TIAA Trust National Association Sells 1,574 Shares of AMETEK, Inc. (NYSE:AME)

TIAA Trust National Association lowered its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,706 shares of the technology company's stock after selling 1,574 shares during the period. TIAA Trust National Association's holdings in AMETEK were worth $6,076,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. boosted its holdings in shares of AMETEK by 62.6% in the 3rd 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 during the last quarter. Versant Capital Management Inc grew its position 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 valued at $35,000 after acquiring an additional 187 shares during the period. AdvisorNet Financial Inc increased its stake in shares of AMETEK by 1,176.5% during the 4th quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company's stock worth $39,000 after purchasing an additional 200 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of AMETEK by 42.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company's stock worth $42,000 after purchasing an additional 70 shares during the period. Finally, OFI Invest Asset Management bought a new stake in shares of AMETEK in the fourth quarter valued at $43,000. Institutional investors own 87.43% of the company's stock.

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Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AME. Bank of America upgraded shares of AMETEK from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $195.00 to $225.00 in a research note on Monday, December 16th. StockNews.com lowered shares of AMETEK from a "buy" rating to a "hold" rating in a research note on Wednesday. Truist Financial raised their price target on AMETEK from $221.00 to $222.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. BNP Paribas upgraded 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. Finally, Robert W. Baird cut their target price on AMETEK from $200.00 to $197.00 and set a "neutral" rating for the company in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AMETEK has a consensus rating of "Moderate Buy" and a consensus target price of $204.67.

AMETEK Trading Down 3.0 %

NYSE:AME traded down $5.31 during trading hours on Friday, reaching $170.25. The company's stock had a trading volume of 1,101,493 shares, compared to its average volume of 1,226,605. The firm has a 50-day simple moving average of $182.60 and a 200-day simple moving average of $180.92. 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 1 year low of $149.03 and a 1 year high of $198.33. The firm has a market capitalization of $39.28 billion, a price-to-earnings ratio of 28.71, 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 for the quarter, beating 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 company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the company posted $1.68 EPS. AMETEK's revenue for the quarter was up 1.8% on a year-over-year basis. Research analysts expect that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK announced that its board has authorized a stock buyback plan on Friday, February 7th that permits the company to buyback $1.25 billion in outstanding shares. This buyback authorization permits the technology company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.

AMETEK Increases Dividend

The company 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 dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.24 annualized dividend and a yield of 0.73%. This is a boost from AMETEK's previous quarterly dividend of $0.28. AMETEK's dividend payout ratio is presently 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.