AMETEK, Inc. (NYSE:AME) is Port Capital LLC's 6th Largest Position

Port Capital LLC grew its position in AMETEK, Inc. (NYSE:AME - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 473,975 shares of the technology company's stock after acquiring an additional 3,605 shares during the period. AMETEK comprises approximately 3.9% of Port Capital LLC's investment portfolio, making the stock its 6th biggest position. Port Capital LLC owned approximately 0.20% of AMETEK worth $85,439,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of AMETEK during the 4th quarter worth about $697,080,000. Capital World Investors raised its position in shares of AMETEK by 70.0% during the 4th quarter. Capital World Investors now owns 5,760,017 shares of the technology company's stock worth $1,038,301,000 after purchasing an additional 2,371,062 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of AMETEK by 393.1% during the 4th quarter. Lazard Asset Management LLC now owns 1,215,087 shares of the technology company's stock worth $219,030,000 after purchasing an additional 968,661 shares during the last quarter. American Century Companies Inc. raised its position in shares of AMETEK by 240.3% during the 4th quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company's stock worth $202,805,000 after purchasing an additional 794,473 shares during the last quarter. Finally, Alteri Wealth LLC acquired a new position in shares of AMETEK during the 4th quarter worth about $114,769,000. Institutional investors and hedge funds own 87.43% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AME shares. Morgan Stanley started coverage on shares of AMETEK in a research report on Monday, April 14th. They set an "equal weight" rating and a $170.00 price target for the company. Truist Financial upped their price objective on shares of AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Robert W. Baird dropped their price objective on shares of AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. StockNews.com raised shares of AMETEK from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Finally, Royal Bank of Canada upped their price objective on shares of AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AMETEK currently has a consensus rating of "Moderate Buy" and a consensus price target of $196.90.

Insider Transactions at AMETEK

In other news, Director Thomas A. Amato sold 710 shares of the company's stock in a transaction that occurred on 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 approximately $1,865,318.40. This represents a 6.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,320 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $189.41, for a total transaction of $250,021.20. Following the completion of the transaction, the director now directly owns 22,029 shares of the company's stock, valued at $4,172,512.89. This represents a 5.65% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.57% of the company's stock.

AMETEK Trading Up 1.4%

NYSE:AME traded up $2.60 on Friday, hitting $182.81. The stock had a trading volume of 1,167,568 shares, compared to its average volume of 1,295,383. 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 stock has a market cap of $42.21 billion, a price-to-earnings ratio of 30.83, a PEG ratio of 2.73 and a beta of 1.12. The company has a fifty day moving average price of $168.32 and a two-hundred day moving average price of $179.92. AMETEK, Inc. has a 1-year low of $145.02 and a 1-year high of $198.33.

AMETEK (NYSE:AME - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.06. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. AMETEK's revenue was down .2% on a year-over-year basis. During the same period in the previous year, the business posted $1.64 EPS. Equities research analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, June 13th. This represents a $1.24 annualized dividend and a dividend yield of 0.68%. AMETEK's dividend payout ratio is currently 20.29%.

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

AMETEK Company Profile

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.