Versor Investments LP Purchases New Position in AMETEK, Inc. (NYSE:AME)

Versor Investments LP purchased a new stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,842 shares of the technology company's stock, valued at approximately $1,053,000.

Several other hedge funds have also recently added to or reduced their stakes in AME. Allworth Financial LP boosted its stake in AMETEK by 131.4% in the third quarter. Allworth Financial LP now owns 1,060 shares of the technology company's stock worth $182,000 after buying an additional 602 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of AMETEK by 21.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,538 shares of the technology company's stock valued at $2,329,000 after purchasing an additional 2,435 shares during the last quarter. Fidelis Capital Partners LLC raised its position in AMETEK by 6.4% in the 3rd quarter. Fidelis Capital Partners LLC now owns 1,734 shares of the technology company's stock worth $289,000 after purchasing an additional 105 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in AMETEK in the third quarter worth $167,000. Finally, First Trust Direct Indexing L.P. grew its stake in shares of AMETEK by 28.4% during the third quarter. First Trust Direct Indexing L.P. now owns 8,781 shares of the technology company's stock valued at $1,508,000 after buying an additional 1,941 shares during the last quarter. Institutional investors own 87.43% of the company's stock.

AMETEK Stock Down 1.6 %

AME traded down $2.99 on Monday, hitting $186.31. The company had a trading volume of 1,108,155 shares, compared to its average volume of 1,319,707. The stock has a fifty day simple moving average of $183.25 and a 200-day simple moving average of $179.31. 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 firm has a market capitalization of $42.97 billion, a P/E ratio of 31.42, a P/E/G ratio of 2.73 and a beta of 1.16. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week high of $198.33.

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. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the company posted $1.68 earnings per share. The firm's revenue was up 1.8% on a year-over-year basis. 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 approved a share repurchase program on Friday, February 7th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, March 14th. AMETEK's payout ratio is currently 20.91%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AME. Robert W. Baird dropped 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. StockNews.com cut shares of AMETEK from a "buy" rating to a "hold" rating in a report on Saturday. Truist Financial upped their price target on shares of AMETEK from $221.00 to $222.00 and gave the company a "buy" rating in a report on Thursday, January 16th. BNP Paribas raised shares of AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price target on the stock in a report on Thursday, January 16th. Finally, KeyCorp upped their price objective 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $204.67.

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.