Centiva Capital LP Takes $2.07 Million Position in AMETEK, Inc. (NYSE:AME)

Centiva Capital LP acquired a new position in shares of AMETEK, Inc. (NYSE:AME - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 11,461 shares of the technology company's stock, valued at approximately $2,066,000.

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

AMETEK Trading Up 0.1 %

AME traded up $0.12 during trading on Friday, hitting $171.69. The company's stock had a trading volume of 1,257,909 shares, compared to its average volume of 1,288,841. AMETEK, Inc. has a twelve month low of $145.02 and a twelve month high of $198.33. The firm's 50 day moving average price is $168.51 and its 200-day moving average price is $179.39. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75. The stock has a market cap of $39.64 billion, a PE ratio of 28.95, a PEG ratio of 2.73 and a beta of 1.12.

AMETEK (NYSE:AME - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share 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 period in the prior year, the business posted $1.64 earnings per share. The firm's revenue for the quarter was down .2% compared to the same quarter last year. On average, analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK announced that its Board of Directors has initiated a stock repurchase plan on Friday, February 7th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes 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 management believes its shares are undervalued.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.72%. AMETEK's dividend payout ratio (DPR) is presently 20.29%.

Insider Activity

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the 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 sale, the director now owns 22,029 shares of the company's stock, valued at approximately $4,172,512.89. This represents a 5.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas A. Amato sold 710 shares of AMETEK stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total transaction 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 trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. BNP Paribas upgraded shares of AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price target for the company in a research report on Thursday, January 16th. Truist Financial increased their target price on shares of AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday. StockNews.com downgraded AMETEK from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Royal Bank of Canada lifted their target price on AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Finally, Morgan Stanley started coverage on AMETEK in a research note on Monday, April 14th. They set an "equal weight" rating and a $170.00 price target for the company. 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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.