Maren Capital LLC Acquires 102,021 Shares of AMETEK, Inc. (NYSE:AME)

Maren Capital LLC increased its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 19.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 638,462 shares of the technology company's stock after buying an additional 102,021 shares during the period. AMETEK comprises approximately 9.0% of Maren Capital LLC's portfolio, making the stock its 3rd largest position. Maren Capital LLC owned 0.28% of AMETEK worth $109,630,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AME. Bank of New York Mellon Corp lifted its position in shares of AMETEK by 34.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company's stock worth $600,615,000 after purchasing an additional 926,657 shares during the period. Meridiem Investment Management Ltd. acquired a new position in shares of AMETEK in the 3rd quarter worth approximately $130,579,000. Principal Financial Group Inc. lifted its position in shares of AMETEK by 72.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company's stock worth $288,526,000 after purchasing an additional 703,501 shares during the period. D1 Capital Partners L.P. acquired a new position in shares of AMETEK during the 3rd quarter valued at $79,782,000. Finally, James Hambro & Partners LLP acquired a new position in shares of AMETEK during the 3rd quarter valued at $60,188,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of AMETEK from $219.00 to $221.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Mizuho boosted their target price on shares of AMETEK from $190.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. TD Cowen downgraded AMETEK from a "hold" rating to a "sell" rating in a research note on Monday, October 7th. Wolfe Research raised shares of AMETEK to a "hold" rating in a report on Wednesday, September 18th. Finally, KeyCorp raised their price target on AMETEK from $205.00 to $215.00 and gave the stock an "overweight" rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AMETEK currently has an average rating of "Moderate Buy" and an average price target of $199.29.

AMETEK Trading Up 0.3 %

NYSE:AME traded up $0.67 during mid-day trading on Wednesday, reaching $195.00. 890,922 shares of the company's stock traded hands, compared to its average volume of 1,154,964. AMETEK, Inc. has a 12-month low of $149.03 and a 12-month high of $198.33. The firm has a market capitalization of $45.11 billion, a price-to-earnings ratio of 33.86, a PEG ratio of 3.19 and a beta of 1.15. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The company has a 50 day moving average price of $180.01 and a 200-day moving average price of $172.02.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.04. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. AMETEK's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.64 EPS. On average, sell-side analysts predict that AMETEK, Inc. will post 6.8 earnings per share for the current year.

AMETEK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a yield of 0.57%. AMETEK's dividend payout ratio is presently 19.51%.

Insider Buying and Selling at AMETEK

In other news, insider Tony J. Ciampitti sold 16,210 shares of the business's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the completion of the sale, the insider now owns 49,490 shares of the company's stock, valued at $9,750,024.90. The trade was a 24.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven W. Kohlhagen sold 1,460 shares of the business's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the sale, the director now directly owns 23,349 shares of the company's stock, valued at $4,006,454.91. This represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,660 shares of company stock worth $5,958,141. Insiders own 0.61% of the company's stock.

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.