AMETEK, Inc. (NYSE:AME) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its position in AMETEK, Inc. (NYSE:AME) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,485 shares of the technology company’s stock after selling 6,526 shares during the period. Pictet Asset Management Holding SA’s holdings in AMETEK were worth $19,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in AMETEK in the 4th quarter worth approximately $697,080,000. EdgePoint Investment Group Inc. boosted its stake in AMETEK by 87.9% during the third quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock worth $337,279,000 after buying an additional 918,737 shares during the last quarter. American Century Companies Inc. grew its holdings in AMETEK by 240.3% in the 4th quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company’s stock valued at $202,805,000 after buying an additional 794,473 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of AMETEK by 72.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock worth $288,526,000 after acquiring an additional 703,501 shares during the last quarter. Finally, Bryn Mawr Capital Management LLC raised its holdings in shares of AMETEK by 10,506.5% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 476,442 shares of the technology company’s stock worth $812,000 after acquiring an additional 471,950 shares during the period. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

AMETEK Stock Down 0.1 %

Shares of NYSE:AME opened at $171.96 on Wednesday. The firm’s 50-day moving average is $182.17 and its two-hundred day moving average is $181.09. 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. The firm has a market capitalization of $39.68 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME) last released its earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share (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 analyst estimates of $1.82 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.68 EPS. Analysts predict that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Increases Dividend

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

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target for the company in a report on Thursday, January 16th. Truist Financial upped their price objective on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and raised their target price for the stock from $195.00 to $225.00 in a research note on Monday, December 16th. Finally, Robert W. Baird decreased their price target 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and an average target price of $204.67.

Insider Buying and Selling at AMETEK

In other news, Director Thomas A. Amato sold 710 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total value of $125,414.40. Following the sale, the director now directly owns 10,560 shares in the company, valued at approximately $1,865,318.40. This trade represents a 6.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $189.41, for a total transaction of $250,021.20. Following the transaction, the director now owns 22,029 shares of the company’s stock, valued at approximately $4,172,512.89. The trade was a 5.65 % decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

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.