AMETEK, Inc. (NYSE:AME) Shares Sold by Davis R M Inc.

Davis R M Inc. cut its position in AMETEK, Inc. (NYSE:AME) by 0.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 329,492 shares of the technology company’s stock after selling 718 shares during the period. AMETEK makes up 1.2% of Davis R M Inc.’s portfolio, making the stock its 26th largest position. Davis R M Inc.’s holdings in AMETEK were worth $59,394,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AME. Itau Unibanco Holding S.A. boosted its stake in AMETEK by 62.6% during the third quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock worth $34,000 after buying an additional 77 shares during the last quarter. Versant Capital Management Inc boosted its stake in AMETEK by 3,116.7% during the fourth quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock worth $35,000 after buying an additional 187 shares during the last quarter. AdvisorNet Financial Inc boosted its stake in AMETEK by 1,176.5% during the fourth quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock worth $39,000 after buying an additional 200 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in AMETEK by 42.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock worth $42,000 after buying an additional 70 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new position in AMETEK during the fourth quarter worth $43,000. 87.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total transaction of $250,021.20. Following the completion of the transaction, the director now directly owns 22,029 shares of the company’s stock, valued at $4,172,512.89. The trade was a 5.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AME shares. Robert W. Baird reduced their target price on AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. KeyCorp lifted their target price on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a research report on Sunday. Bank of America upgraded AMETEK from a “neutral” rating to a “buy” rating and lifted their target price for the company from $195.00 to $225.00 in a research report on Monday, December 16th. Finally, Truist Financial lifted their target price on AMETEK from $221.00 to $222.00 and gave the company 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AMETEK currently has an average rating of “Moderate Buy” and a consensus target price of $204.67.

AMETEK Price Performance

AME stock opened at $179.38 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $41.37 billion, a PE ratio of 30.25, a P/E/G ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a 12-month low of $149.03 and a 12-month high of $198.33. The business’s fifty day moving average price is $183.35 and its 200 day moving average price is $180.13.

AMETEK (NYSE:AME) last released its earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.85 by $0.02. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the firm posted $1.68 EPS. AMETEK’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, sell-side analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK declared that its board has approved a stock buyback program 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 programs are generally a sign that the company’s board of directors believes its stock is undervalued.

AMETEK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 0.69%. This is a boost from AMETEK’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, March 14th. AMETEK’s payout ratio is presently 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.