AMETEK, Inc. (NYSE:AME) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its holdings in shares of AMETEK, Inc. (NYSE:AME) by 2.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,111 shares of the technology company’s stock after selling 961 shares during the quarter. Amalgamated Bank’s holdings in AMETEK were worth $8,132,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. increased its position in shares of AMETEK by 62.6% in the third quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock worth $34,000 after acquiring an additional 77 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of AMETEK by 3,116.7% during the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock valued at $35,000 after acquiring an additional 187 shares in the last quarter. AdvisorNet Financial Inc boosted its position in AMETEK by 1,176.5% during the 4th quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock worth $39,000 after purchasing an additional 200 shares during the period. Geneos Wealth Management Inc. increased its holdings in AMETEK by 42.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock valued at $42,000 after purchasing an additional 70 shares in the last quarter. Finally, Princeton Global Asset Management LLC purchased a new position in AMETEK in the third quarter valued at about $44,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AME. BNP Paribas raised AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price for the company in a research report on Thursday, January 16th. KeyCorp upped their price target on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. 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. Robert W. Baird decreased their target price on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Finally, Mizuho raised their price target on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $204.67.

AMETEK Trading Up 0.6 %

AME opened at $188.12 on Thursday. The stock has a market capitalization of $43.51 billion, a PE ratio of 31.72, a P/E/G ratio of 2.73 and a beta of 1.16. 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, Inc. has a 12-month low of $149.03 and a 12-month high of $198.33. The firm’s fifty day moving average price is $183.03 and its 200 day moving average price is $178.81.

AMETEK (NYSE:AME) last issued its earnings results 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 analyst estimates of $1.82 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.68 EPS. As a group, research analysts expect that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

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 given a $0.31 dividend. This is a positive change from AMETEK’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, March 14th. This represents a $1.24 annualized dividend and a dividend yield of 0.66%. AMETEK’s dividend payout ratio (DPR) is presently 18.89%.

AMETEK declared that its Board of Directors has initiated a stock buyback program on Friday, February 7th that permits the company to buyback $1.25 billion in outstanding shares. This buyback authorization permits the technology company to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

AMETEK 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.