Buckhead Capital Management LLC Sells 96 Shares of AMETEK, Inc. (NYSE:AME)

Buckhead Capital Management LLC cut its position in AMETEK, Inc. (NYSE:AME) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,765 shares of the technology company’s stock after selling 96 shares during the period. Buckhead Capital Management LLC’s holdings in AMETEK were worth $4,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oddo BHF Asset Management Sas purchased a new stake in AMETEK in the 3rd quarter worth $3,724,000. Everence Capital Management Inc. purchased a new stake in shares of AMETEK during the fourth quarter worth about $999,000. BNP Paribas Financial Markets raised its stake in AMETEK by 23.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 355,828 shares of the technology company’s stock valued at $61,099,000 after purchasing an additional 67,025 shares during the period. Czech National Bank raised its stake in AMETEK by 6.3% during the 4th quarter. Czech National Bank now owns 50,153 shares of the technology company’s stock valued at $9,041,000 after purchasing an additional 2,987 shares during the period. Finally, Taurus Asset Management LLC lifted its holdings in AMETEK by 2.9% in the 3rd quarter. Taurus Asset Management LLC now owns 115,033 shares of the technology company’s stock worth $19,752,000 after purchasing an additional 3,210 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors.

AMETEK Stock Down 0.5 %

Shares of NYSE:AME opened at $184.57 on Friday. The company has a market cap of $42.69 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 2.68 and a beta of 1.16. AMETEK, Inc. has a 12 month low of $149.03 and a 12 month high of $198.33. The company has a current ratio of 1.24, a quick ratio of 0.84 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $183.54 and a 200 day moving average price of $177.11.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.82 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.68 earnings per share. As a group, equities research analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK declared that its Board of Directors has approved a stock buyback plan on Friday, February 7th that allows the company to repurchase $1.25 billion in outstanding 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 often a sign that the company’s leadership believes its stock is undervalued.

AMETEK Increases Dividend

The company also recently disclosed 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. This is a boost from AMETEK’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a yield of 0.67%. AMETEK’s payout ratio is 18.89%.

Insider Activity

In related news, insider Tony J. Ciampitti sold 16,210 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the transaction, the insider now directly owns 49,490 shares in the company, valued at approximately $9,750,024.90. This represents a 24.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Emanuela Speranza sold 6,747 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the completion of the sale, the insider now directly owns 30,460 shares in the company, valued at $5,967,114. This trade represents a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

AME has been the topic of several recent analyst reports. Robert W. Baird reduced their price objective on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Truist Financial raised their target price on shares of AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target on the stock in a research note on Thursday, January 16th. Mizuho raised their price objective on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, KeyCorp boosted their target price on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AMETEK has a consensus rating of “Moderate Buy” and a consensus target price 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.