AMETEK, Inc. (NYSE:AME) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,578 shares of the technology company's stock after selling 1,627 shares during the period. Corebridge Financial Inc.'s holdings in AMETEK were worth $10,199,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of AME. Versant Capital Management Inc raised its position in shares of AMETEK by 3,116.7% during the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company's stock worth $35,000 after acquiring an additional 187 shares in the last quarter. Itau Unibanco Holding S.A. increased its stake in AMETEK by 62.6% in the third quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company's stock valued at $34,000 after purchasing an additional 77 shares during the last quarter. AdvisorNet Financial Inc raised its holdings in AMETEK by 1,176.5% during the fourth 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. lifted 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 during the last quarter. Finally, OFI Invest Asset Management acquired a new position in shares of AMETEK in the 4th quarter valued at $43,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several equities research analysts recently commented on AME shares. Robert W. Baird cut their price target on shares of AMETEK from $200.00 to $197.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. Truist Financial lifted their target price on AMETEK from $221.00 to $222.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. StockNews.com cut AMETEK from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. BNP Paribas raised AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price target on the stock in a research report on Thursday, January 16th. Finally, Bank of America raised AMETEK from a "neutral" rating to a "buy" rating and increased their price objective for the company from $195.00 to $225.00 in a report on Monday, December 16th. 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $204.67.

AMETEK Stock Performance

Shares of NYSE AME traded up $1.66 during mid-day trading on Monday, hitting $172.05. 1,498,831 shares of the company were exchanged, compared to its average volume of 1,227,690. The stock has a 50 day simple moving average of $182.43 and a 200-day simple moving average of $181.06. AMETEK, Inc. has a 1-year low of $149.03 and a 1-year high of $198.33. 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 $39.70 billion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME - Get Free Report) last released its earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.85 by $0.02. The company had revenue of $1.76 billion during 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 revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the business earned $1.68 EPS. On average, sell-side analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.72%. This is an increase from AMETEK's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, March 14th. AMETEK's dividend payout ratio is 20.91%.

AMETEK announced that its Board of Directors has approved a stock 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 buy up to 2.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other AMETEK news, Director Thomas A. Amato sold 710 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the completion of the transaction, the director now owns 10,560 shares in the company, valued at approximately $1,865,318.40. This represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven W. Kohlhagen sold 1,320 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total transaction of $250,021.20. Following the sale, the director now owns 22,029 shares in the company, 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. Insiders own 0.57% of the company's stock.

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.