Board of the Pension Protection Fund Acquires Shares of 3,000 AMETEK, Inc. (NYSE:AME)

Board of the Pension Protection Fund bought a new position in shares of AMETEK, Inc. (NYSE:AME) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,000 shares of the technology company’s stock, valued at approximately $541,000.

A number of other institutional investors have also recently modified their holdings of AME. Oddo BHF Asset Management Sas purchased a new position in AMETEK during the third quarter worth approximately $3,724,000. Everence Capital Management Inc. acquired a new stake in AMETEK in the 4th quarter valued at $999,000. BNP Paribas Financial Markets increased its holdings in AMETEK by 23.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 355,828 shares of the technology company’s stock worth $61,099,000 after acquiring an additional 67,025 shares in the last quarter. Sawgrass Asset Management LLC raised its position in AMETEK by 36.5% during the third quarter. Sawgrass Asset Management LLC now owns 74,757 shares of the technology company’s stock worth $12,837,000 after acquiring an additional 20,001 shares during the period. Finally, Taurus Asset Management LLC lifted its holdings in AMETEK by 2.9% during the third quarter. Taurus Asset Management LLC now owns 115,033 shares of the technology company’s stock valued at $19,752,000 after purchasing an additional 3,210 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. Truist Financial increased their target price on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and increased their price objective for the company from $195.00 to $225.00 in a research note on Monday, December 16th. Finally, KeyCorp lifted their target price on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AMETEK currently has a consensus rating of “Moderate Buy” and an average target price of $202.50.

AMETEK Price Performance

Shares of AME stock opened at $179.12 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The company has a market capitalization of $41.43 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 3.08 and a beta of 1.16. The firm’s 50-day moving average is $187.75 and its two-hundred day moving average is $174.94. AMETEK, Inc. has a 12 month low of $149.03 and a 12 month high of $198.33.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.64 earnings per share. Analysts predict that AMETEK, Inc. will post 6.8 earnings per share for the current year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.12 annualized dividend and a yield of 0.63%. AMETEK’s dividend payout ratio (DPR) is currently 19.51%.

Insider Buying and Selling at AMETEK

In other news, insider Tony J. Ciampitti sold 16,210 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $197.01, for a total value of $3,193,532.10. Following the sale, the insider now directly owns 49,490 shares of the company’s stock, valued at approximately $9,750,024.90. The trade was a 24.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Emanuela Speranza sold 6,747 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total value of $1,321,737.30. Following the completion of the sale, the insider now directly owns 30,460 shares in the company, valued at approximately $5,967,114. The trade was a 18.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,200 shares of company stock valued at $5,707,620 over the last 90 days. 0.61% of the stock is owned by insiders.

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.