Russell Investments Group Ltd. Has $24.89 Million Holdings in AMETEK, Inc. (NYSE:AME)

Russell Investments Group Ltd. lifted its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 12.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,038 shares of the technology company's stock after acquiring an additional 15,606 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.06% of AMETEK worth $24,892,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of AMETEK by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 26,147,772 shares of the technology company's stock worth $4,713,397,000 after purchasing an additional 282,208 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in AMETEK by 3.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company's stock worth $1,199,454,000 after acquiring an additional 250,538 shares during the last quarter. Geode Capital Management LLC increased its position in AMETEK by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 5,526,369 shares of the technology company's stock valued at $993,546,000 after acquiring an additional 124,713 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of AMETEK by 2.3% in the fourth quarter. Bank of New York Mellon Corp now owns 4,415,508 shares of the technology company's stock worth $795,939,000 after acquiring an additional 99,505 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of AMETEK during the fourth quarter worth approximately $697,080,000. 87.43% of the stock is currently owned by institutional investors.

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Insider Transactions at AMETEK

In other AMETEK news, Director Thomas A. Amato sold 710 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the completion of the transaction, the director now directly owns 10,560 shares in the company, valued at $1,865,318.40. This trade represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven W. Kohlhagen sold 1,320 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the sale, the director now owns 22,029 shares in the company, valued at approximately $4,172,512.89. This represents a 5.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.57% of the company's stock.

Analyst Upgrades and Downgrades

AME has been the subject of several research analyst reports. Truist Financial dropped their price objective on shares of AMETEK from $216.00 to $196.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. StockNews.com lowered AMETEK from a "buy" rating to a "hold" rating in a research report on Friday. BNP Paribas upgraded shares of AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 target price on the stock in a research report on Thursday, January 16th. Bank of America raised shares of AMETEK from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $195.00 to $225.00 in a research note on Monday, December 16th. Finally, Morgan Stanley assumed coverage on shares of AMETEK in a research note on Monday. They issued an "equal weight" rating and a $170.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $198.60.

AMETEK Stock Up 1.9 %

Shares of NYSE AME traded up $2.98 during mid-day trading on Monday, reaching $161.93. 192,293 shares of the company's stock were exchanged, compared to its average volume of 1,428,869. AMETEK, Inc. has a twelve month low of $145.02 and a twelve month high of $198.33. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $37.36 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 2.73 and a beta of 1.14. The business has a fifty day simple moving average of $176.72 and a 200 day simple moving average of $180.15.

AMETEK (NYSE:AME - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.82 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The business's quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.68 earnings per share. As a group, equities analysts expect that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK announced that its board has authorized a share 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 stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

AMETEK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.31 per share. The ex-dividend date was Friday, March 14th. This is a boost from AMETEK's previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 0.77%. AMETEK's payout ratio is 20.91%.

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.