AMETEK, Inc. (NYSE:AME) Shares Sold by PGGM Investments

PGGM Investments lowered its position in AMETEK, Inc. (NYSE:AME - Free Report) by 83.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,237 shares of the technology company's stock after selling 26,525 shares during the period. PGGM Investments' holdings in AMETEK were worth $944,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc grew its holdings in AMETEK by 3,116.7% during the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company's stock valued at $35,000 after buying an additional 187 shares during the last quarter. Itau Unibanco Holding S.A. grew its holdings in AMETEK by 62.6% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company's stock valued at $34,000 after buying an additional 77 shares during the last quarter. AdvisorNet Financial Inc lifted its stake in shares of AMETEK by 1,176.5% during the 4th quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company's stock worth $39,000 after purchasing an additional 200 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of AMETEK by 42.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company's stock worth $42,000 after purchasing an additional 70 shares during the period. Finally, OFI Invest Asset Management purchased a new position in shares of AMETEK during the 4th quarter worth $43,000. Institutional investors and hedge funds own 87.43% of the company's stock.

AMETEK Stock Down 1.5 %

NYSE AME traded down $2.73 during trading hours on Tuesday, hitting $175.90. The company had a trading volume of 895,219 shares, compared to its average volume of 1,340,534. AMETEK, Inc. has a fifty-two week low of $149.03 and a fifty-two week high of $198.33. The company has a market capitalization of $40.57 billion, a price-to-earnings ratio of 29.66, a P/E/G ratio of 2.73 and a beta of 1.14. 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's 50 day moving average is $183.08 and its 200 day moving average is $180.42.

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AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the firm earned $1.68 EPS. The firm's quarterly revenue was up 1.8% compared to the same quarter last year. Sell-side analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.31 dividend. This is an increase from AMETEK's previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 0.70%. The ex-dividend date is Friday, March 14th. AMETEK's dividend payout ratio is currently 20.91%.

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

Analyst Upgrades and Downgrades

AME has been the topic of a number of recent analyst reports. StockNews.com raised AMETEK from a "hold" rating to a "buy" rating in a research note on Sunday, March 9th. Bank of America raised AMETEK from a "neutral" rating to a "buy" rating and increased their price target for the stock from $195.00 to $225.00 in a research note on Monday, December 16th. BNP Paribas raised 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 increased their price target on AMETEK from $221.00 to $222.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Finally, Robert W. Baird reduced their price target on AMETEK from $200.00 to $197.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $204.67.

Insider Activity at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,320 shares of the firm's 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 directly owns 22,029 shares in the company, valued at $4,172,512.89. This trade represents a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is 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.