AMETEK, Inc. (NYSE:AME) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 12.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,535 shares of the technology company's stock after purchasing an additional 4,376 shares during the period. CIBC Asset Management Inc's holdings in AMETEK were worth $6,946,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Oddo BHF Asset Management Sas purchased a new stake in shares of AMETEK during the third quarter worth about $3,724,000. Everence Capital Management Inc. acquired a new position in shares of AMETEK during the fourth quarter valued at approximately $999,000. Czech National Bank boosted its stake in shares of AMETEK by 6.3% in the fourth quarter. Czech National Bank now owns 50,153 shares of the technology company's stock worth $9,041,000 after acquiring an additional 2,987 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of AMETEK by 23.2% during the third quarter. BNP Paribas Financial Markets now owns 355,828 shares of the technology company's stock worth $61,099,000 after purchasing an additional 67,025 shares in the last quarter. Finally, Taurus Asset Management LLC lifted its holdings in AMETEK by 2.9% in the 3rd quarter. Taurus Asset Management LLC now owns 115,033 shares of the technology company's stock valued at $19,752,000 after purchasing an additional 3,210 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company's stock.

AMETEK Stock Down 1.4 %

Shares of NYSE AME traded down $2.67 during midday trading on Friday, hitting $186.11. 1,202,695 shares of the company's stock were exchanged, compared to its average volume of 1,271,068. The firm's fifty day simple moving average is $182.95 and its 200-day simple moving average is $178.06. The company has a market cap of $43.05 billion, a PE ratio of 31.38, a P/E/G ratio of 2.77 and a beta of 1.16. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33. 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 (NYSE:AME - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.02. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.82 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The company's revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.68 EPS. Research analysts predict that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK announced that its board has approved a stock 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 reacquire up to 2.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

AMETEK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.31 dividend. 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 0.67%. This is a boost from AMETEK's previous quarterly dividend of $0.28. AMETEK's payout ratio is currently 18.89%.

Insider Activity

In related news, insider Emanuela Speranza sold 6,747 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 30,460 shares of the company's stock, valued at $5,967,114. This trade represents a 18.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AME. Truist Financial raised their price target on shares of AMETEK from $221.00 to $222.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Bank of America upgraded 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. KeyCorp raised their price objective on shares of AMETEK from $205.00 to $215.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. StockNews.com raised shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Mizuho increased their price target on AMETEK from $190.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. One 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 given a strong buy rating to the company. Based on data from MarketBeat.com, AMETEK currently has a consensus rating of "Moderate Buy" and a consensus price target of $204.67.

About AMETEK

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.