AMETEK, Inc. (NYSE:AME) Shares Sold by Cramer Rosenthal Mcglynn LLC

Cramer Rosenthal Mcglynn LLC decreased its holdings in shares of AMETEK, Inc. (NYSE:AME) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,404 shares of the technology company’s stock after selling 2,957 shares during the quarter. Cramer Rosenthal Mcglynn LLC’s holdings in AMETEK were worth $12,871,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB grew its holdings in shares of AMETEK by 4.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company’s stock worth $261,000 after purchasing an additional 63 shares during the period. Kensington Investment Counsel LLC lifted its position in AMETEK by 0.5% in the fourth quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company’s stock valued at $2,574,000 after buying an additional 66 shares during the last quarter. AlphaMark Advisors LLC boosted its stake in AMETEK by 2.1% during the fourth quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company’s stock worth $604,000 after buying an additional 70 shares during the period. Geneos Wealth Management Inc. increased its position in shares of AMETEK by 42.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock valued at $42,000 after acquiring an additional 70 shares during the last quarter. Finally, Quotient Wealth Partners LLC raised its stake in shares of AMETEK by 3.9% in the 4th quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company’s stock valued at $332,000 after acquiring an additional 70 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Stock Down 0.5 %

Shares of NYSE:AME opened at $157.66 on Friday. AMETEK, Inc. has a fifty-two week low of $145.02 and a fifty-two week high of $198.33. The firm’s 50 day moving average price is $174.83 and its 200 day moving average price is $179.69. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15. The stock has a market cap of $36.38 billion, a price-to-earnings ratio of 26.59, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, beating 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 net margin of 19.83% and a return on equity of 16.94%. The company’s revenue was up 1.8% on a year-over-year basis. During the same period last year, the business earned $1.68 EPS. As a group, equities research analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK declared that its Board of Directors has initiated a stock repurchase program on Friday, February 7th that permits the company to buyback $1.25 billion in outstanding shares. This buyback authorization permits the technology company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

AMETEK Increases Dividend

The firm also recently disclosed 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 a boost from AMETEK’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Friday, March 14th. AMETEK’s dividend payout ratio is currently 20.91%.

Insider Activity

In related news, Director Thomas A. Amato sold 710 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 10,560 shares of the company’s stock, valued at $1,865,318.40. This represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,320 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 22,029 shares in the company, 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. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AME. BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price for the company in a report on Thursday, January 16th. Morgan Stanley started coverage on AMETEK in a research note on Monday. They issued an “equal weight” rating and a $170.00 price objective for the company. Truist Financial decreased their target price on AMETEK from $216.00 to $196.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Robert W. Baird dropped their target price on AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Finally, StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. One investment 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. According to MarketBeat, AMETEK has an average rating of “Moderate Buy” and an average price target of $198.60.

About AMETEK

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.