Norden Group LLC Increases Stake in AMETEK, Inc. (NYSE:AME)

Norden Group LLC raised its stake in shares of AMETEK, Inc. (NYSE:AME) by 12.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,344 shares of the technology company’s stock after acquiring an additional 251 shares during the period. Norden Group LLC’s holdings in AMETEK were worth $423,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp lifted its stake in AMETEK by 0.3% during the 3rd quarter. State Street Corp now owns 9,220,376 shares of the technology company’s stock valued at $1,583,231,000 after acquiring an additional 24,072 shares during the period. JPMorgan Chase & Co. lifted its stake in AMETEK by 3.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company’s stock valued at $1,199,454,000 after acquiring an additional 250,538 shares during the period. Geode Capital Management LLC lifted its stake in AMETEK by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company’s stock valued at $924,308,000 after acquiring an additional 45,459 shares during the period. Bank of New York Mellon Corp lifted its stake in AMETEK by 2.3% during the 4th quarter. Bank of New York Mellon Corp now owns 4,415,508 shares of the technology company’s stock valued at $795,939,000 after acquiring an additional 99,505 shares during the period. Finally, Flossbach Von Storch SE lifted its stake in AMETEK by 2.5% during the 4th quarter. Flossbach Von Storch SE now owns 3,724,352 shares of the technology company’s stock valued at $671,352,000 after acquiring an additional 91,287 shares during the period. Institutional investors own 87.43% of the company’s stock.

AMETEK Trading Down 1.6 %

AMETEK stock opened at $186.31 on Tuesday. The firm has a 50 day moving average of $183.34 and a 200 day moving average of $179.48. The firm has a market capitalization of $42.97 billion, a price-to-earnings ratio of 31.42, a P/E/G ratio of 2.73 and a beta of 1.16. AMETEK, Inc. has a 12-month low of $149.03 and a 12-month high of $198.33. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15.

AMETEK (NYSE:AME) last released its earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.02. The company had revenue of $1.76 billion during 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 firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.68 EPS. As a group, research analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK announced that its Board of Directors has initiated a share repurchase plan on Friday, February 7th that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the technology company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

AMETEK Increases Dividend

The business also recently disclosed 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 a positive change from AMETEK’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Friday, March 14th. AMETEK’s dividend payout ratio (DPR) is 20.91%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AME. Robert W. Baird lowered their target price on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Bank of America upgraded shares of AMETEK from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $195.00 to $225.00 in a research note on Monday, December 16th. 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 note on Thursday, January 16th. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, KeyCorp increased their price objective on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $204.67.

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.