Brevan Howard Capital Management LP Lowers Position in AMETEK, Inc. (NYSE:AME)

Brevan Howard Capital Management LP reduced its position in AMETEK, Inc. (NYSE:AME - Free Report) by 70.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,320 shares of the technology company's stock after selling 10,514 shares during the period. Brevan Howard Capital Management LP's holdings in AMETEK were worth $779,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. National Bank of Canada FI grew its stake in AMETEK by 17.4% in the 4th quarter. National Bank of Canada FI now owns 142,093 shares of the technology company's stock valued at $25,616,000 after buying an additional 21,009 shares in the last quarter. Czech National Bank boosted its holdings in shares of AMETEK by 6.3% in the fourth quarter. Czech National Bank now owns 50,153 shares of the technology company's stock worth $9,041,000 after acquiring an additional 2,987 shares during the period. Assenagon Asset Management S.A. grew its position in shares of AMETEK by 434.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company's stock valued at $97,614,000 after purchasing an additional 440,197 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of AMETEK by 16.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,898 shares of the technology company's stock valued at $16,025,000 after purchasing an additional 12,584 shares during the period. Finally, Fox Run Management L.L.C. lifted its holdings in AMETEK by 74.1% during the 4th quarter. Fox Run Management L.L.C. now owns 8,418 shares of the technology company's stock worth $1,517,000 after purchasing an additional 3,584 shares in the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

AMETEK Price Performance

Shares of AME stock traded up $0.12 during trading hours on Friday, hitting $171.69. 1,257,909 shares of the company's stock were exchanged, compared to its average volume of 1,289,223. The company has a market capitalization of $39.64 billion, a PE ratio of 28.95, a PEG ratio of 2.73 and a beta of 1.12. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a 12-month low of $145.02 and a 12-month high of $198.33. The business's 50 day simple moving average is $168.51 and its 200-day simple moving average is $179.56.

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

AMETEK declared that its Board of Directors has approved a stock buyback program on Friday, February 7th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the technology company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

AMETEK Announces Dividend

The company 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 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Friday, June 13th. AMETEK's dividend payout ratio is 20.29%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AME. Truist Financial increased their price target on shares of AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, May 5th. 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 report on Thursday, January 16th. Morgan Stanley began coverage on shares of AMETEK in a report on Monday, April 14th. They issued an "equal weight" rating and a $170.00 price target on the stock. Robert W. Baird dropped their price objective on AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada upped their target price on AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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.