Cibc World Markets Corp Purchases 5,126 Shares of AMETEK, Inc. (NYSE:AME)

Cibc World Markets Corp boosted its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 16.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,507 shares of the technology company's stock after buying an additional 5,126 shares during the period. Cibc World Markets Corp's holdings in AMETEK were worth $6,581,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc boosted its holdings 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 purchasing an additional 187 shares in the last quarter. Itau Unibanco Holding S.A. boosted its stake in AMETEK by 62.6% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company's stock valued at $34,000 after buying an additional 77 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in 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 buying an additional 200 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in AMETEK by 42.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company's stock valued at $42,000 after buying an additional 70 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in AMETEK in the 4th quarter valued at $43,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

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AMETEK Trading Down 0.8 %

Shares of AME traded down $1.43 during trading hours on Friday, hitting $174.50. 1,422,601 shares of the stock traded hands, compared to its average volume of 1,160,636. 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, Inc. has a 1-year low of $149.03 and a 1-year high of $198.33. The firm has a market capitalization of $40.26 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. The business has a fifty day moving average of $182.92 and a 200-day moving average of $180.43.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.02. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the business posted $1.68 earnings per share. AMETEK's revenue was up 1.8% compared to the same quarter last year. Analysts expect that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK declared that its Board of Directors has authorized a share repurchase program on Friday, February 7th that permits the company to buyback $1.25 billion in outstanding shares. This buyback authorization permits the technology company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

AMETEK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from AMETEK's previous quarterly dividend of $0.28. AMETEK's dividend payout ratio is currently 20.91%.

Insiders Place Their Bets

In related news, Director Steven W. Kohlhagen sold 1,320 shares of AMETEK stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $189.41, for a total transaction of $250,021.20. Following the transaction, the director now owns 22,029 shares of the company's stock, valued at $4,172,512.89. This trade represents a 5.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.61% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on AME. Bank of America upgraded shares of AMETEK from a "neutral" rating to a "buy" rating and boosted their target price for the company from $195.00 to $225.00 in a research note on Monday, December 16th. KeyCorp boosted their price target on shares of AMETEK from $205.00 to $215.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. BNP Paribas raised AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 target price on the stock in a report on Thursday, January 16th. Robert W. Baird reduced their target price on AMETEK from $200.00 to $197.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. Finally, Truist Financial boosted their target price on AMETEK from $221.00 to $222.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AMETEK has an average rating of "Moderate Buy" and a consensus target price 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.