Bryn Mawr Capital Management LLC Boosts Position in AMETEK, Inc. (NYSE:AME)

Bryn Mawr Capital Management LLC lifted its position in AMETEK, Inc. (NYSE:AME) by 10,506.5% in the fourth quarter, HoldingsChannel reports. The firm owned 476,442 shares of the technology company’s stock after buying an additional 471,950 shares during the period. Bryn Mawr Capital Management LLC’s holdings in AMETEK were worth $812,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AME. Itau Unibanco Holding S.A. boosted its holdings in AMETEK by 62.6% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock valued at $34,000 after purchasing an additional 77 shares during the last quarter. Versant Capital Management Inc raised its position 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 buying an additional 187 shares during the period. AdvisorNet Financial Inc lifted its holdings in AMETEK by 1,176.5% in the fourth quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock valued at $39,000 after acquiring an additional 200 shares during the last quarter. Geneos Wealth Management Inc. grew its position in AMETEK by 42.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock worth $42,000 after acquiring an additional 70 shares during the period. Finally, Princeton Global Asset Management LLC acquired a new stake in AMETEK during the third quarter worth $44,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Trading Down 0.1 %

Shares of AME stock opened at $188.76 on Friday. AMETEK, Inc. has a fifty-two week low of $149.03 and a fifty-two week high of $198.33. The company has a 50 day moving average price of $182.97 and a 200 day moving average price of $177.77. The stock has a market capitalization of $43.66 billion, a P/E ratio of 31.83, a price-to-earnings-growth ratio of 2.70 and a beta of 1.16. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.85 by $0.02. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter last year, the company posted $1.68 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. Equities research analysts predict that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

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

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.31 per share. This is an increase 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 yield of 0.66%. AMETEK’s dividend payout ratio is 20.91%.

Insider Buying and Selling at AMETEK

In other news, insider Emanuela Speranza sold 6,747 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the completion of the transaction, the insider now directly owns 30,460 shares of the company’s stock, valued at approximately $5,967,114. The trade was a 18.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on AME. BNP Paribas raised AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target on the stock in a research note on Thursday, January 16th. KeyCorp upped their target price on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Robert W. Baird dropped their price target on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Mizuho boosted their price target on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Truist Financial increased their price objective on shares of AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $204.67.

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.