Mendel Money Management Has $5.10 Million Stock Holdings in AMETEK, Inc. (NYSE:AME)

Mendel Money Management trimmed its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,297 shares of the technology company's stock after selling 1,550 shares during the period. AMETEK comprises 2.3% of Mendel Money Management's holdings, making the stock its 10th largest position. Mendel Money Management's holdings in AMETEK were worth $5,101,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. EdgePoint Investment Group Inc. increased its stake in shares of AMETEK by 87.9% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company's stock worth $337,279,000 after purchasing an additional 918,737 shares during the last quarter. American Century Companies Inc. increased its position in AMETEK by 240.3% during the fourth quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company's stock worth $202,805,000 after buying an additional 794,473 shares during the last quarter. Principal Financial Group Inc. raised its stake in AMETEK by 72.0% in 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 acquiring an additional 703,501 shares during the period. Bryn Mawr Capital Management LLC raised its position in shares of AMETEK by 10,506.5% in the fourth 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 period. Finally, D1 Capital Partners L.P. acquired a new stake in AMETEK during the third quarter worth approximately $79,782,000. Institutional investors own 87.43% of the company's stock.

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Insider Transactions at AMETEK

In other news, Director Thomas A. Amato sold 710 shares of the firm's 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 completion of the transaction, the director now directly owns 10,560 shares in the company, valued at approximately $1,865,318.40. This trade represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven W. Kohlhagen sold 1,320 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were 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 directly owns 22,029 shares of the company's stock, valued at approximately $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. 0.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on AME shares. StockNews.com cut AMETEK from a "buy" rating to a "hold" rating in a research report on Wednesday. BNP Paribas upgraded AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price objective on the stock in a research note on Thursday, January 16th. Truist Financial upped their target price on AMETEK from $221.00 to $222.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Bank of America raised AMETEK from a "neutral" rating to a "buy" rating and boosted their price target for the company from $195.00 to $225.00 in a research note on Monday, December 16th. Finally, Robert W. Baird dropped their target price on shares of AMETEK from $200.00 to $197.00 and set a "neutral" rating for the company in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, three 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, the company has a consensus rating of "Moderate Buy" and an average price target of $204.67.

AMETEK Stock Down 3.0 %

Shares of AMETEK stock traded down $5.31 during trading hours on Friday, reaching $170.25. The company's stock had a trading volume of 1,101,493 shares, compared to its average volume of 1,226,605. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24. The stock's fifty day simple moving average is $182.60 and its two-hundred day simple moving average is $180.92. The company has a market capitalization of $39.28 billion, a P/E ratio of 28.71, a P/E/G ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a one year low of $149.03 and a one year high of $198.33.

AMETEK (NYSE:AME - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.02. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.82 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The company's revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.68 EPS. On average, research analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK declared that its Board of Directors has authorized a share repurchase program on Friday, February 7th that allows the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

AMETEK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.31 per share. This is an increase from AMETEK's previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Friday, March 14th. AMETEK's dividend payout ratio is currently 20.91%.

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.