AMETEK, Inc. (NYSE:AME) Shares Sold by Martin Investment Management LLC

Martin Investment Management LLC decreased its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 14.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,565 shares of the technology company's stock after selling 6,226 shares during the period. AMETEK comprises 1.8% of Martin Investment Management LLC's portfolio, making the stock its 20th largest holding. Martin Investment Management LLC's holdings in AMETEK were worth $6,591,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in AMETEK in the 4th quarter worth approximately $697,080,000. EdgePoint Investment Group Inc. boosted its holdings in AMETEK by 87.9% during the third quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company's stock valued at $337,279,000 after purchasing an additional 918,737 shares in the last quarter. American Century Companies Inc. lifted its holdings in AMETEK by 240.3% during the 4th quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company's stock valued at $202,805,000 after purchasing an additional 794,473 shares during the last quarter. Principal Financial Group Inc. raised its position in AMETEK by 72.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company's stock valued at $288,526,000 after purchasing an additional 703,501 shares during the last quarter. Finally, Bryn Mawr Capital Management LLC raised its position in AMETEK by 10,506.5% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 476,442 shares of the technology company's stock worth $812,000 after purchasing an additional 471,950 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

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Insider Transactions at AMETEK

In related news, Director Thomas A. Amato sold 710 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at approximately $1,865,318.40. This trade represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven W. Kohlhagen sold 1,320 shares of the business'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 sale, the director now directly 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 disclosure for this sale can be found here. Insiders own 0.57% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Truist Financial lifted their price objective 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 upgraded AMETEK from a "hold" rating to a "buy" rating in a report on Thursday. Bank of America raised shares of AMETEK from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $195.00 to $225.00 in a research report on Monday, December 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. Finally, Robert W. Baird reduced their target price on shares of AMETEK from $200.00 to $197.00 and set a "neutral" rating for the company in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AMETEK has an average rating of "Moderate Buy" and a consensus price target of $204.67.

AMETEK Stock Performance

Shares of AMETEK stock traded down $3.13 during trading hours on Monday, reaching $149.53. The company had a trading volume of 855,810 shares, compared to its average volume of 1,247,059. AMETEK, Inc. has a one year low of $145.53 and a one year high of $198.33. The business has a fifty day simple moving average of $180.56 and a 200 day simple moving average of $180.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75. The firm has a market cap of $34.50 billion, a PE ratio of 25.20, a price-to-earnings-growth 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 earnings per share (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 analysts' expectations of $1.82 billion. During the same quarter in the prior year, the company earned $1.68 EPS. The firm's revenue was up 1.8% on a year-over-year basis. On average, analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK announced that its Board of Directors has initiated a share repurchase plan on Friday, February 7th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 2.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.

AMETEK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 0.83%. This is a positive change from AMETEK's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, March 14th. AMETEK's dividend payout ratio (DPR) is presently 20.91%.

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.