AlphaQuest LLC Raises Stock Holdings in AMETEK, Inc. (NYSE:AME)

AlphaQuest LLC raised its position in shares of AMETEK, Inc. (NYSE:AME) by 228.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,032 shares of the technology company’s stock after acquiring an additional 4,893 shares during the period. AlphaQuest LLC’s holdings in AMETEK were worth $1,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of AME. EdgePoint Investment Group Inc. raised its holdings in shares of AMETEK by 87.9% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock worth $337,279,000 after acquiring an additional 918,737 shares in the last quarter. Principal Financial Group Inc. raised its holdings in AMETEK by 72.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after buying an additional 703,501 shares during the period. Bryn Mawr Capital Management LLC raised its holdings in AMETEK by 10,506.5% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 476,442 shares of the technology company’s stock valued at $812,000 after buying an additional 471,950 shares during the period. D1 Capital Partners L.P. purchased a new stake in AMETEK during the 3rd quarter valued at $79,782,000. Finally, Assenagon Asset Management S.A. raised its holdings in AMETEK by 434.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company’s stock valued at $97,614,000 after buying an additional 440,197 shares during the period. 87.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,320 shares of AMETEK stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the transaction, the director now directly owns 22,029 shares in the company, valued at approximately $4,172,512.89. This trade represents a 5.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on AME shares. Bank of America upgraded AMETEK from a “neutral” rating to a “buy” rating and increased their price target for the company from $195.00 to $225.00 in a report on Monday, December 16th. KeyCorp increased their price target on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Robert W. Baird decreased their price target on AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Truist Financial boosted 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. One 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, AMETEK presently has an average rating of “Moderate Buy” and an average target price of $204.67.

AMETEK Trading Down 0.0 %

AME opened at $184.12 on Monday. The stock’s fifty day moving average is $183.38 and its two-hundred day moving average is $180.03. The company has a market capitalization of $42.47 billion, a P/E ratio of 31.05, a PEG ratio of 2.73 and a beta of 1.14. 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.

AMETEK (NYSE:AME) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.85 by $0.02. The company 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%. AMETEK’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the business posted $1.68 EPS. Analysts forecast 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 buyback plan on Friday, February 7th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.31 dividend. The ex-dividend date of this dividend 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 dividend yield of 0.67%. AMETEK’s dividend payout ratio (DPR) is currently 20.91%.

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.