Cerity Partners LLC Lowers Stock Holdings in AMETEK, Inc. (NYSE:AME)

Cerity Partners LLC decreased its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 29.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,502 shares of the technology company's stock after selling 31,839 shares during the quarter. Cerity Partners LLC's holdings in AMETEK were worth $13,202,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Oddo BHF Asset Management Sas bought a new position in shares of AMETEK during the 3rd quarter worth approximately $3,724,000. Everence Capital Management Inc. bought a new stake in AMETEK during the fourth quarter worth $999,000. Czech National Bank grew its stake in shares of AMETEK by 6.3% during the fourth quarter. Czech National Bank now owns 50,153 shares of the technology company's stock worth $9,041,000 after buying an additional 2,987 shares during the last quarter. National Bank of Canada FI increased its position in AMETEK by 17.4% in the 4th quarter. National Bank of Canada FI now owns 142,093 shares of the technology company's stock valued at $25,616,000 after acquiring an additional 21,009 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in 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. Institutional investors own 87.43% of the company's stock.

Insider Activity

In other AMETEK news, Director Thomas A. Amato sold 710 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total value of $125,414.40. Following the transaction, the director now directly owns 10,560 shares in the company, valued at $1,865,318.40. This represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven W. Kohlhagen sold 1,320 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $189.41, for a total value 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. Company insiders own 0.57% of the company's stock.

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AMETEK Stock Down 0.0 %

AME stock traded down $0.08 during trading on Tuesday, hitting $161.28. 134,909 shares of the company's stock traded hands, compared to its average volume of 1,424,247. The firm has a market capitalization of $37.22 billion, a P/E ratio of 27.20, a PEG ratio of 2.73 and a beta of 1.14. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a 1 year low of $145.02 and a 1 year high of $198.33. The business has a fifty day simple moving average of $176.35 and a two-hundred day simple moving average of $180.07.

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

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

AMETEK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from AMETEK's previous quarterly dividend of $0.28. AMETEK's dividend payout ratio (DPR) is 20.91%.

Analyst Ratings Changes

Several research firms have recently commented on AME. Truist Financial decreased their target price on shares of AMETEK from $216.00 to $196.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Morgan Stanley began coverage on AMETEK in a research report on Monday. They set an "equal weight" rating and a $170.00 target price for the company. Bank of America raised AMETEK from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $195.00 to $225.00 in a research note on Monday, December 16th. BNP Paribas upgraded 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. Finally, StockNews.com lowered AMETEK from a "buy" rating to a "hold" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AMETEK currently has a consensus rating of "Moderate Buy" and a consensus target price of $198.60.

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.