ExodusPoint Capital Management LP Purchases 23,532 Shares of AMETEK, Inc. (NYSE:AME)

ExodusPoint Capital Management LP grew its holdings in shares of AMETEK, Inc. (NYSE:AME) by 76.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,429 shares of the technology company’s stock after acquiring an additional 23,532 shares during the period. ExodusPoint Capital Management LP’s holdings in AMETEK were worth $9,811,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in AME. Versant Capital Management Inc grew its stake in AMETEK by 3,116.7% during the fourth quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock worth $35,000 after purchasing an additional 187 shares during the period. AdvisorNet Financial Inc grew its position in shares of AMETEK by 1,176.5% during the 4th quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock worth $39,000 after buying an additional 200 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of AMETEK by 42.9% in the 4th 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. OFI Invest Asset Management acquired a new position in shares of AMETEK during the 4th quarter valued at $43,000. Finally, Anchor Investment Management LLC boosted its stake in AMETEK by 366.1% during the third quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock worth $45,000 after acquiring an additional 205 shares in the last quarter. 87.43% of the stock is owned by institutional investors.

Insider Activity at AMETEK

In other AMETEK news, Director Thomas A. Amato sold 710 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $176.64, for a total value of $125,414.40. Following the transaction, the director now directly owns 10,560 shares in the company, valued at $1,865,318.40. The trade was a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven W. Kohlhagen sold 1,320 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total transaction of $250,021.20. Following the sale, the director now owns 22,029 shares of the company’s stock, 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. 0.57% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AME shares. Robert W. Baird dropped their price objective 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. StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a report on Thursday. Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and upped their target price for the stock from $195.00 to $225.00 in a research report on Monday, December 16th. BNP Paribas raised shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target for the company in a research report on Thursday, January 16th. Finally, Truist Financial boosted their price target on shares of AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, two 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.com, AMETEK has an average rating of “Moderate Buy” and a consensus target price of $204.67.

AMETEK Trading Down 5.6 %

Shares of AME stock opened at $152.45 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24. The company has a market capitalization of $35.18 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week high of $198.33. The company has a 50-day simple moving average of $180.56 and a two-hundred day simple moving average of $180.79.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period last year, the business posted $1.68 earnings per share. AMETEK’s revenue was up 1.8% on a year-over-year basis. Research analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK declared that its board has authorized a stock repurchase program on Friday, February 7th that permits the company to buyback $1.25 billion in shares. This buyback authorization permits the technology company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.31 dividend. This is an increase from AMETEK’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend was Friday, March 14th. AMETEK’s payout ratio is 20.91%.

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.