AMETEK, Inc. (NYSE:AME) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 215.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 327,050 shares of the technology company's stock after purchasing an additional 223,400 shares during the quarter. Renaissance Technologies LLC owned approximately 0.14% of AMETEK worth $58,954,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Oddo BHF Asset Management Sas bought a new stake in AMETEK in the 3rd quarter valued at $3,724,000. Everence Capital Management Inc. bought a new position in AMETEK during the fourth quarter valued at approximately $999,000. Czech National Bank grew its holdings in AMETEK by 6.3% during 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 in the last quarter. National Bank of Canada FI raised its holdings in shares of AMETEK by 17.4% during the 4th quarter. National Bank of Canada FI now owns 142,093 shares of the technology company's stock worth $25,616,000 after acquiring an additional 21,009 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position 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 valued at $97,614,000 after acquiring an additional 440,197 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AME shares. Bank of America raised shares of AMETEK from a "neutral" rating to a "buy" rating and upped their price target for the company from $195.00 to $225.00 in a research note on Monday, December 16th. StockNews.com downgraded shares of AMETEK from a "buy" rating to a "hold" rating in a report on Friday. BNP Paribas raised AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price objective on the stock in a research note on Thursday, January 16th. Truist Financial lowered their price objective on AMETEK from $216.00 to $196.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Robert W. Baird cut their target price on AMETEK from $200.00 to $197.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $198.60.

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AMETEK Trading Down 0.1 %

AMETEK stock traded down $0.10 during trading hours on Tuesday, hitting $161.26. The company had a trading volume of 159,924 shares, compared to its average volume of 1,273,883. The firm has a market cap of $37.21 billion, a P/E ratio of 27.19, a P/E/G ratio of 2.73 and a beta of 1.14. The company has a 50-day moving average price of $176.35 and a two-hundred day moving average price of $180.07. AMETEK, Inc. has a 1 year low of $145.02 and a 1 year 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.

AMETEK (NYSE:AME - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 earnings per share 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 previous year, the company posted $1.68 earnings per share. The firm's quarterly revenue 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 announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a yield of 0.77%. This is a positive change from AMETEK's previous quarterly dividend of $0.28. AMETEK's dividend payout ratio is currently 20.91%.

AMETEK declared that its Board of Directors has approved a stock buyback plan on Friday, February 7th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the technology company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the business's 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 transaction, the director now 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 legal filing with the SEC, which is available through this link. Also, Director Thomas A. Amato sold 710 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total transaction of $125,414.40. Following the sale, the director now directly owns 10,560 shares of the company's stock, valued at $1,865,318.40. The trade was a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.57% of the company's stock.

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.