Tredje AP fonden Decreases Position in AMETEK, Inc. (NYSE:AME)

Tredje AP fonden lowered its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 50.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,144 shares of the technology company's stock after selling 18,143 shares during the quarter. Tredje AP fonden's holdings in AMETEK were worth $3,271,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of AME. Principal Financial Group Inc. boosted its position in shares of AMETEK by 72.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company's stock valued at $288,526,000 after acquiring an additional 703,501 shares during the last quarter. Axxcess Wealth Management LLC bought a new stake in shares of AMETEK during the 3rd quarter valued at about $248,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of AMETEK by 1.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 506,696 shares of the technology company's stock valued at $87,005,000 after acquiring an additional 5,375 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of AMETEK by 6.5% during the 3rd quarter. Victory Capital Management Inc. now owns 162,161 shares of the technology company's stock valued at $27,845,000 after acquiring an additional 9,928 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of AMETEK by 1.1% during the 3rd quarter. KBC Group NV now owns 156,603 shares of the technology company's stock valued at $26,891,000 after acquiring an additional 1,763 shares during the last quarter. Institutional investors own 87.43% of the company's stock.

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AMETEK Trading Down 1.5 %

AMETEK stock traded down $2.73 during trading hours on Tuesday, reaching $175.90. The company had a trading volume of 895,219 shares, compared to its average volume of 1,158,417. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75. The company has a 50-day moving average price of $183.08 and a 200 day moving average price of $180.42. The firm has a market cap of $40.57 billion, a price-to-earnings ratio of 29.66, a P/E/G ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a 12-month low of $149.03 and a 12-month high of $198.33.

AMETEK (NYSE:AME - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.85 by $0.02. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the business posted $1.68 earnings per share. AMETEK's quarterly revenue was up 1.8% compared to the same quarter last year. Equities analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid 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 0.70%. This is a positive change from AMETEK's previous quarterly dividend of $0.28. AMETEK's payout ratio is presently 20.91%.

AMETEK declared that its Board of Directors has initiated a stock repurchase program on Friday, February 7th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the technology company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently issued reports on AME shares. Bank of America upgraded AMETEK from a "neutral" rating to a "buy" rating and lifted their price target for the company from $195.00 to $225.00 in a research report on Monday, December 16th. Truist Financial raised their price objective on AMETEK from $221.00 to $222.00 and gave the company a "buy" rating in a report on Thursday, January 16th. KeyCorp raised their price objective on AMETEK from $205.00 to $215.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. BNP Paribas raised AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price objective on the stock in a report on Thursday, January 16th. Finally, StockNews.com raised AMETEK from a "hold" rating to a "buy" rating in a report on Sunday, March 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $204.67.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the business's 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 owns 22,029 shares of the company's stock, valued at $4,172,512.89. The trade was a 5.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.61% of the stock is currently owned by insiders.

About AMETEK

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.