Impact Capital Partners LLC Acquires New Holdings in AMETEK, Inc. (NYSE:AME)

Impact Capital Partners LLC bought a new stake in AMETEK, Inc. (NYSE:AME - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,457 shares of the technology company's stock, valued at approximately $263,000.

Several other institutional investors have also modified their holdings of the stock. Principal Financial Group Inc. lifted its stake in shares of AMETEK by 72.0% in the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company's stock worth $288,526,000 after buying an additional 703,501 shares in the last quarter. Axxcess Wealth Management LLC purchased a new position in shares of AMETEK in the third quarter worth about $248,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of AMETEK by 1.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 506,696 shares of the technology company's stock worth $87,005,000 after buying an additional 5,375 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of AMETEK by 6.5% in the third quarter. Victory Capital Management Inc. now owns 162,161 shares of the technology company's stock worth $27,845,000 after buying an additional 9,928 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of AMETEK by 1.1% in the third quarter. KBC Group NV now owns 156,603 shares of the technology company's stock worth $26,891,000 after buying an additional 1,763 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Bank of America raised shares of AMETEK from a "neutral" rating to a "buy" rating and raised their price target for the stock from $195.00 to $225.00 in a research note on Monday, December 16th. BNP Paribas raised shares of AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price target on the stock in a research note on Thursday, January 16th. Truist Financial lifted 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. Robert W. Baird reduced their target price on shares of AMETEK from $200.00 to $197.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. Finally, StockNews.com raised shares of AMETEK from a "hold" rating to a "buy" rating in a research note on Sunday, March 9th. One equities 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $204.67.

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Insider Transactions at AMETEK

In other 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 transaction of $250,021.20. Following the transaction, the director now directly owns 22,029 shares of the company's stock, valued at $4,172,512.89. This represents a 5.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.61% of the company's stock.

AMETEK Stock Performance

AME stock traded up $1.14 on Wednesday, hitting $177.22. The company's stock had a trading volume of 1,052,140 shares, compared to its average volume of 1,334,989. The firm has a 50 day moving average of $183.02 and a two-hundred day moving average of $180.46. AMETEK, Inc. has a 1 year low of $149.03 and a 1 year high of $198.33. The stock has a market cap of $40.88 billion, a price-to-earnings ratio of 29.89, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. 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 data 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 the consensus estimate of $1.82 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. AMETEK's quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.68 EPS. Equities 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 will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.31 per share. The ex-dividend date is Friday, March 14th. This is a boost from AMETEK's previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.70%. AMETEK's dividend payout ratio is 20.91%.

AMETEK announced that its Board of Directors has approved a share buyback plan on Friday, February 7th that allows the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its shares are undervalued.

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.