Cibc World Markets Corp Acquires 5,126 Shares of AMETEK, Inc. (NYSE:AME)

Cibc World Markets Corp increased its holdings in AMETEK, Inc. (NYSE:AME) by 16.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,507 shares of the technology company’s stock after buying an additional 5,126 shares during the period. Cibc World Markets Corp’s holdings in AMETEK were worth $6,581,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Principal Financial Group Inc. lifted its stake in shares of AMETEK by 72.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock worth $288,526,000 after purchasing an additional 703,501 shares during the last quarter. Empowered Funds LLC lifted its position in shares of AMETEK by 24.6% during the third quarter. Empowered Funds LLC now owns 12,348 shares of the technology company’s stock valued at $2,120,000 after buying an additional 2,440 shares during the last quarter. Natixis Advisors LLC grew its position in shares of AMETEK by 1.9% in the 3rd quarter. Natixis Advisors LLC now owns 110,625 shares of the technology company’s stock worth $18,996,000 after buying an additional 2,059 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in shares of AMETEK by 5.4% during the 3rd quarter. Mutual of America Capital Management LLC now owns 39,845 shares of the technology company’s stock worth $6,842,000 after acquiring an additional 2,033 shares in the last quarter. Finally, Swiss National Bank lifted its position in AMETEK by 0.4% during the third quarter. Swiss National Bank now owns 687,025 shares of the technology company’s stock valued at $117,969,000 after acquiring an additional 2,500 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the completion of the transaction, the director now owns 22,029 shares of the company’s stock, valued at approximately $4,172,512.89. This represents a 5.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AME. KeyCorp upped their price target on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. BNP Paribas upgraded AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target for the company in a research note on Thursday, January 16th. Robert W. Baird dropped their price target on AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Truist Financial increased their price objective on shares of AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Sunday, March 9th. One 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 given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $204.67.

AMETEK Trading Down 1.5 %

Shares of AMETEK stock opened at $175.90 on Wednesday. The stock has a market cap of $40.57 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. The firm has a fifty day moving average price of $183.02 and a 200 day moving average price of $180.46. AMETEK, Inc. has a 1 year low of $149.03 and a 1 year high of $198.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75.

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 the consensus estimate of $1.85 by $0.02. The business 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 for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.68 EPS. 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 initiated a share repurchase plan on Friday, February 7th that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the technology company to buy up to 2.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

AMETEK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 0.70%. This is a positive change from AMETEK’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, March 14th. AMETEK’s payout ratio is 20.91%.

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.