Cumberland Partners Ltd Buys Shares of 1,155 AMETEK, Inc. (NYSE:AME)

Cumberland Partners Ltd bought a new stake in shares of AMETEK, Inc. (NYSE:AME) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,155 shares of the technology company’s stock, valued at approximately $208,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AME. Itau Unibanco Holding S.A. grew its position in shares of AMETEK by 62.6% during the 3rd 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 period. Versant Capital Management Inc grew its position in shares of AMETEK by 3,116.7% during the 4th 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 period. AdvisorNet Financial Inc grew its position in shares of AMETEK by 1,176.5% during the 4th 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 period. Geneos Wealth Management Inc. grew its position in shares of AMETEK by 42.9% during the 4th 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 period. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of AMETEK during the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

Analysts Set New Price Targets

AME has been the subject of several recent analyst reports. KeyCorp raised their price objective on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Robert W. Baird reduced their price objective on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Mizuho raised their price objective on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. BNP Paribas raised shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective for the company in a research report on Thursday, January 16th. Finally, Truist Financial increased their target price on AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $204.67.

Insider Buying and Selling at AMETEK

In other news, insider Emanuela Speranza sold 6,747 shares of AMETEK stock in a transaction on 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 sale, the insider now directly owns 30,460 shares in the company, valued at $5,967,114. The trade was a 18.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.61% of the company’s stock.

AMETEK Price Performance

Shares of NYSE:AME opened at $188.76 on Friday. 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 stock’s fifty day simple moving average is $182.97 and its two-hundred day simple moving average is $177.77. AMETEK, Inc. has a 1-year low of $149.03 and a 1-year high of $198.33. The stock has a market cap of $43.66 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 2.70 and a beta of 1.16.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, beating 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 business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period last year, the business earned $1.68 EPS. The business’s revenue was up 1.8% on a year-over-year basis. As a group, analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

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 paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from AMETEK’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 0.66%. AMETEK’s dividend payout ratio (DPR) is 20.91%.

AMETEK announced that its board has approved a share buyback program on Friday, February 7th that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the technology company to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.