AMETEK, Inc. (NYSE:AME) Position Raised by Banque Pictet & Cie SA

Banque Pictet & Cie SA increased its position in AMETEK, Inc. (NYSE:AME - Free Report) by 16.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 177,456 shares of the technology company's stock after buying an additional 25,487 shares during the period. Banque Pictet & Cie SA owned about 0.08% of AMETEK worth $31,988,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its holdings in AMETEK by 4.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company's stock valued at $261,000 after buying an additional 63 shares during the period. AlphaMark Advisors LLC grew its holdings in AMETEK by 2.1% in the fourth quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company's stock valued at $604,000 after purchasing an additional 70 shares during the period. Geneos Wealth Management Inc. increased its position in AMETEK by 42.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company's stock worth $42,000 after purchasing an additional 70 shares during the last quarter. Quotient Wealth Partners LLC raised its stake in AMETEK by 3.9% during the fourth quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company's stock worth $332,000 after purchasing an additional 70 shares during the period. Finally, Wallace Advisory Group LLC boosted its holdings in shares of AMETEK by 5.8% in the 4th quarter. Wallace Advisory Group LLC now owns 1,371 shares of the technology company's stock valued at $235,000 after purchasing an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

Insider Transactions at AMETEK

In other AMETEK news, insider Tony J. Ciampitti sold 16,210 shares of AMETEK stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $197.01, for a total value of $3,193,532.10. Following the completion of the transaction, the insider now owns 49,490 shares of the company's stock, valued at $9,750,024.90. The trade was a 24.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Emanuela Speranza sold 6,747 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the sale, the insider now directly owns 30,460 shares in the company, valued at $5,967,114. This trade represents a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company's stock.

AMETEK Stock Up 0.3 %

Shares of NYSE AME traded up $0.47 during midday trading on Tuesday, reaching $184.01. 1,104,843 shares of the company's stock were exchanged, compared to its average volume of 1,343,408. The stock has a market capitalization of $42.56 billion, a PE ratio of 31.03, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week high of $198.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.84 and a current ratio of 1.24. The business's fifty day moving average price is $183.06 and its two-hundred day moving average price is $177.47.

AMETEK (NYSE:AME - Get Free Report) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.85 by $0.02. The company had revenue of $1.76 billion for 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%. AMETEK's quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.68 EPS. Analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK declared that its Board of Directors has approved a share buyback program on Friday, February 7th that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the technology company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors 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 paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from AMETEK's previous quarterly dividend of $0.28. AMETEK's dividend payout ratio is 18.89%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AME. Bank of America upgraded AMETEK from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $195.00 to $225.00 in a report on Monday, December 16th. StockNews.com upgraded AMETEK from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. KeyCorp boosted their target price on AMETEK from $205.00 to $215.00 and gave the stock an "overweight" rating in a report on Friday, November 22nd. Truist Financial raised their price target on shares of AMETEK from $221.00 to $222.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Finally, Mizuho boosted their price objective on shares of AMETEK from $190.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $204.67.

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.