3,828 Shares in AMETEK, Inc. (NYSE:AME) Bought by SRN Advisors LLC

SRN Advisors LLC purchased a new stake in shares of AMETEK, Inc. (NYSE:AME) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,828 shares of the technology company’s stock, valued at approximately $690,000.

A number of other large investors have also recently bought and sold shares of the business. State Street Corp boosted its position in shares of AMETEK by 0.3% during the 3rd quarter. State Street Corp now owns 9,220,376 shares of the technology company’s stock valued at $1,583,231,000 after purchasing an additional 24,072 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of AMETEK by 3.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company’s stock worth $1,199,454,000 after buying an additional 250,538 shares in the last quarter. Geode Capital Management LLC grew its position in shares of AMETEK by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company’s stock worth $924,308,000 after buying an additional 45,459 shares during the period. Bank of New York Mellon Corp increased its stake in shares of AMETEK by 2.3% in the 4th quarter. Bank of New York Mellon Corp now owns 4,415,508 shares of the technology company’s stock valued at $795,939,000 after acquiring an additional 99,505 shares in the last quarter. Finally, Flossbach Von Storch SE lifted its position in shares of AMETEK by 2.5% during the 4th quarter. Flossbach Von Storch SE now owns 3,724,352 shares of the technology company’s stock valued at $671,352,000 after acquiring an additional 91,287 shares during the period. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on AME. KeyCorp lifted their price target 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. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. BNP Paribas raised 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. Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and raised their price objective for the company from $195.00 to $225.00 in a research note on Monday, December 16th. Finally, Truist Financial upped their target price on AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $204.67.

AMETEK Trading Up 0.6 %

Shares of AMETEK stock opened at $188.12 on Thursday. The company has a market capitalization of $43.51 billion, a P/E ratio of 31.72, a price-to-earnings-growth ratio of 2.73 and a beta of 1.16. The stock has a fifty day simple moving average of $183.03 and a 200 day simple moving average of $178.81. 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 0.75 and a debt-to-equity ratio of 0.15.

AMETEK (NYSE:AME) last posted its earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share (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 firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the business posted $1.68 EPS. The business’s revenue was up 1.8% compared to the same quarter last year. On average, sell-side analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Increases Dividend

The company also recently announced 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 is Friday, March 14th. This represents a $1.24 annualized dividend and a dividend yield of 0.66%. This is a boost from AMETEK’s previous quarterly dividend of $0.28. AMETEK’s dividend payout ratio (DPR) is currently 18.89%.

AMETEK announced that its Board of Directors has approved a share buyback plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

AMETEK Company 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.