abrdn plc Grows Stake in AMETEK, Inc. (NYSE:AME)

abrdn plc increased its holdings in AMETEK, Inc. (NYSE:AME) by 57.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 115,151 shares of the technology company’s stock after buying an additional 41,992 shares during the period. abrdn plc’s holdings in AMETEK were worth $18,987,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AME. Giverny Capital Inc. boosted its position in shares of AMETEK by 0.5% during the 3rd quarter. Giverny Capital Inc. now owns 897,056 shares of the technology company’s stock valued at $132,549,000 after acquiring an additional 4,556 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in shares of AMETEK by 11.6% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 3,637 shares of the technology company’s stock worth $537,000 after buying an additional 378 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of AMETEK by 161.0% in the 4th quarter. Pacer Advisors Inc. now owns 44,684 shares of the technology company’s stock worth $7,368,000 after buying an additional 27,562 shares during the last quarter. Tyche Wealth Partners LLC purchased a new stake in shares of AMETEK during the 4th quarter valued at $6,275,000. Finally, Whittier Trust Co. lifted its holdings in shares of AMETEK by 9.0% during the 3rd quarter. Whittier Trust Co. now owns 3,117 shares of the technology company’s stock worth $461,000 after acquiring an additional 258 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Stock Down 0.9 %

Shares of AMETEK stock opened at $178.25 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.59 and a current ratio of 0.98. AMETEK, Inc. has a 52-week low of $133.12 and a 52-week high of $186.32. The company’s 50 day moving average price is $179.97 and its 200-day moving average price is $165.07. The stock has a market capitalization of $41.21 billion, a price-to-earnings ratio of 31.44, a P/E/G ratio of 2.84 and a beta of 1.22.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.06. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. AMETEK had a net margin of 19.91% and a return on equity of 17.96%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.52 EPS. Equities research analysts forecast that AMETEK, Inc. will post 6.82 EPS for the current year.

AMETEK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 8th were issued a $0.28 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.12 annualized dividend and a yield of 0.63%. This is a boost from AMETEK’s previous quarterly dividend of $0.25. AMETEK’s dividend payout ratio (DPR) is 19.75%.

Insider Transactions at AMETEK

In related news, Director Thomas A. Amato sold 780 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total transaction of $141,960.00. Following the completion of the transaction, the director now owns 10,240 shares in the company, valued at $1,863,680. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Thomas A. Amato sold 780 shares of AMETEK stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total transaction of $141,960.00. Following the sale, the director now owns 10,240 shares of the company’s stock, valued at approximately $1,863,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William Joseph Burke sold 27,400 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $185.05, for a total transaction of $5,070,370.00. Following the completion of the transaction, the chief financial officer now directly owns 106,512 shares of the company’s stock, valued at $19,710,045.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,881 shares of company stock worth $10,689,758. 0.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. KeyCorp boosted their target price on AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Royal Bank of Canada reduced their price target on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Finally, Truist Financial began coverage on shares of AMETEK in a report on Thursday, March 14th. They issued a “buy” rating and a $210.00 price objective for the company. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, AMETEK presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.78.

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.