Quantbot Technologies LP Increases Position in AMETEK, Inc. (NYSE:AME)

Quantbot Technologies LP raised its position in AMETEK, Inc. (NYSE:AME - Free Report) by 36.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,513 shares of the technology company's stock after buying an additional 11,261 shares during the period. Quantbot Technologies LP's holdings in AMETEK were worth $7,663,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Semanteon Capital Management LP purchased a new stake in AMETEK in the 4th quarter valued at about $223,000. iA Global Asset Management Inc. increased its stake in AMETEK by 5.1% in the 4th quarter. iA Global Asset Management Inc. now owns 37,476 shares of the technology company's stock valued at $6,755,000 after buying an additional 1,822 shares during the last quarter. Magnetar Financial LLC increased its stake in AMETEK by 19.4% in the 4th quarter. Magnetar Financial LLC now owns 7,798 shares of the technology company's stock valued at $1,406,000 after buying an additional 1,268 shares during the last quarter. Teacher Retirement System of Texas increased its stake in AMETEK by 49.1% in the 4th quarter. Teacher Retirement System of Texas now owns 93,232 shares of the technology company's stock valued at $16,806,000 after buying an additional 30,716 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its stake in AMETEK by 5.1% in the 4th quarter. Royal London Asset Management Ltd. now owns 432,790 shares of the technology company's stock valued at $78,015,000 after buying an additional 21,011 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

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Analysts Set New Price Targets

Several brokerages have recently issued reports on AME. BNP Paribas upgraded shares of AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price target for the company in a research note on Thursday, January 16th. Robert W. Baird decreased their price target on shares of AMETEK from $200.00 to $197.00 and set a "neutral" rating for the company in a research note on Wednesday, February 5th. KeyCorp raised their price target on shares of AMETEK from $205.00 to $215.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. StockNews.com upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a research note on Sunday, March 9th. Finally, Truist Financial raised 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $204.67.

AMETEK Stock Performance

AME stock traded down $2.73 during midday trading on Tuesday, reaching $175.90. 895,219 shares of the company's stock traded hands, compared to its average volume of 1,158,417. The company has a 50-day moving average price of $183.08 and a two-hundred day moving average price of $180.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $198.33. The firm has a market capitalization of $40.57 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, beating analysts' consensus estimates of $1.85 by $0.02. The firm had revenue of $1.76 billion during 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 business's revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.68 EPS. As a group, equities analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given 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 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Friday, March 14th. AMETEK's payout ratio is 20.91%.

AMETEK declared that its board has approved a share repurchase plan on Friday, February 7th that permits the company to buyback $1.25 billion in shares. This buyback authorization permits the technology company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other news, 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 completion of the transaction, the director now directly owns 22,029 shares in the company, valued at $4,172,512.89. The trade was a 5.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.61% of the company's stock.

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.