AMETEK, Inc. (NYSE:AME) Shares Acquired by EdgePoint Investment Group Inc.

EdgePoint Investment Group Inc. boosted its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 14.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,250,797 shares of the technology company's stock after acquiring an additional 286,561 shares during the quarter. AMETEK accounts for about 3.2% of EdgePoint Investment Group Inc.'s portfolio, making the stock its 18th biggest holding. EdgePoint Investment Group Inc. owned 0.97% of AMETEK worth $405,729,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB increased its stake in shares of AMETEK by 4.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company's stock worth $261,000 after purchasing an additional 63 shares in the last quarter. Kensington Investment Counsel LLC increased its stake in AMETEK by 0.5% during the 4th quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company's stock worth $2,574,000 after buying an additional 66 shares in the last quarter. AlphaMark Advisors LLC increased its stake in AMETEK by 2.1% during the 4th quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company's stock worth $604,000 after buying an additional 70 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of AMETEK by 42.9% in 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, Quotient Wealth Partners LLC boosted its stake in shares of AMETEK by 3.9% in the fourth quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company's stock worth $332,000 after acquiring an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

AMETEK Stock Up 1.1 %

Shares of NYSE AME opened at $171.57 on Friday. The business has a 50-day moving average of $168.74 and a two-hundred day moving average of $179.36. The company has a market capitalization of $39.61 billion, a price-to-earnings ratio of 28.93, a price-to-earnings-growth ratio of 2.73 and a beta of 1.12. AMETEK, Inc. has a 1 year low of $145.02 and a 1 year high of $198.33. 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:AME - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.69 by $0.06. The firm had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.74 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The business's revenue was down .2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.64 EPS. On average, analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.72%. AMETEK's payout ratio is 20.29%.

AMETEK declared that its board has authorized a share repurchase plan on Friday, February 7th that permits the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

AME has been the subject of a number of recent research reports. BNP Paribas upgraded 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. Royal Bank of Canada boosted their price objective on shares of AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Robert W. Baird decreased their price target on AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock in a research note on Wednesday. Truist Financial boosted their price target on shares of AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday. Finally, StockNews.com lowered shares of AMETEK from a "buy" rating to a "hold" rating in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AMETEK currently has an average rating of "Moderate Buy" and a consensus target price of $196.90.

Insider Activity at AMETEK

In other news, Director Thomas A. Amato sold 710 shares of the company'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 completion of the sale, the director now directly owns 10,560 shares of the company's stock, valued at approximately $1,865,318.40. This represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,320 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the transaction, the director now directly owns 22,029 shares in the company, valued at approximately $4,172,512.89. This represents a 5.65 % decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.

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.

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