AMETEK, Inc. (NYSE:AME) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in AMETEK, Inc. (NYSE:AME) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 155,808 shares of the technology company’s stock after selling 395 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in AMETEK were worth $27,785,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AME. MassMutual Private Wealth & Trust FSB lifted its position in AMETEK by 4.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company’s stock valued at $261,000 after acquiring an additional 63 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of 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 purchasing an additional 70 shares during the last quarter. AlphaMark Advisors LLC boosted its position in shares of AMETEK by 2.1% in the 4th quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company’s stock valued at $604,000 after purchasing an additional 70 shares during the period. Quotient Wealth Partners LLC grew its stake in AMETEK by 3.9% during the 4th quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company’s stock worth $332,000 after buying an additional 70 shares during the last quarter. Finally, Wallace Advisory Group LLC increased its position in AMETEK by 5.8% during the fourth quarter. Wallace Advisory Group LLC now owns 1,371 shares of the technology company’s stock worth $235,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AME shares. Truist Financial raised their target price 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. StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Thursday. Robert W. Baird decreased their target price on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. BNP Paribas upgraded 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, KeyCorp increased their price objective on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $204.67.

AMETEK Trading Down 0.5 %

Shares of AME stock opened at $183.42 on Friday. The business’s fifty day moving average price is $183.19 and its 200 day moving average price is $177.24. The firm has a market capitalization of $42.43 billion, a PE ratio of 30.93, a P/E/G ratio of 2.68 and a beta of 1.16. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.84. AMETEK, Inc. has a 1-year low of $149.03 and a 1-year high of $198.33.

AMETEK (NYSE:AME) last posted its quarterly 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. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the prior year, the company posted $1.68 EPS. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, sell-side analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.31 per share. This is a positive change from AMETEK’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.24 annualized dividend and a dividend yield of 0.68%. AMETEK’s payout ratio is 20.91%.

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

Insider Buying and Selling

In other news, insider Tony J. Ciampitti sold 16,210 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total value of $3,193,532.10. Following the completion of the transaction, the insider now owns 49,490 shares in the company, valued at $9,750,024.90. This trade represents a 24.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 sale, the insider now owns 30,460 shares in the company, valued at $5,967,114. This represents a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

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.