Independent Advisor Alliance Acquires Shares of 2,387 AMETEK, Inc. (NYSE:AME)

Independent Advisor Alliance acquired a new stake in AMETEK, Inc. (NYSE:AME - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,387 shares of the technology company's stock, valued at approximately $430,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. State Street Corp boosted its stake in AMETEK by 0.3% in the third quarter. State Street Corp now owns 9,220,376 shares of the technology company's stock valued at $1,583,231,000 after acquiring an additional 24,072 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in AMETEK by 3.7% in the third quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company's stock worth $1,199,454,000 after purchasing an additional 250,538 shares during the period. Geode Capital Management LLC raised its holdings in AMETEK by 0.8% in the third quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company's stock worth $924,308,000 after purchasing an additional 45,459 shares during the period. Bank of New York Mellon Corp raised its holdings in AMETEK by 2.3% in the fourth quarter. Bank of New York Mellon Corp now owns 4,415,508 shares of the technology company's stock worth $795,939,000 after purchasing an additional 99,505 shares during the period. Finally, Flossbach Von Storch SE raised its holdings in AMETEK by 2.5% in the fourth quarter. Flossbach Von Storch SE now owns 3,724,352 shares of the technology company's stock worth $671,352,000 after purchasing an additional 91,287 shares during the period. 87.43% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Robert W. Baird cut their target price on shares of AMETEK from $200.00 to $197.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. Truist Financial raised their price objective on shares of AMETEK from $221.00 to $222.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. BNP Paribas upgraded shares of AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price objective on the stock in a report on Thursday, January 16th. KeyCorp raised their price objective on shares of AMETEK from $205.00 to $215.00 and gave the stock an "overweight" rating in a report on Friday, November 22nd. Finally, Bank of America upgraded shares of AMETEK from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $195.00 to $225.00 in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $204.67.

AMETEK Stock Down 0.8 %

AME stock traded down $1.43 during midday trading on Friday, hitting $174.50. The company's stock had a trading volume of 1,421,949 shares, compared to its average volume of 1,160,432. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33. The company's fifty day moving average price is $182.96 and its 200 day moving average price is $180.41. The stock has a market capitalization of $40.26 billion, a P/E ratio of 29.43, a PEG ratio of 2.73 and a beta of 1.14.

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, beating analysts' consensus estimates of $1.85 by $0.02. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the firm posted $1.68 EPS. The company's quarterly revenue was up 1.8% on a year-over-year basis. As a group, equities research analysts predict that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend 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 (DPR) is 20.91%.

AMETEK announced that its Board of Directors has approved a stock repurchase program on Friday, February 7th that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Insider Activity

In related news, Director Steven W. Kohlhagen sold 1,320 shares of AMETEK stock in a transaction dated Monday, March 3rd. The shares were 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 approximately $4,172,512.89. The trade was a 5.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.61% of the company's stock.

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.