Bayesian Capital Management LP Raises Holdings in AMETEK, Inc. (NYSE:AME)

Bayesian Capital Management LP lifted its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 31.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,729 shares of the technology company's stock after purchasing an additional 2,100 shares during the quarter. Bayesian Capital Management LP's holdings in AMETEK were worth $1,573,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its position in shares of AMETEK by 3,116.7% in the fourth quarter. Versant Capital Management Inc now owns 193 shares of the technology company's stock worth $35,000 after acquiring an additional 187 shares in the last quarter. AdvisorNet Financial Inc grew its holdings in shares of AMETEK by 1,176.5% during the fourth 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. grew its stake in AMETEK by 42.9% during the 4th 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. OFI Invest Asset Management acquired a new stake in shares of AMETEK in the 4th quarter worth about $43,000. Finally, Quent Capital LLC boosted its position in shares of AMETEK by 60.9% during the fourth quarter. Quent Capital LLC now owns 251 shares of the technology company's stock worth $45,000 after buying an additional 95 shares during the period. Hedge funds and other institutional investors own 87.43% of the company's stock.

AMETEK Price Performance

NYSE:AME traded up $2.01 on Wednesday, hitting $169.86. The company had a trading volume of 840,909 shares, compared to its average volume of 1,288,246. The stock has a market capitalization of $39.19 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 2.73 and a beta of 1.12. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week high of $198.33. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $169.03 and a two-hundred day moving average of $179.35.

AMETEK (NYSE:AME - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.69 by $0.06. The business had revenue of $1.73 billion for 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 firm's revenue was down .2% on a year-over-year basis. During the same period in the prior year, the business posted $1.64 earnings per share. On average, research analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK announced that its board has authorized a stock repurchase plan on Friday, February 7th that authorizes the company to repurchase $1.25 billion in outstanding 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 an indication that the company's leadership believes its stock is undervalued.

AMETEK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.31 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.24 annualized dividend and a dividend yield of 0.73%. This is an increase from AMETEK's previous quarterly dividend of $0.28. AMETEK's dividend payout ratio is currently 20.29%.

Insider Transactions at AMETEK

In other AMETEK news, Director Thomas A. Amato sold 710 shares of the 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 sale, the director now owns 10,560 shares in the company, valued at $1,865,318.40. This represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven W. Kohlhagen sold 1,320 shares of the firm's stock in a transaction 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 approximately $4,172,512.89. The trade was a 5.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.57% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on AME. BNP Paribas raised AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 target price on the stock in a report on Thursday, January 16th. StockNews.com downgraded shares of AMETEK from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Truist Financial increased their price target on AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a report on Monday. Royal Bank of Canada raised their price objective on shares of AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, Robert W. Baird lowered their price objective on AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AMETEK presently has a consensus rating of "Moderate Buy" and a consensus price target of $196.90.

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.