Geode Capital Management LLC raised its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 2.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,526,369 shares of the technology company's stock after purchasing an additional 124,713 shares during the period. Geode Capital Management LLC owned 2.39% of AMETEK worth $993,546,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. Oddo BHF Asset Management Sas purchased a new stake in AMETEK during the 3rd quarter valued at about $3,724,000. Everence Capital Management Inc. acquired a new position in AMETEK during the fourth quarter worth $999,000. Czech National Bank increased its stake in shares of AMETEK by 6.3% in the 4th 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. Assenagon Asset Management S.A. raised its holdings in AMETEK by 434.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company's stock valued at $97,614,000 after buying an additional 440,197 shares during the period. Finally, Dudley & Shanley Inc. lifted its holdings in shares of AMETEK by 11.3% in the 3rd quarter. Dudley & Shanley Inc. now owns 139,434 shares of the technology company's stock worth $23,942,000 after acquiring an additional 14,105 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company's stock.
AMETEK Stock Performance
Shares of AME stock traded down $1.72 during mid-day trading on Monday, hitting $150.94. 802,300 shares of the stock were exchanged, compared to its average volume of 1,246,874. The stock has a market capitalization of $34.83 billion, a price-to-earnings ratio of 25.35, a P/E/G ratio of 2.73 and a beta of 1.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24. AMETEK, Inc. has a 12-month low of $145.53 and a 12-month high of $198.33. The stock's fifty day simple moving average is $180.56 and its two-hundred day simple moving average is $180.95.
AMETEK (NYSE:AME - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS 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 firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the firm earned $1.68 EPS. AMETEK's revenue for the quarter was up 1.8% on a year-over-year basis. On average, analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current year.
AMETEK declared that its board has authorized a share buyback program on Friday, February 7th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the technology company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.
AMETEK Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from AMETEK's previous quarterly dividend of $0.28. AMETEK's dividend payout ratio (DPR) is 20.91%.
Insider Activity
In other AMETEK news, Director Thomas A. Amato sold 710 shares of the company's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $176.64, for a total value of $125,414.40. Following the sale, the director now owns 10,560 shares of the company's stock, valued at $1,865,318.40. This represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven W. Kohlhagen sold 1,320 shares of AMETEK stock in a transaction that occurred 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 transaction, the director now owns 22,029 shares of the company's stock, valued at $4,172,512.89. This represents a 5.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.57% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on AME shares. BNP Paribas raised AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 target price on the stock in a research note on Thursday, January 16th. Robert W. Baird lowered 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. Truist Financial upped their target price 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. StockNews.com raised shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Thursday. Finally, Bank of America raised 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 research report on Monday, December 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 assigned a strong buy rating to the company. According to data from MarketBeat, AMETEK currently has a consensus rating of "Moderate Buy" and a consensus target price of $204.67.
Check Out Our Latest Stock Analysis on AME
AMETEK Company Profile
(
Free Report)
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.
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