Syon Capital LLC Sells 105 Shares of AMETEK, Inc. (NYSE:AME)

Syon Capital LLC cut its position in AMETEK, Inc. (NYSE:AME) by 4.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,553 shares of the technology company’s stock after selling 105 shares during the quarter. Syon Capital LLC’s holdings in AMETEK were worth $460,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mar Vista Investment Partners LLC lifted its holdings in AMETEK by 39.0% during the fourth quarter. Mar Vista Investment Partners LLC now owns 193,927 shares of the technology company’s stock valued at $34,957,000 after purchasing an additional 54,373 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in shares of AMETEK by 6.4% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 22,856 shares of the technology company’s stock valued at $4,120,000 after buying an additional 1,379 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in AMETEK by 118.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 63,657 shares of the technology company’s stock worth $11,475,000 after buying an additional 34,465 shares during the period. MGO One Seven LLC purchased a new position in AMETEK in the 4th quarter valued at approximately $247,000. Finally, Nippon Life Global Investors Americas Inc. raised its holdings in AMETEK by 5.7% during the 4th quarter. Nippon Life Global Investors Americas Inc. now owns 7,200 shares of the technology company’s stock valued at $1,298,000 after acquiring an additional 390 shares during the period. Institutional investors own 87.43% of the company’s stock.

AMETEK Stock Performance

NYSE AME opened at $167.48 on Friday. The company has a market capitalization of $38.65 billion, a P/E ratio of 28.24, a P/E/G ratio of 2.73 and a beta of 1.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24. AMETEK, Inc. has a 52-week low of $145.02 and a 52-week high of $198.33. The company has a fifty day moving average of $172.42 and a 200-day moving average of $179.41.

AMETEK (NYSE:AME) last posted its quarterly earnings data 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 firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.82 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.68 EPS. As a group, equities research analysts predict that AMETEK, Inc. will post 7.15 EPS 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 repurchase $1.25 billion in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are 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 issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.74%. This is a positive change from AMETEK’s previous quarterly dividend of $0.28. The ex-dividend date was Friday, March 14th. AMETEK’s payout ratio is presently 20.91%.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,320 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was 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 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 transaction 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 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 transaction, the director now owns 10,560 shares in the company, valued at approximately $1,865,318.40. The trade was a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AME has been the subject of several recent research reports. BNP Paribas upgraded AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target for the company in a research report on Thursday, January 16th. 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 report on Wednesday, February 5th. Morgan Stanley initiated coverage on shares of AMETEK in a report on Monday, April 14th. They issued an “equal weight” rating and a $170.00 price target on the stock. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. Finally, Truist Financial lowered their target price on shares of AMETEK from $216.00 to $196.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AMETEK currently has a consensus rating of “Moderate Buy” and an average target price 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.