Mystic Asset Management Inc. Acquires Shares of 6,494 AMETEK, Inc. (NYSE:AME)

Mystic Asset Management Inc. acquired a new stake in AMETEK, Inc. (NYSE:AME - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,494 shares of the technology company's stock, valued at approximately $1,171,000.

Other institutional investors also recently bought and sold shares of the company. Oddo BHF Asset Management Sas acquired a new position in AMETEK in the 3rd quarter valued at $3,724,000. Everence Capital Management Inc. acquired a new position in AMETEK in the 4th quarter valued at $999,000. Czech National Bank increased its stake in AMETEK by 6.3% in the 4th quarter. Czech National Bank now owns 50,153 shares of the technology company's stock valued at $9,041,000 after buying an additional 2,987 shares during the period. BNP Paribas Financial Markets grew its stake in shares of AMETEK by 23.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 355,828 shares of the technology company's stock worth $61,099,000 after purchasing an additional 67,025 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of AMETEK by 434.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company's stock worth $97,614,000 after purchasing an additional 440,197 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of AMETEK from a "hold" rating to a "buy" rating in a research note on Sunday, March 9th. Robert W. Baird lowered 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. 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 upped their price target 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. Finally, KeyCorp increased their price objective on shares of AMETEK from $205.00 to $215.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AMETEK has a consensus rating of "Moderate Buy" and a consensus target price of $204.67.

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Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 22,029 shares of the company's stock, valued at approximately $4,172,512.89. This represents a 5.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.61% of the company's stock.

AMETEK Trading Down 0.8 %

Shares of AME stock traded down $1.43 during trading hours on Friday, hitting $174.50. 1,422,601 shares of the company were exchanged, compared to its average volume of 1,160,636. The firm has a market cap of $40.26 billion, a PE ratio of 29.43, a PEG ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a 1 year low of $149.03 and a 1 year high of $198.33. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average of $182.92 and a 200 day moving average of $180.43.

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 for the quarter, topping the consensus estimate of $1.85 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.82 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The company's revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.68 EPS. Analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current 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 issued a dividend of $0.31 per share. This is a positive change from AMETEK's previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Friday, March 14th. AMETEK's dividend payout ratio is presently 20.91%.

AMETEK announced that its board has initiated a share buyback program on Friday, February 7th that allows the company to buyback $1.25 billion in shares. This buyback authorization allows the technology company to buy up to 2.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board 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.