Wellington Management Group LLP Has $169.43 Million Stock Position in AMETEK, Inc. (NYSE:AME)

Wellington Management Group LLP reduced its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 939,921 shares of the technology company's stock after selling 17,400 shares during the quarter. Wellington Management Group LLP owned approximately 0.41% of AMETEK worth $169,430,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of AMETEK in the 4th quarter valued at approximately $697,080,000. EdgePoint Investment Group Inc. grew its position in AMETEK by 87.9% in the third quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company's stock worth $337,279,000 after acquiring an additional 918,737 shares in the last quarter. American Century Companies Inc. increased its stake in shares of AMETEK by 240.3% during the 4th quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company's stock worth $202,805,000 after purchasing an additional 794,473 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of AMETEK by 72.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company's stock valued at $288,526,000 after purchasing an additional 703,501 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC lifted its stake in shares of AMETEK by 10,506.5% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 476,442 shares of the technology company's stock valued at $812,000 after purchasing an additional 471,950 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

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AMETEK Stock Performance

NYSE AME traded up $0.58 during midday trading on Monday, hitting $153.24. The company had a trading volume of 2,616,554 shares, compared to its average volume of 1,255,674. The firm has a fifty day simple moving average of $179.92 and a two-hundred day simple moving average of $180.82. The stock has a market cap of $35.36 billion, a price-to-earnings ratio of 25.84, a P/E/G 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 fifty-two week low of $145.02 and a fifty-two week high of $198.33.

AMETEK (NYSE:AME - Get Free Report) last released its earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, topping analysts' consensus estimates of $1.85 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate 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 last year, the business earned $1.68 earnings per share. Equities analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK announced that its Board of Directors has approved a stock buyback plan on Friday, February 7th that permits the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization permits the technology company to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

AMETEK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.81%. This is a positive change from AMETEK's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, March 14th. AMETEK's dividend payout ratio is presently 20.91%.

Insiders Place Their Bets

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 22,029 shares in the company, valued at $4,172,512.89. This trade represents a 5.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas A. Amato sold 710 shares of the company's stock in a transaction 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 completion of the sale, the director now owns 10,560 shares in the company, valued at $1,865,318.40. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AME shares. Truist Financial raised their target price on AMETEK from $221.00 to $222.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Robert W. Baird reduced their target price on AMETEK from $200.00 to $197.00 and set a "neutral" rating for the company in a report on Wednesday, February 5th. Bank of America raised AMETEK from a "neutral" rating to a "buy" rating and upped their target price for the stock from $195.00 to $225.00 in a research report on Monday, December 16th. StockNews.com raised shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Thursday. Finally, BNP Paribas raised shares of AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price objective for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average 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.