AMETEK, Inc. (NYSE:AME) Shares Sold by JARISLOWSKY FRASER Ltd

JARISLOWSKY FRASER Ltd trimmed its stake in shares of AMETEK, Inc. (NYSE:AME) by 3.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 629,766 shares of the technology company’s stock after selling 19,312 shares during the quarter. JARISLOWSKY FRASER Ltd’s holdings in AMETEK were worth $112,523,000 at the end of the most recent reporting period.

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

AMETEK Stock Performance

NYSE AME opened at $171.69 on Friday. The stock has a fifty day simple moving average of $168.51 and a 200-day simple moving average of $179.47. 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 has a market cap of $39.64 billion, a PE ratio of 28.95, a P/E/G ratio of 2.73 and a beta of 1.12. AMETEK, Inc. has a twelve month low of $145.02 and a twelve month high of $198.33.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.06. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. AMETEK’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.64 earnings per share. Equities analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK announced that its board has initiated 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 often an indication that the company’s leadership believes its shares are undervalued.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Friday, June 13th. AMETEK’s payout ratio is 20.29%.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were 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 $4,172,512.89. This represents a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas A. Amato sold 710 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $176.64, for a total transaction of $125,414.40. Following the sale, the director now directly owns 10,560 shares in the company, valued at $1,865,318.40. This represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Morgan Stanley started coverage on shares of AMETEK in a research note on Monday, April 14th. They issued an “equal weight” rating and a $170.00 price target on the stock. Robert W. Baird cut their price objective on shares of AMETEK from $197.00 to $190.00 and set a “neutral” rating for the company in a report on Wednesday. Truist Financial boosted their target price on AMETEK from $196.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, May 5th. BNP Paribas raised 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. Finally, Royal Bank of Canada boosted their price objective on AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $196.90.

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.