M&T Bank Corp Acquires 9,091 Shares of AMETEK, Inc. (NYSE:AME)

M&T Bank Corp grew its position in AMETEK, Inc. (NYSE:AME - Free Report) by 35.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,833 shares of the technology company's stock after purchasing an additional 9,091 shares during the period. M&T Bank Corp's holdings in AMETEK were worth $6,279,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Oddo BHF Asset Management Sas bought a new stake in shares of AMETEK in the third quarter valued at about $3,724,000. Everence Capital Management Inc. acquired a new stake in shares of AMETEK in the fourth quarter valued at about $999,000. Czech National Bank increased its position in shares of AMETEK by 6.3% in the fourth quarter. Czech National Bank now owns 50,153 shares of the technology company's stock valued at $9,041,000 after acquiring an additional 2,987 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of AMETEK by 23.2% in the third quarter. BNP Paribas Financial Markets now owns 355,828 shares of the technology company's stock valued at $61,099,000 after acquiring an additional 67,025 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of AMETEK by 434.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company's stock valued at $97,614,000 after acquiring an additional 440,197 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors.

AMETEK Stock Performance

Shares of AMETEK stock traded down $4.61 on Monday, hitting $179.38. The stock had a trading volume of 1,814,006 shares, compared to its average volume of 1,367,660. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33. The business's 50 day moving average is $183.35 and its two-hundred day moving average is $180.13. 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 stock has a market cap of $41.37 billion, a price-to-earnings ratio of 30.25, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14.

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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, beating the consensus estimate of $1.85 by $0.02. The business had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.82 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The firm's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.68 earnings per share. Analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK announced that its board has authorized a stock repurchase program on Friday, February 7th that allows the company to buyback $1.25 billion in shares. This buyback authorization allows the technology company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its shares are undervalued.

AMETEK Increases Dividend

The business also recently declared 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. This represents a $1.24 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, March 14th. AMETEK's payout ratio is 20.91%.

Insider Activity at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of the company'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 completion of the sale, the director now directly owns 22,029 shares in the company, valued at $4,172,512.89. This represents a 5.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. KeyCorp lifted their target price on AMETEK from $205.00 to $215.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. StockNews.com raised AMETEK from a "hold" rating to a "buy" rating in a research report on Sunday. Bank of America raised AMETEK from a "neutral" rating to a "buy" rating and lifted their target price for the company from $195.00 to $225.00 in a research report on Monday, December 16th. Robert W. Baird lowered their price target on AMETEK from $200.00 to $197.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. Finally, Truist Financial boosted their price target on AMETEK from $221.00 to $222.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AMETEK presently has a consensus rating of "Moderate Buy" and a consensus price target of $204.67.

About AMETEK

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.