Banco Santander S.A. Lowers Holdings in AMETEK, Inc. (NYSE:AME)

Banco Santander S.A. lessened its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 14.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,566 shares of the technology company's stock after selling 6,198 shares during the period. Banco Santander S.A.'s holdings in AMETEK were worth $6,772,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AME. State Street Corp lifted its position in shares of AMETEK by 0.3% during the third quarter. State Street Corp now owns 9,220,376 shares of the technology company's stock worth $1,583,231,000 after purchasing an additional 24,072 shares during the last quarter. JPMorgan Chase & Co. increased its stake in AMETEK by 3.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company's stock worth $1,199,454,000 after buying an additional 250,538 shares during the period. Geode Capital Management LLC lifted its holdings in AMETEK by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company's stock valued at $924,308,000 after buying an additional 45,459 shares in the last quarter. Bank of New York Mellon Corp boosted its position in AMETEK by 2.3% in the 4th quarter. Bank of New York Mellon Corp now owns 4,415,508 shares of the technology company's stock valued at $795,939,000 after buying an additional 99,505 shares during the period. Finally, Flossbach Von Storch SE grew its stake in AMETEK by 2.5% in the 4th quarter. Flossbach Von Storch SE now owns 3,724,352 shares of the technology company's stock worth $671,352,000 after acquiring an additional 91,287 shares in the last quarter. Institutional investors own 87.43% of the company's stock.

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Wall Street Analyst Weigh In

AME has been the subject of a number of research reports. Bank of America upgraded 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 report on Monday, December 16th. Truist Financial raised their price target on AMETEK from $221.00 to $222.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Robert W. Baird lowered their price objective on shares of AMETEK from $200.00 to $197.00 and set a "neutral" rating for the company in a research note on Wednesday, February 5th. KeyCorp raised their target price on shares of AMETEK from $205.00 to $215.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. Finally, BNP Paribas raised shares of AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price target for the company in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $204.67.

AMETEK Stock Down 0.1 %

NYSE AME traded down $0.21 on Tuesday, hitting $179.16. The stock had a trading volume of 1,238,482 shares, compared to its average volume of 1,364,852. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75. The stock has a market cap of $41.33 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week high of $198.33. The business's fifty day moving average price is $183.33 and its 200 day moving average price is $180.21.

AMETEK (NYSE:AME - Get Free Report) last posted its quarterly earnings data 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. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the company posted $1.68 earnings per share. The company's revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a yield of 0.69%. This is a boost from AMETEK's previous quarterly dividend of $0.28. AMETEK's payout ratio is currently 20.91%.

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

Insider Buying and Selling at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,320 shares of AMETEK stock in a transaction dated 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 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 document filed with the SEC, which is available through this hyperlink. Company insiders own 0.61% of the company's stock.

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.