AMETEK, Inc. (NYSE:AME) Shares Purchased by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,761,312 shares of the technology company's stock after purchasing an additional 53,363 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.76% of AMETEK worth $317,494,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AME. Oddo BHF Asset Management Sas acquired a new position in AMETEK during the third quarter worth about $3,724,000. National Bank of Canada FI boosted its holdings in shares of AMETEK by 17.4% during the 4th quarter. National Bank of Canada FI now owns 142,093 shares of the technology company's stock worth $25,616,000 after purchasing an additional 21,009 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in shares of AMETEK in the fourth quarter valued at approximately $999,000. Czech National Bank increased its holdings in shares of AMETEK by 6.3% in the fourth quarter. Czech National Bank now owns 50,153 shares of the technology company's stock valued at $9,041,000 after purchasing an additional 2,987 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in AMETEK by 434.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company's stock worth $97,614,000 after buying an additional 440,197 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AME shares. Robert W. Baird cut their target price on 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 cut their price objective on shares of AMETEK from $216.00 to $196.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Morgan Stanley assumed coverage on shares of AMETEK in a report on Monday, April 14th. They issued an "equal weight" rating and a $170.00 target price on the stock. 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 report on Thursday, January 16th. Finally, StockNews.com lowered AMETEK from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, AMETEK presently has an average rating of "Moderate Buy" and a consensus price target of $198.60.

Insider Buying and Selling at AMETEK

In other news, Director Thomas A. Amato sold 710 shares of AMETEK stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total transaction of $125,414.40. Following the completion of the sale, the director now directly owns 10,560 shares of the company's stock, valued at approximately $1,865,318.40. The trade was a 6.30 % decrease in their position. The transaction 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 the 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 $4,172,512.89. This trade represents a 5.65 % decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

AMETEK Trading Up 3.3 %

NYSE:AME traded up $5.29 on Thursday, reaching $167.48. 1,253,439 shares of the company's stock were exchanged, compared to its average volume of 1,293,725. The business has a fifty day moving average of $172.74 and a 200-day moving average of $179.41. The company has a quick ratio of 0.75, a current ratio of 1.24 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 firm has a market capitalization of $38.65 billion, a price-to-earnings ratio of 28.24, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME - Get Free Report) last released its earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the business earned $1.68 EPS. The firm's quarterly revenue was up 1.8% on a year-over-year basis. As a group, analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.31 per share. This is an increase from AMETEK's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.24 annualized dividend and a yield of 0.74%. AMETEK's dividend payout ratio is 20.91%.

AMETEK declared that its Board of Directors has initiated a share buyback plan on Friday, February 7th that allows the company to repurchase $1.25 billion in 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 typically a sign that the company's leadership believes its stock is undervalued.

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.