Intrust Bank NA Purchases 527 Shares of AMETEK, Inc. (NYSE:AME)

Intrust Bank NA increased its holdings in shares of AMETEK, Inc. (NYSE:AME) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,999 shares of the technology company’s stock after acquiring an additional 527 shares during the period. Intrust Bank NA’s holdings in AMETEK were worth $2,523,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Allstate Corp acquired a new position in AMETEK during the 4th quarter valued at about $1,243,000. DnB Asset Management AS lifted its position in AMETEK by 0.9% in the 4th quarter. DnB Asset Management AS now owns 127,344 shares of the technology company’s stock valued at $22,955,000 after acquiring an additional 1,087 shares in the last quarter. Level Four Advisory Services LLC boosted its position in shares of AMETEK by 3.1% during the fourth quarter. Level Four Advisory Services LLC now owns 2,624 shares of the technology company’s stock worth $473,000 after buying an additional 80 shares during the period. Norges Bank bought a new position in shares of AMETEK during the 4th quarter worth approximately $697,080,000. Finally, Caisse Des Depots ET Consignations bought a new position in AMETEK in the fourth quarter valued at $342,000. 87.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of the 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 completion of the sale, the director now directly owns 22,029 shares of the company’s stock, valued at approximately $4,172,512.89. This represents a 5.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas A. Amato sold 710 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the completion of the sale, the director now directly owns 10,560 shares of the company’s stock, valued at $1,865,318.40. The trade was a 6.30 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AME shares. Robert W. Baird lowered their price target on 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 increased their price target on AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research report 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 report on Thursday, January 16th. Bank of America raised shares of AMETEK from a “neutral” rating to a “buy” rating and increased their target price for the stock from $195.00 to $225.00 in a report on Monday, December 16th. Finally, StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $204.67.

AMETEK Trading Down 3.0 %

AME opened at $170.25 on Friday. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $198.33. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average of $182.60 and a 200-day moving average of $180.80. The stock has a market cap of $39.28 billion, a PE ratio of 28.71, a PEG ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.02. The firm had revenue of $1.76 billion during 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 company’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.68 earnings per share. Equities research analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK declared that its board has authorized a stock repurchase program on Friday, February 7th that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.31 dividend. The ex-dividend date is Friday, March 14th. This is an increase from AMETEK’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a yield of 0.73%. AMETEK’s dividend payout ratio (DPR) is currently 20.91%.

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.