ExodusPoint Capital Management LP Has $9.81 Million Stake in AMETEK, Inc. (NYSE:AME)

ExodusPoint Capital Management LP increased its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 76.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,429 shares of the technology company's stock after purchasing an additional 23,532 shares during the period. ExodusPoint Capital Management LP's holdings in AMETEK were worth $9,811,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AME. Principal Financial Group Inc. lifted its position in AMETEK by 72.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company's stock valued at $288,526,000 after purchasing an additional 703,501 shares during the period. Public Sector Pension Investment Board boosted its stake in AMETEK by 12.3% in the third quarter. Public Sector Pension Investment Board now owns 10,067 shares of the technology company's stock valued at $1,729,000 after acquiring an additional 1,100 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in AMETEK by 76.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 4,814 shares of the technology company's stock worth $829,000 after acquiring an additional 2,082 shares during the period. Janus Henderson Group PLC raised its position in shares of AMETEK by 1.7% during the 3rd quarter. Janus Henderson Group PLC now owns 264,913 shares of the technology company's stock valued at $45,486,000 after acquiring an additional 4,352 shares during the last quarter. Finally, Investment Management Corp of Ontario lifted its stake in shares of AMETEK by 45.9% in the 3rd quarter. Investment Management Corp of Ontario now owns 7,626 shares of the technology company's stock valued at $1,309,000 after purchasing an additional 2,400 shares during the period. Institutional investors and hedge funds own 87.43% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms have weighed in on AME. BNP Paribas upgraded 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. Truist Financial reduced their price target on AMETEK from $216.00 to $196.00 and set a "buy" rating for the company in a research report on Tuesday. Bank of America raised shares of AMETEK from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $195.00 to $225.00 in a research report on Monday, December 16th. StockNews.com raised shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Thursday, April 3rd. Finally, Robert W. Baird reduced their price objective on shares of AMETEK from $200.00 to $197.00 and set a "neutral" rating for the company in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $201.78.

AMETEK Price Performance

Shares of NYSE AME traded down $5.54 during mid-day trading on Thursday, reaching $155.46. The company had a trading volume of 434,627 shares, compared to its average volume of 1,268,066. AMETEK, Inc. has a one year low of $145.02 and a one year high of $198.33. The business's 50-day simple moving average is $177.70 and its 200 day simple moving average is $180.27. 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 firm has a market cap of $35.87 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME - Get Free Report) last released 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. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The firm had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.82 billion. During the same quarter in the previous year, the business posted $1.68 earnings per share. The business's revenue for the quarter was up 1.8% on a year-over-year basis. On average, research analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Increases Dividend

The company 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 is a positive change from AMETEK's previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend was Friday, March 14th. AMETEK's dividend payout ratio is currently 20.91%.

AMETEK declared that its Board of Directors has authorized a stock repurchase plan on Friday, February 7th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total transaction of $250,021.20. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas A. Amato sold 710 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The shares were 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 directly owns 10,560 shares in the company, valued at approximately $1,865,318.40. This trade represents a 6.30 % 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 corporate insiders.

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.