TD Private Client Wealth LLC Cuts Holdings in AMETEK, Inc. (NYSE:AME)

TD Private Client Wealth LLC lessened its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 93.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 770 shares of the technology company's stock after selling 10,159 shares during the period. TD Private Client Wealth LLC's holdings in AMETEK were worth $139,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AME. Itau Unibanco Holding S.A. boosted 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 purchasing an additional 77 shares in the last quarter. Versant Capital Management Inc grew its stake in AMETEK by 3,116.7% in the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company's stock valued at $35,000 after acquiring an additional 187 shares during the period. AdvisorNet Financial Inc increased its holdings in AMETEK by 1,176.5% in the 4th quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company's stock worth $39,000 after acquiring an additional 200 shares in the last quarter. Geneos Wealth Management Inc. raised its position in AMETEK by 42.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company's stock worth $42,000 after acquiring an additional 70 shares during the period. Finally, OFI Invest Asset Management purchased a new position in AMETEK during the fourth quarter valued at $43,000. Institutional investors and hedge funds own 87.43% of the company's stock.

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AMETEK Trading Down 3.0 %

Shares of NYSE AME traded down $5.31 during trading on Friday, hitting $170.25. 1,101,493 shares of the company were exchanged, compared to its average volume of 1,226,605. 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 12-month low of $149.03 and a 12-month high of $198.33. The company has a fifty day moving average price of $182.60 and a 200-day moving average price of $180.92. The firm has a market capitalization of $39.28 billion, a PE ratio of 28.71, a P/E/G ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME - Get Free Report) last posted its 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 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%. AMETEK's revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.68 EPS. As a group, equities research analysts expect that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.31 dividend. This is a positive change from AMETEK's previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 0.73%. The ex-dividend date is Friday, March 14th. AMETEK's payout ratio is 20.91%.

AMETEK declared that its board has approved a stock buyback plan on Friday, February 7th that allows the company to repurchase $1.25 billion in 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 usually an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts recently weighed in on AME shares. Truist Financial upped their price target 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. Robert W. Baird reduced their target price on AMETEK from $200.00 to $197.00 and set a "neutral" rating for the company in a report on Wednesday, February 5th. Bank of America raised AMETEK from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $195.00 to $225.00 in a research note on Monday, December 16th. BNP Paribas raised AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price objective for the company in a research note on Thursday, January 16th. Finally, StockNews.com cut shares of AMETEK from a "buy" rating to a "hold" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $204.67.

Insider Buying and Selling at AMETEK

In related news, Director Thomas A. Amato sold 710 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $176.64, for a total transaction of $125,414.40. Following the transaction, the director now owns 10,560 shares of the company's stock, valued at approximately $1,865,318.40. This represents a 6.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,320 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $189.41, for a total value of $250,021.20. Following the transaction, the director now owns 22,029 shares of the company's stock, valued at $4,172,512.89. This trade represents a 5.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.

AMETEK Company 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.