Intech Investment Management LLC Sells 23,750 Shares of AMETEK, Inc. (NYSE:AME)

Intech Investment Management LLC lowered its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 72.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,897 shares of the technology company's stock after selling 23,750 shares during the quarter. Intech Investment Management LLC's holdings in AMETEK were worth $1,604,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Generali Asset Management SPA SGR purchased a new position in AMETEK in the fourth quarter worth $6,393,000. Kensington Investment Counsel LLC increased its holdings in AMETEK by 0.5% during the fourth quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company's stock worth $2,574,000 after buying an additional 66 shares during the last quarter. Mystic Asset Management Inc. bought a new stake in AMETEK in the fourth quarter worth about $1,171,000. Axxcess Wealth Management LLC boosted its stake in AMETEK by 18.8% in the fourth quarter. Axxcess Wealth Management LLC now owns 1,715 shares of the technology company's stock valued at $309,000 after acquiring an additional 271 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of AMETEK by 4.6% during the 4th quarter. Signaturefd LLC now owns 4,558 shares of the technology company's stock valued at $822,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 87.43% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AME. Bank of America raised AMETEK from a "neutral" rating to a "buy" rating and increased their price objective for the company from $195.00 to $225.00 in a report on Monday, December 16th. Truist Financial lifted their price objective on AMETEK from $221.00 to $222.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. BNP Paribas raised 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. StockNews.com upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a research note on Sunday, March 9th. Finally, Robert W. Baird dropped their price target 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. One investment 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 stock. Based on data from MarketBeat, AMETEK has a consensus rating of "Moderate Buy" and an average target price of $204.67.

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AMETEK Price Performance

NYSE:AME traded down $2.80 during trading hours on Wednesday, hitting $176.90. The stock had a trading volume of 933,795 shares, compared to its average volume of 1,164,090. The firm has a market capitalization of $40.82 billion, a price-to-earnings ratio of 29.83, a P/E/G ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a one year low of $149.03 and a one year high of $198.33. The company has a 50 day simple moving average of $182.98 and a two-hundred day simple moving average of $180.83. 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 (NYSE:AME - Get Free Report) last posted its earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.85 by $0.02. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The business had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.82 billion. During the same period in the previous year, the business earned $1.68 earnings per share. The firm's revenue was up 1.8% on a year-over-year basis. Research analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Increases Dividend

The business 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 dividend of $0.31 per share. The ex-dividend date is Friday, March 14th. This represents a $1.24 annualized dividend and a dividend yield of 0.70%. This is a boost from AMETEK's previous quarterly dividend of $0.28. AMETEK's dividend payout ratio (DPR) is 20.91%.

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

Insider Transactions at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of AMETEK stock in a transaction dated 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. The trade was a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.61% of the stock is currently owned by insiders.

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.