12,263 Shares in AMETEK, Inc. (NYSE:AME) Acquired by Mirabella Financial Services LLP

Mirabella Financial Services LLP acquired a new stake in AMETEK, Inc. (NYSE:AME) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 12,263 shares of the technology company’s stock, valued at approximately $2,210,000.

Several other large investors have also recently added to or reduced their stakes in AME. MetLife Investment Management LLC grew its holdings in AMETEK by 1.7% in the fourth quarter. MetLife Investment Management LLC now owns 61,211 shares of the technology company’s stock valued at $11,034,000 after purchasing an additional 1,021 shares during the period. Natixis increased its holdings in shares of AMETEK by 0.9% during the 4th quarter. Natixis now owns 68,082 shares of the technology company’s stock worth $12,272,000 after buying an additional 631 shares during the last quarter. Norinchukin Bank The grew its position in AMETEK by 11.0% during the fourth quarter. Norinchukin Bank The now owns 10,793 shares of the technology company’s stock valued at $1,946,000 after acquiring an additional 1,073 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of AMETEK in the 4th quarter worth about $1,666,000. Finally, Capital World Investors grew its holdings in shares of AMETEK by 70.0% during the 4th quarter. Capital World Investors now owns 5,760,017 shares of the technology company’s stock worth $1,038,301,000 after purchasing an additional 2,371,062 shares during the period. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Steven W. Kohlhagen sold 1,320 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were 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 directly owns 22,029 shares of the company’s stock, valued at approximately $4,172,512.89. This represents a 5.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas A. Amato sold 710 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were 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 of the company’s stock, valued at approximately $1,865,318.40. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

AMETEK Price Performance

Shares of AME opened at $157.66 on Friday. The stock has a 50 day moving average of $174.27 and a 200-day moving average of $179.70. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week high of $198.33. The firm has a market cap of $36.38 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 2.73 and a beta of 1.14. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the business posted $1.68 EPS. The company’s quarterly 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 year.

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

AMETEK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders 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 dividend yield of 0.79%. AMETEK’s payout ratio is 20.91%.

Analyst Upgrades and Downgrades

AME has been the subject of several recent research reports. 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. Morgan Stanley began coverage on AMETEK in a research note on Monday, April 14th. They set an “equal weight” rating and a $170.00 price objective on the stock. Robert W. Baird dropped their target price on AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Truist Financial lowered their price objective on shares of AMETEK from $216.00 to $196.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus 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.