AMETEK, Inc. (NYSE:AME) Position Increased by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co grew its position in shares of AMETEK, Inc. (NYSE:AME) by 10.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 22,626 shares of the technology company’s stock after acquiring an additional 2,193 shares during the period. Elo Mutual Pension Insurance Co’s holdings in AMETEK were worth $4,079,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its stake in AMETEK by 4.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company’s stock valued at $261,000 after acquiring an additional 63 shares during the last quarter. Kensington Investment Counsel LLC lifted its stake in shares of AMETEK by 0.5% in the 4th quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company’s stock valued at $2,574,000 after purchasing an additional 66 shares during the last quarter. AlphaMark Advisors LLC boosted its holdings in AMETEK by 2.1% in the fourth quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company’s stock worth $604,000 after purchasing an additional 70 shares in the last quarter. Geneos Wealth Management Inc. increased its position in AMETEK by 42.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock worth $42,000 after buying an additional 70 shares during the last quarter. Finally, Quotient Wealth Partners LLC raised its holdings in AMETEK by 3.9% during the fourth quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company’s stock valued at $332,000 after buying an additional 70 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Stock Down 3.0 %

AME stock opened at $170.25 on Friday. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15. The company has a market cap of $39.28 billion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. The business’s 50-day simple moving average is $182.60 and its 200 day simple moving average is $180.80.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.82 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. AMETEK’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.68 EPS. On average, research analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from AMETEK’s previous quarterly dividend of $0.28. AMETEK’s dividend payout ratio is 20.91%.

AMETEK announced that its board has approved a share repurchase plan on Friday, February 7th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the technology company to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have recently issued reports on AME shares. Truist Financial upped their price target on AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a report on Wednesday. Bank of America raised shares of AMETEK from a “neutral” rating to a “buy” rating and lifted their price target for the company from $195.00 to $225.00 in a research report on Monday, December 16th. Robert W. Baird lowered their target price on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Finally, BNP Paribas raised shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price for the company in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AMETEK presently has a consensus rating of “Moderate Buy” and an average price target of $204.67.

Insiders Place Their Bets

In other AMETEK news, Director Thomas A. Amato sold 710 shares of AMETEK stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total transaction of $125,414.40. Following the completion of the transaction, the director now directly owns 10,560 shares of the company’s stock, valued at approximately $1,865,318.40. This trade represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven W. Kohlhagen sold 1,320 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $189.41, for a total transaction of $250,021.20. Following the completion of the sale, the director now directly owns 22,029 shares in the company, valued at approximately $4,172,512.89. The trade was a 5.65 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

About AMETEK

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.