Y Intercept Hong Kong Ltd Invests $2.77 Million in AMETEK, Inc. (NYSE:AME)

Y Intercept Hong Kong Ltd acquired a new position in AMETEK, Inc. (NYSE:AME) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 15,388 shares of the technology company’s stock, valued at approximately $2,774,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AME. Itau Unibanco Holding S.A. raised its stake in AMETEK by 62.6% in 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 raised its position in shares of AMETEK by 1,176.5% in the 4th quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock valued at $39,000 after purchasing an additional 200 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in AMETEK by 42.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock worth $42,000 after purchasing an additional 70 shares in the last quarter. Finally, Princeton Global Asset Management LLC purchased a new stake in AMETEK during the 3rd quarter worth approximately $44,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AME. Truist Financial lifted their price objective on shares of AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. KeyCorp lifted their price target on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. 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 report on Monday, December 16th. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a report on Friday. Finally, Mizuho increased their price target on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $204.67.

AMETEK Stock Down 0.2 %

AME opened at $185.76 on Tuesday. The company has a fifty day moving average of $182.88 and a two-hundred day moving average of $178.55. The stock has a market capitalization of $42.97 billion, a price-to-earnings ratio of 31.33, a PEG ratio of 2.73 and a beta of 1.16. AMETEK, Inc. has a fifty-two week low of $149.03 and a fifty-two week high of $198.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24.

AMETEK (NYSE:AME) last posted its 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. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.82 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the firm earned $1.68 EPS. On average, research analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Increases Dividend

The business 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 $0.31 dividend. 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 annualized dividend and a dividend yield of 0.67%. AMETEK’s dividend payout ratio (DPR) is 18.89%.

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

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.