358,162 Shares in AMETEK, Inc. (NYSE:AME) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position 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 (SEC). The firm purchased 358,162 shares of the technology company's stock, valued at approximately $64,562,000. Raymond James Financial Inc. owned approximately 0.15% of AMETEK at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc boosted its holdings in shares of AMETEK by 3,116.7% during the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company's stock worth $35,000 after purchasing an additional 187 shares during the last quarter. Itau Unibanco Holding S.A. lifted its position in AMETEK by 62.6% during the third quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company's stock worth $34,000 after buying an additional 77 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in AMETEK by 1,176.5% during the fourth quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company's stock worth $39,000 after buying an additional 200 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in AMETEK by 42.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company's stock valued at $42,000 after buying an additional 70 shares in the last quarter. Finally, Quent Capital LLC increased its stake in shares of AMETEK by 60.9% in the 4th quarter. Quent Capital LLC now owns 251 shares of the technology company's stock worth $45,000 after acquiring an additional 95 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In other AMETEK 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 value 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. This represents a 5.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.61% of the company's stock.

AMETEK Trading Down 2.6 %

Shares of NYSE AME traded down $4.67 during trading on Thursday, reaching $172.54. The stock had a trading volume of 1,721,265 shares, compared to its average volume of 1,363,497. The business's 50-day moving average price is $183.15 and its 200-day moving average price is $180.14. AMETEK, Inc. has a fifty-two week low of $149.03 and a fifty-two week high of $198.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24. The company has a market cap of $39.80 billion, a P/E ratio of 29.10, a PEG ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME - Get Free Report) last released its earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.85 by $0.02. The company 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 firm's quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.68 EPS. On average, equities research analysts predict that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

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

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.31 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a yield of 0.72%. This is a positive change from AMETEK's previous quarterly dividend of $0.28. AMETEK's dividend payout ratio (DPR) is currently 20.91%.

Analysts Set New Price Targets

AME has been the subject of a number of analyst reports. KeyCorp upped their price objective on shares of AMETEK from $205.00 to $215.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. BNP Paribas raised 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. StockNews.com raised shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Sunday. Truist Financial increased their price objective on AMETEK from $221.00 to $222.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Finally, Bank of America upgraded AMETEK from a "neutral" rating to a "buy" rating and lifted their target price for the company from $195.00 to $225.00 in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $204.67.

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.