AMETEK, Inc. (NYSE:AME) Stock Position Cut by Bank of Montreal Can

Bank of Montreal Can lowered its position in AMETEK, Inc. (NYSE:AME - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 283,114 shares of the technology company's stock after selling 38,566 shares during the quarter. Bank of Montreal Can owned approximately 0.12% of AMETEK worth $51,034,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Versant Capital Management Inc grew its stake in shares of AMETEK by 3,116.7% in the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company's stock valued at $35,000 after purchasing an additional 187 shares during the last quarter. AdvisorNet Financial Inc increased its holdings in shares of AMETEK by 1,176.5% in the 4th quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company's stock valued at $39,000 after purchasing an additional 200 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of AMETEK by 42.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company's stock worth $42,000 after acquiring an additional 70 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of AMETEK in the 4th quarter worth approximately $43,000. Finally, Anchor Investment Management LLC increased its stake in AMETEK by 366.1% in the 3rd quarter. Anchor Investment Management LLC now owns 261 shares of the technology company's stock valued at $45,000 after purchasing an additional 205 shares in the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Bank of America raised AMETEK from a "neutral" rating to a "buy" rating and upped their target price for the company from $195.00 to $225.00 in a report on Monday, December 16th. StockNews.com downgraded shares of AMETEK from a "buy" rating to a "hold" rating in a report on Friday. Truist Financial reduced their price target on shares of AMETEK from $216.00 to $196.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Robert W. Baird dropped 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. Finally, Morgan Stanley initiated coverage on AMETEK in a research note on Monday. They issued an "equal weight" rating and a $170.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $198.60.

AMETEK Trading Down 0.0 %

NYSE AME traded down $0.08 during mid-day trading on Tuesday, hitting $161.28. The company's stock had a trading volume of 134,909 shares, 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 price-to-earnings-growth ratio of 2.73 and a beta of 1.14. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75. AMETEK, Inc. has a 52-week low of $145.02 and a 52-week high of $198.33. The stock's fifty day simple moving average is $176.35 and its two-hundred day simple moving average is $180.07.

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

AMETEK Increases Dividend

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

AMETEK announced that its Board of Directors has approved a stock repurchase 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 reacquire up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at AMETEK

In related news, Director Thomas A. Amato sold 710 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total transaction of $125,414.40. Following the sale, the director now directly owns 10,560 shares of the company's stock, valued at approximately $1,865,318.40. This represents a 6.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 transaction of $250,021.20. Following the sale, the director now directly owns 22,029 shares of the company's stock, valued at approximately $4,172,512.89. This represents a 5.65 % decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.

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.