Cypress Advisory Group LLC Acquires Shares of 8,125 AMETEK, Inc. (NYSE:AME)

Cypress Advisory Group LLC purchased a new position in shares of AMETEK, Inc. (NYSE:AME - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,125 shares of the technology company's stock, valued at approximately $1,465,000. AMETEK makes up approximately 1.3% of Cypress Advisory Group LLC's holdings, making the stock its 22nd biggest holding.

Several other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc raised its stake in shares of AMETEK by 3,116.7% during the 4th 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 stake in AMETEK by 1,176.5% during the 4th quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company's stock worth $39,000 after buying an additional 200 shares during the last quarter. Geneos Wealth Management Inc. increased its position in AMETEK by 42.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company's stock valued at $42,000 after buying an additional 70 shares in the last quarter. OFI Invest Asset Management purchased a new stake in AMETEK in the fourth quarter valued at about $43,000. Finally, Anchor Investment Management LLC boosted its holdings in AMETEK by 366.1% in the third quarter. Anchor Investment Management LLC now owns 261 shares of the technology company's stock worth $45,000 after acquiring an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

Analysts Set New Price Targets

AME has been the topic of several research reports. BNP Paribas raised AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 target price on the stock in a research report on Thursday, January 16th. Robert W. Baird dropped their target price on shares of AMETEK from $200.00 to $197.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. StockNews.com lowered shares of AMETEK from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Truist Financial dropped their price objective on shares of AMETEK from $216.00 to $196.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Morgan Stanley started coverage on shares of AMETEK in a research note on Monday, April 14th. They issued an "equal weight" rating and a $170.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $197.20.

Insider Activity

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the company'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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas A. Amato sold 710 shares of the business's stock in a transaction that occurred 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 transaction, the director now owns 10,560 shares of the company's stock, valued at $1,865,318.40. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.57% of the company's stock.

AMETEK Trading Up 1.7 %

NYSE AME traded up $2.89 during trading hours on Friday, reaching $170.15. The company had a trading volume of 1,160,346 shares, compared to its average volume of 1,290,940. AMETEK, Inc. has a 1-year low of $145.02 and a 1-year high of $198.33. The stock has a market capitalization of $39.26 billion, a P/E ratio of 28.69, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. The stock has a 50-day moving average of $170.16 and a 200 day moving average of $179.42. 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 (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. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the firm earned $1.64 EPS. The firm's revenue for the quarter was down .2% on a year-over-year basis. As a group, research analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Friday, March 14th. This is a boost from AMETEK's previous quarterly dividend of $0.28. AMETEK's dividend payout ratio is currently 20.91%.

AMETEK announced that its Board of Directors has authorized a stock repurchase program on Friday, February 7th that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the technology company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are 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.