AMETEK, Inc. (NYSE:AME) Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP grew its position in shares of AMETEK, Inc. (NYSE:AME) by 61.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,579 shares of the technology company’s stock after purchasing an additional 8,965 shares during the period. Quantinno Capital Management LP’s holdings in AMETEK were worth $4,251,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AME. JPMorgan Chase & Co. boosted its position in AMETEK by 3.7% during the third quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company’s stock worth $1,199,454,000 after acquiring an additional 250,538 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of AMETEK by 1,176.5% during the fourth quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock worth $39,000 after purchasing an additional 200 shares during the last quarter. Park Avenue Securities LLC grew its holdings in AMETEK by 2.5% in the 4th quarter. Park Avenue Securities LLC now owns 6,588 shares of the technology company’s stock valued at $1,188,000 after buying an additional 160 shares during the period. Procyon Advisors LLC grew its holdings in AMETEK by 7.8% in the fourth quarter. Procyon Advisors LLC now owns 2,146 shares of the technology company’s stock valued at $387,000 after purchasing an additional 155 shares during the period. Finally, Merit Financial Group LLC acquired a new position in AMETEK during the fourth quarter worth approximately $258,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AME has been the topic of a number of research analyst reports. StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Truist Financial increased their target price on AMETEK from $196.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Morgan Stanley started coverage on AMETEK in a research report on Monday, April 14th. They set an “equal weight” rating and a $170.00 price target for the company. Robert W. Baird cut their price objective on AMETEK from $197.00 to $190.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Finally, Royal Bank of Canada boosted their target price on AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $196.90.

AMETEK Stock Performance

AMETEK stock opened at $182.81 on Monday. The firm has a market capitalization of $42.21 billion, a PE ratio of 30.83, a price-to-earnings-growth ratio of 2.73 and a beta of 1.12. AMETEK, Inc. has a one year low of $145.02 and a one year high of $198.33. The stock’s 50 day moving average price is $168.32 and its 200 day moving average price is $179.90. 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 (NYSE:AME) last posted its earnings results on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.06. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.64 earnings per share. As a group, sell-side analysts expect that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, June 13th. This represents a $1.24 dividend on an annualized basis and a yield of 0.68%. AMETEK’s payout ratio is currently 20.29%.

AMETEK announced that its board has initiated a stock repurchase plan on Friday, February 7th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the 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 transaction, the director now owns 22,029 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this link. Also, Director Thomas A. Amato sold 710 shares of AMETEK 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 sale, the director now owns 10,560 shares in the company, valued at $1,865,318.40. This represents a 6.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

AMETEK 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.