CIBC Private Wealth Group LLC Decreases Position in AMETEK, Inc. (NYSE:AME)

CIBC Private Wealth Group LLC reduced its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 257,791 shares of the technology company's stock after selling 7,580 shares during the quarter. CIBC Private Wealth Group LLC owned 0.11% of AMETEK worth $46,003,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in AMETEK by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 26,147,772 shares of the technology company's stock valued at $4,713,397,000 after purchasing an additional 282,208 shares during the last quarter. State Street Corp lifted its holdings in shares of AMETEK by 0.3% during the 3rd quarter. State Street Corp now owns 9,220,376 shares of the technology company's stock worth $1,583,231,000 after acquiring an additional 24,072 shares during the last quarter. JPMorgan Chase & Co. grew its position in AMETEK by 3.7% in the third quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company's stock worth $1,199,454,000 after acquiring an additional 250,538 shares in the last quarter. Geode Capital Management LLC increased its stake in AMETEK by 0.8% in the third quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company's stock valued at $924,308,000 after acquiring an additional 45,459 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in AMETEK by 2.3% during the fourth 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 purchasing an additional 99,505 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

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Wall Street Analyst Weigh In

AME has been the topic of several recent research reports. Robert W. Baird reduced their price objective on AMETEK from $200.00 to $197.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. StockNews.com raised shares of AMETEK from a "hold" rating to a "buy" rating in a research note on Thursday. Truist Financial upped their price objective on shares of AMETEK from $221.00 to $222.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. 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 report on Thursday, January 16th. Finally, Bank of America upgraded shares of AMETEK from a "neutral" rating to a "buy" rating and upped their price target for the company from $195.00 to $225.00 in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $204.67.

Insiders Place Their Bets

In other 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 value of $125,414.40. Following the completion of the transaction, the director now owns 10,560 shares in the company, valued at $1,865,318.40. This trade represents a 6.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,320 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the completion of the sale, the director now directly owns 22,029 shares in the company, valued at approximately $4,172,512.89. The trade was a 5.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.

AMETEK Trading Down 4.6 %

NYSE AME traded down $7.36 on Friday, hitting $154.13. The company's stock had a trading volume of 844,105 shares, compared to its average volume of 1,237,992. The firm has a market cap of $35.57 billion, a P/E ratio of 26.03, a PEG 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 company's 50-day simple moving average is $181.27 and its 200 day simple moving average is $180.90. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15.

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

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.31 dividend. This is an increase from AMETEK's previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend was Friday, March 14th. AMETEK's dividend payout ratio is presently 20.91%.

AMETEK declared that its board has authorized a share 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 reacquire up to 2.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

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.