Blue Trust Inc. Decreases Stock Holdings in AMETEK, Inc. (NYSE:AME)

Blue Trust Inc. trimmed its position in shares of AMETEK, Inc. (NYSE:AMEFree Report) by 81.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 415 shares of the technology company’s stock after selling 1,783 shares during the quarter. Blue Trust Inc.’s holdings in AMETEK were worth $75,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AME. Itau Unibanco Holding S.A. lifted its position in shares of AMETEK by 62.6% during the third quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock valued at $34,000 after buying an additional 77 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of AMETEK by 3,116.7% during the fourth quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock valued at $35,000 after acquiring an additional 187 shares in the last quarter. AdvisorNet Financial Inc increased 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 valued at $39,000 after acquiring an additional 200 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of AMETEK by 42.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock valued at $42,000 after acquiring an additional 70 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in shares of AMETEK during the third quarter valued at about $44,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Emanuela Speranza sold 6,747 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the transaction, the insider now owns 30,460 shares in the company, valued at $5,967,114. This trade represents a 18.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

AME has been the topic of several recent analyst reports. Mizuho upped their price objective on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Bank of America upgraded shares of AMETEK from a “neutral” rating to a “buy” rating and upped their price objective for the company from $195.00 to $225.00 in a report on Monday, December 16th. Robert W. Baird cut their price target on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Truist Financial increased their price target on shares of AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target on the stock in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.67.

View Our Latest Research Report on AME

AMETEK Price Performance

Shares of NYSE AME opened at $186.11 on Monday. The stock has a market capitalization of $43.05 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 2.77 and a beta of 1.16. AMETEK, Inc. has a 12 month low of $149.03 and a 12 month high of $198.33. The firm’s 50 day simple moving average is $182.95 and its 200-day simple moving average is $178.36. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75.

AMETEK (NYSE:AMEGet Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.82 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the company earned $1.68 EPS. Analysts expect that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK declared that its Board of Directors has initiated a share repurchase plan on Friday, February 7th that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the technology company to buy up to 2.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

AMETEK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.31 per share. This is a positive change from AMETEK’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.67%. AMETEK’s dividend payout ratio (DPR) is 18.89%.

AMETEK Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding AME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AMETEK, Inc. (NYSE:AMEFree Report).

Institutional Ownership by Quarter for AMETEK (NYSE:AME)

Receive News & Ratings for AMETEK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMETEK and related companies with MarketBeat.com's FREE daily email newsletter.