Skandinaviska Enskilda Banken AB publ Reduces Holdings in AMETEK, Inc. (NYSE:AME)

Skandinaviska Enskilda Banken AB publ cut its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 9.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,249 shares of the technology company's stock after selling 4,800 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in AMETEK were worth $8,178,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. EdgePoint Investment Group Inc. increased its position in shares of AMETEK by 87.9% during 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 buying an additional 918,737 shares during the period. Principal Financial Group Inc. increased its holdings in AMETEK by 72.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company's stock worth $288,526,000 after acquiring an additional 703,501 shares during the period. Bryn Mawr Capital Management LLC lifted its stake in AMETEK by 10,506.5% in the 4th 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 in the last quarter. D1 Capital Partners L.P. purchased a new stake in AMETEK in the 3rd quarter worth approximately $79,782,000. Finally, Assenagon Asset Management S.A. boosted its holdings in AMETEK by 434.5% in 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 purchasing an additional 440,197 shares during the period. Institutional investors own 87.43% of the company's stock.

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AMETEK Trading Up 0.6 %

Shares of NYSE:AME traded up $1.14 on Wednesday, reaching $177.22. 1,052,140 shares of the company traded hands, compared to its average volume of 1,159,694. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week 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 business's 50-day simple moving average is $183.02 and its 200 day simple moving average is $180.46. The stock has a market capitalization of $40.88 billion, a P/E ratio of 29.89, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $1.82 billion. During the same period in the previous year, the firm earned $1.68 EPS. The business's quarterly revenue was up 1.8% on a year-over-year basis. As a group, equities analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Increases Dividend

The company also recently disclosed 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. This is a boost from AMETEK's previous quarterly dividend of $0.28. The ex-dividend date is Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.70%. AMETEK's payout ratio is presently 20.91%.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AME shares. Robert W. Baird lowered their price objective on AMETEK from $200.00 to $197.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. BNP Paribas upgraded AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price target for the company in a research report on Thursday, January 16th. Truist Financial upped their price objective on shares of AMETEK from $221.00 to $222.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. KeyCorp raised their target price on shares of AMETEK from $205.00 to $215.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. Finally, 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AMETEK presently has a consensus rating of "Moderate Buy" and a consensus target price of $204.67.

Insider Activity

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the business's 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.61% 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.