Capital International Sarl Acquires 4,222 Shares of AMETEK, Inc. (NYSE:AME)

by · The Cerbat Gem

Capital International Sarl increased its stake in AMETEK, Inc. (NYSE:AME – Free Report) by 7.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,007 shares of the technology company’s stock after acquiring an additional 4,222 shares during the quarter. Capital International Sarl’s holdings in AMETEK were worth $11,177,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc increased its stake in AMETEK by 3,116.7% in the fourth quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock valued at $35,000 after purchasing an additional 187 shares in the last quarter. AdvisorNet Financial Inc increased its position in AMETEK by 1,176.5% in the 4th quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock valued at $39,000 after buying an additional 200 shares in the last quarter. Geneos Wealth Management Inc. increased its position in AMETEK by 42.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock valued at $42,000 after buying an additional 70 shares in the last quarter. OFI Invest Asset Management acquired a new position in AMETEK during the 4th quarter worth approximately $43,000. Finally, Anchor Investment Management LLC grew its stake in AMETEK by 366.1% in the third quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock valued at $45,000 after acquiring an additional 205 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Morgan Stanley initiated coverage on AMETEK in a research report on Monday. They set an “equal weight” rating and a $170.00 target price on the stock. BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective on the stock in a report on Thursday, January 16th. Truist Financial reduced their price objective on shares of AMETEK from $216.00 to $196.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Friday, April 11th. Finally, Robert W. Baird cut their price target on AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AMETEK has a consensus rating of “Moderate Buy” and a consensus price target of $198.60.

Read Our Latest Report on AME

AMETEK Stock Performance

Shares of AME opened at $157.66 on Friday. The stock has a 50 day moving average of $174.83 and a 200 day moving average of $179.69. 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, Inc. has a 12 month low of $145.02 and a 12 month high of $198.33. The company has a market capitalization of $36.38 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME – Get Free Report) last released its earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.82 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.68 EPS. As a group, sell-side analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.31 per share. 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 0.79%. The ex-dividend date of this dividend was Friday, March 14th. AMETEK’s dividend payout ratio is currently 20.91%.

AMETEK declared that its Board of Directors has authorized a share repurchase program on Friday, February 7th that allows the company to buyback $1.25 billion in shares. This buyback authorization allows the technology company to buy up to 2.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other AMETEK news, Director Thomas A. Amato sold 710 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the completion of the sale, the director now directly owns 10,560 shares of the company’s stock, valued at $1,865,318.40. This trade represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven W. Kohlhagen sold 1,320 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 22,029 shares in the company, valued at approximately $4,172,512.89. The trade was a 5.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.

AMETEK Profile

(Free Report)

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.

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