Elo Mutual Pension Insurance Co Raises Stock Holdings in AMETEK, Inc. (NYSE:AME)

Elo Mutual Pension Insurance Co raised its position in AMETEK, Inc. (NYSE:AME) by 10.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,626 shares of the technology company’s stock after acquiring an additional 2,193 shares during the period. Elo Mutual Pension Insurance Co’s holdings in AMETEK were worth $4,079,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its stake in AMETEK by 72.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock worth $288,526,000 after acquiring an additional 703,501 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of AMETEK by 276.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,990 shares of the technology company’s stock valued at $342,000 after acquiring an additional 1,462 shares during the period. Private Trust Co. NA increased its position in shares of AMETEK by 23.6% in the third quarter. Private Trust Co. NA now owns 1,668 shares of the technology company’s stock valued at $286,000 after buying an additional 318 shares in the last quarter. D.A. Davidson & CO. raised its position in AMETEK by 2.9% during the third quarter. D.A. Davidson & CO. now owns 3,526 shares of the technology company’s stock worth $606,000 after acquiring an additional 99 shares during the period. Finally, Townsquare Capital LLC raised its position in shares of AMETEK by 9.3% during the 3rd quarter. Townsquare Capital LLC now owns 35,678 shares of the technology company’s stock worth $6,126,000 after purchasing an additional 3,041 shares during the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Thomas A. Amato sold 710 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $176.64, for a total transaction of $125,414.40. Following the completion of the sale, the director now owns 10,560 shares of the company’s stock, valued at $1,865,318.40. This represents a 6.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,320 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were 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 of the company’s stock, valued at $4,172,512.89. This trade represents a 5.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

AME has been the subject of several research reports. Truist Financial upped their price objective 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. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Wednesday. Bank of America upgraded AMETEK from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $195.00 to $225.00 in a report on Monday, December 16th. BNP Paribas raised shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target for the company in a research report on Thursday, January 16th. Finally, Robert W. Baird lowered their price objective on AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $204.67.

AMETEK Stock Down 3.0 %

Shares of NYSE AME opened at $170.25 on Friday. The stock has a market capitalization of $39.28 billion, a PE ratio of 28.71, a P/E/G ratio of 2.73 and a beta of 1.14. 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 firm has a fifty day moving average of $182.60 and a 200-day moving average of $180.80. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week high of $198.33.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the company posted $1.68 earnings per share. AMETEK’s revenue was up 1.8% compared to the same quarter last year. On average, analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK declared that its Board of Directors has approved 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 purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

AMETEK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.31 dividend. This is a boost 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%. The ex-dividend date is Friday, March 14th. AMETEK’s dividend payout ratio is presently 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.