Capital Group Private Client Services Inc. Sells 13,181 Shares of AMETEK, Inc. (NYSE:AME)

Capital Group Private Client Services Inc. cut its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 429,777 shares of the technology company's stock after selling 13,181 shares during the period. Capital Group Private Client Services Inc. owned about 0.19% of AMETEK worth $77,472,000 as of its most recent SEC filing.

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

AMETEK Price Performance

Shares of AME traded up $3.16 during mid-day trading on Wednesday, hitting $162.81. 581,595 shares of the stock were exchanged, compared to its average volume of 1,286,723. 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 company has a market cap of $37.57 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a 52-week low of $145.02 and a 52-week high of $198.33. The firm has a 50-day moving average of $173.17 and a two-hundred day moving average of $179.53.

AMETEK (NYSE:AME - Get Free Report) last released its quarterly 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. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The company 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 firm earned $1.68 earnings per share. AMETEK's revenue was up 1.8% on a year-over-year basis. On average, equities analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 0.76%. 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 (DPR) is presently 20.91%.

AMETEK announced that its board has authorized a stock buyback plan on Friday, February 7th that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the technology company to buy up to 2.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

AME has been the topic of several analyst reports. Morgan Stanley started coverage on shares of AMETEK in a research note on Monday, April 14th. They set an "equal weight" rating and a $170.00 price target on the stock. Robert W. Baird cut their price target on AMETEK from $200.00 to $197.00 and set a "neutral" rating for the company in a report on Wednesday, February 5th. StockNews.com downgraded AMETEK from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Truist Financial cut their price objective on AMETEK from $216.00 to $196.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, BNP Paribas upgraded shares of AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 target price on the stock in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $198.60.

Insider Transactions at AMETEK

In related news, Director Thomas A. Amato sold 710 shares of the firm'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 completion of the sale, the director now directly owns 10,560 shares of the company's stock, valued at approximately $1,865,318.40. This trade represents a 6.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven W. Kohlhagen sold 1,320 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $189.41, for a total value of $250,021.20. Following the completion of the transaction, the director now directly owns 22,029 shares in the company, valued at $4,172,512.89. This trade represents a 5.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.57% of the company's stock.

AMETEK Company 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.