Amundi Sells 16,171 Shares of AMETEK, Inc. (NYSE:AME)

Amundi decreased its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 858,026 shares of the technology company's stock after selling 16,171 shares during the quarter. Amundi owned approximately 0.37% of AMETEK worth $153,115,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB lifted its holdings in AMETEK by 4.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company's stock valued at $261,000 after purchasing an additional 63 shares during the last quarter. AlphaMark Advisors LLC lifted its holdings in AMETEK by 2.1% during the 4th quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company's stock valued at $604,000 after purchasing an additional 70 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in AMETEK by 42.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company's stock valued at $42,000 after purchasing an additional 70 shares during the last quarter. Quotient Wealth Partners LLC lifted its holdings in AMETEK by 3.9% during the 4th quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company's stock valued at $332,000 after purchasing an additional 70 shares during the last quarter. Finally, Howard Capital Management Inc. lifted its holdings in AMETEK by 5.0% during the 4th quarter. Howard Capital Management Inc. now owns 1,501 shares of the technology company's stock valued at $271,000 after purchasing an additional 72 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company's stock.

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Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,320 shares of AMETEK stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is owned by insiders.

AMETEK Price Performance

AMETEK stock traded down $4.67 during midday trading on Thursday, reaching $172.54. The company's stock had a trading volume of 1,721,265 shares, compared to its average volume of 1,363,497. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $198.33. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $183.15 and a 200-day moving average price of $180.14. The stock has a market cap of $39.80 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 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 firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the firm posted $1.68 earnings per share. The business's revenue for the quarter was up 1.8% on a year-over-year basis. On average, sell-side analysts predict that AMETEK, Inc. will post 7.15 EPS for the current year.

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

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 positive change from AMETEK's previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Friday, March 14th. AMETEK's payout ratio is currently 20.91%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. StockNews.com upgraded AMETEK from a "hold" rating to a "buy" rating in a research report on Sunday. Truist Financial increased their price objective on AMETEK from $221.00 to $222.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. KeyCorp increased their price objective on AMETEK from $205.00 to $215.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. Robert W. Baird lowered their price objective 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, Bank of America upgraded AMETEK from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $195.00 to $225.00 in a research report on Monday, December 16th. One equities research 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 company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $204.67.

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.