AMETEK, Inc. (NYSE:AME) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA reduced its position in AMETEK, Inc. (NYSE:AME - Free Report) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 349,900 shares of the technology company's stock after selling 6,000 shares during the quarter. Primecap Management Co. CA owned about 0.15% of AMETEK worth $63,073,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AME. EdgePoint Investment Group Inc. boosted its holdings in shares of AMETEK by 87.9% in 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 acquiring an additional 918,737 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of AMETEK by 72.0% during the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company's stock worth $288,526,000 after purchasing an additional 703,501 shares during the period. Bryn Mawr Capital Management LLC lifted its holdings in shares of AMETEK by 10,506.5% during the fourth 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 period. D1 Capital Partners L.P. acquired a new stake in shares of AMETEK during the third quarter worth $79,782,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of 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 purchasing an additional 440,197 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several brokerages recently weighed in on AME. Truist Financial increased their price target 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 AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price target for the company in a report on Thursday, January 16th. 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 report on Monday, December 16th. KeyCorp raised their target price on AMETEK from $205.00 to $215.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. Finally, StockNews.com raised AMETEK from a "hold" rating to a "buy" rating in a report on Sunday, March 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $204.67.

Insider Buying and Selling

In related 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 in the company, valued at approximately $4,172,512.89. This trade represents a 5.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by company insiders.

AMETEK Price Performance

Shares of AME stock traded down $1.43 during mid-day trading on Friday, reaching $174.50. The stock had a trading volume of 1,422,601 shares, compared to its average volume of 1,160,636. AMETEK, Inc. has a 12-month low of $149.03 and a 12-month high of $198.33. The company has a market cap of $40.26 billion, a P/E ratio of 29.43, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. The business has a 50-day simple moving average of $182.92 and a 200 day simple moving average of $180.43. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15.

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 for the quarter, beating analysts' consensus estimates 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 quarter last year, the business posted $1.68 earnings per share. The business's revenue for the quarter was up 1.8% on a year-over-year basis. On average, sell-side analysts anticipate 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. Investors of record on Friday, March 14th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Friday, March 14th. This is a boost from AMETEK's previous quarterly dividend of $0.28. AMETEK's dividend payout ratio (DPR) is currently 20.91%.

AMETEK announced that its board has approved a share repurchase program on Friday, February 7th that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the technology company to buy up to 2.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

AMETEK Company 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.