an additional 124,713 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of AMETEK by 2.3% in the 4th quarter. Bank of New York Mellon Corp now owns 4,415,508 shares of the technology company's stock valued at $795,939,000 after purchasing an additional 99,505 shares during the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling at AMETEK

In other AMETEK news, Director Thomas A. Amato sold 710 shares of the firm's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total transaction of $125,414.40. Following the transaction, the director now directly owns 10,560 shares of the company's stock, valued at approximately $1,865,318.40. This trade represents a 6.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $250,021.20. Following the completion of the sale, the director now directly owns 22,029 shares of the company's stock, valued at $4,172,512.89. The trade was a 5.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on AME. Robert W. Baird decreased their target price on shares of AMETEK from $200.00 to $197.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. BNP Paribas raised shares of AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price objective for the company in a research report on Thursday, January 16th. Bank of America raised AMETEK from a "neutral" rating to a "buy" rating and boosted their target price for the company from $195.00 to $225.00 in a research report on Monday, December 16th. Truist Financial lowered their price target on AMETEK from $216.00 to $196.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, StockNews.com downgraded AMETEK from a "buy" rating to a "hold" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $201.78.

AMETEK Stock Up 0.8 %

AME stock traded up $1.28 during mid-day trading on Friday, reaching $158.70. The company had a trading volume of 2,007,471 shares, compared to its average volume of 1,277,065. AMETEK, Inc. has a fifty-two week low of $145.02 and a fifty-two week high of $198.33. The company has a market capitalization of $36.62 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24. The firm has a fifty day simple moving average of $176.72 and a 200 day simple moving average of $180.09.

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

AMETEK declared that its board has initiated a share buyback plan on Friday, February 7th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 2.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

AMETEK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid 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 was Friday, March 14th. This represents a $1.24 annualized dividend and a yield of 0.78%. AMETEK's payout ratio is presently 20.91%.

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.