Martin Investment Management LLC Sells 6,226 Shares of AMETEK, Inc. (NYSE:AME)

by · The Markets Daily

Martin Investment Management LLC lessened its holdings in shares of AMETEK, Inc. (NYSE:AME – Free Report) by 14.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,565 shares of the technology company’s stock after selling 6,226 shares during the period. AMETEK comprises 1.8% of Martin Investment Management LLC’s holdings, making the stock its 20th largest holding. Martin Investment Management LLC’s holdings in AMETEK were worth $6,591,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in AMETEK by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 26,147,772 shares of the technology company’s stock worth $4,713,397,000 after purchasing an additional 282,208 shares in the last quarter. State Street Corp raised its holdings in AMETEK by 0.3% during the 3rd quarter. State Street Corp now owns 9,220,376 shares of the technology company’s stock worth $1,583,231,000 after purchasing an additional 24,072 shares during the last quarter. JPMorgan Chase & Co. raised its stake in AMETEK by 3.7% during the third quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company’s stock worth $1,199,454,000 after buying an additional 250,538 shares during the last quarter. Geode Capital Management LLC boosted its position in AMETEK by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 5,526,369 shares of the technology company’s stock valued at $993,546,000 after acquiring an additional 124,713 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of AMETEK by 2.3% in the 4th quarter. Bank of New York Mellon Corp now owns 4,415,508 shares of the technology company’s stock worth $795,939,000 after acquiring an additional 99,505 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

Insider Buying and Selling at AMETEK

In related news, Director Thomas A. Amato sold 710 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $176.64, for a total transaction of $125,414.40. Following the transaction, the director now owns 10,560 shares in the company, valued at $1,865,318.40. The trade was a 6.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven W. Kohlhagen sold 1,320 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was 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 of the company’s stock, valued at approximately $4,172,512.89. This trade represents a 5.65 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

AMETEK Stock Performance

NYSE AME opened at $171.96 on Wednesday. The company’s 50 day simple moving average is $182.17 and its two-hundred day simple moving average is $181.09. The stock has a market capitalization of $39.68 billion, a PE ratio of 29.00, a P/E/G ratio of 2.73 and a beta of 1.14. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75. AMETEK, Inc. has a 1 year low of $149.03 and a 1 year high of $198.33.

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

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

AMETEK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.24 annualized dividend and a yield of 0.72%. This is a boost from AMETEK’s previous quarterly dividend of $0.28. AMETEK’s dividend payout ratio is presently 20.91%.

Analyst Ratings Changes

Several equities research analysts have weighed in on AME shares. Bank of America raised shares of AMETEK from a “neutral” rating to a “buy” rating and lifted their price target for the company from $195.00 to $225.00 in a research note on Monday, December 16th. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Truist Financial raised their target price on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a report on Thursday, January 16th. BNP Paribas raised shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target on the stock in a research report on Thursday, January 16th. Finally, Robert W. Baird cut their target price on AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $204.67.

Read Our Latest Report on AMETEK

AMETEK Company 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.

See Also

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