Vinva Investment Management Ltd Invests $891,000 in AMETEK, Inc. (NYSE:AME)

Vinva Investment Management Ltd purchased a new stake in AMETEK, Inc. (NYSE:AME - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,927 shares of the technology company's stock, valued at approximately $891,000.

Other large investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its stake in AMETEK by 4.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company's stock valued at $261,000 after acquiring an additional 63 shares during the period. Kensington Investment Counsel LLC lifted its holdings in shares of AMETEK by 0.5% during the 4th quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company's stock valued at $2,574,000 after purchasing an additional 66 shares in the last quarter. AlphaMark Advisors LLC grew its position in shares of AMETEK by 2.1% in the 4th quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company's stock valued at $604,000 after purchasing an additional 70 shares during the period. Geneos Wealth Management Inc. increased its stake in AMETEK by 42.9% during 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 in the last quarter. Finally, Quotient Wealth Partners LLC raised its holdings in AMETEK by 3.9% during the 4th quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company's stock worth $332,000 after buying an additional 70 shares during the period. Institutional investors own 87.43% of the company's stock.

Remove Ads

AMETEK Stock Up 2.6 %

NYSE AME traded up $4.47 during trading hours on Monday, hitting $178.99. 1,676,547 shares of the company traded hands, compared to its average volume of 1,163,200. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24. The business's 50-day moving average is $182.97 and its 200-day moving average is $180.71. The stock has a market capitalization of $41.30 billion, a price-to-earnings ratio of 30.18, a P/E/G ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33.

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

AMETEK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 is a positive change from AMETEK's previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 0.69%. AMETEK's payout ratio is currently 20.91%.

AMETEK declared that its Board of Directors has approved a stock buyback program on Friday, February 7th that allows the company to buyback $1.25 billion in shares. This buyback authorization allows the technology company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have recently weighed in on AME. Robert W. Baird reduced their price target on shares of 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 shares of AMETEK from a "neutral" rating to a "buy" rating and upped their target price for the stock from $195.00 to $225.00 in a research note on Monday, December 16th. StockNews.com raised AMETEK from a "hold" rating to a "buy" rating in a research note on Sunday, March 9th. Truist Financial boosted their price target on AMETEK from $221.00 to $222.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Finally, BNP Paribas upgraded AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price objective for the company in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $204.67.

Insider Activity

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of the business's stock in a transaction that occurred on 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is 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.