Fmr LLC Boosts Stock Holdings in AMETEK, Inc. (NYSE:AME)

FMR LLC increased its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,956,329 shares of the technology company's stock after acquiring an additional 98,546 shares during the period. FMR LLC owned approximately 3.87% of AMETEK worth $1,614,468,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of AME. Peapack Gladstone Financial Corp raised its position in shares of AMETEK by 0.8% in the fourth quarter. Peapack Gladstone Financial Corp now owns 33,302 shares of the technology company's stock worth $6,003,000 after buying an additional 268 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of AMETEK by 12.7% in the 4th quarter. Russell Investments Group Ltd. now owns 138,038 shares of the technology company's stock valued at $24,892,000 after acquiring an additional 15,606 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its position in shares of AMETEK by 11.0% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 2,190 shares of the technology company's stock valued at $394,000 after acquiring an additional 217 shares during the last quarter. Aviva PLC grew its holdings in shares of AMETEK by 179.1% during the fourth quarter. Aviva PLC now owns 139,476 shares of the technology company's stock worth $25,142,000 after purchasing an additional 89,499 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. bought a new position in shares of AMETEK in the fourth quarter worth approximately $12,092,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

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AMETEK Trading Up 0.8 %

Shares of NYSE:AME traded up $1.28 during trading on Friday, reaching $158.70. 2,007,471 shares of the company traded hands, compared to its average volume of 1,277,065. 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 52-week low of $145.02 and a 52-week high of $198.33. The business's fifty day moving average is $176.72 and its 200-day moving average is $180.09. The firm has a market capitalization of $36.62 billion, a price-to-earnings ratio of 26.76, a P/E/G ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $1.82 billion. During the same quarter in the prior year, the company posted $1.68 EPS. The firm's revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK declared that its board has approved a share buyback plan on Friday, February 7th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the technology company to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

AMETEK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date was Friday, March 14th. This is an increase from AMETEK's previous quarterly dividend of $0.28. AMETEK's payout ratio is currently 20.91%.

Insider Buying and Selling at AMETEK

In other AMETEK news, 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 approximately $4,172,512.89. This represents a 5.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas A. Amato sold 710 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $176.64, for a total transaction of $125,414.40. Following the transaction, the director now owns 10,560 shares in the company, valued at $1,865,318.40. This represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on AME shares. BNP Paribas raised shares of AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price target for the company in a research note on Thursday, January 16th. Truist Financial cut their target price on shares of AMETEK from $216.00 to $196.00 and set a "buy" rating for the company in a research report on Tuesday. Robert W. Baird lowered their price target on AMETEK from $200.00 to $197.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. Bank of America upgraded AMETEK from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $195.00 to $225.00 in a report on Monday, December 16th. Finally, StockNews.com cut AMETEK from a "buy" rating to a "hold" rating in a report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $201.78.

AMETEK 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.