Ethic Inc. Boosts Stock Position in AMETEK, Inc. (NYSE:AME)

Ethic Inc. raised its position in AMETEK, Inc. (NYSE:AME - Free Report) by 21.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,192 shares of the technology company's stock after buying an additional 3,588 shares during the quarter. Ethic Inc.'s holdings in AMETEK were worth $3,640,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in AME. Norges Bank bought a new stake in shares of AMETEK in the fourth quarter valued at $697,080,000. Capital World Investors raised its stake in shares of AMETEK by 70.0% in the fourth quarter. Capital World Investors now owns 5,760,017 shares of the technology company's stock valued at $1,038,301,000 after buying an additional 2,371,062 shares during the period. American Century Companies Inc. raised its stake in shares of AMETEK by 240.3% in the fourth quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company's stock valued at $202,805,000 after buying an additional 794,473 shares during the period. Alteri Wealth LLC bought a new stake in shares of AMETEK in the fourth quarter valued at $114,769,000. Finally, Bryn Mawr Capital Management LLC grew its position in shares of AMETEK by 10,506.5% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 476,442 shares of the technology company's stock valued at $812,000 after purchasing an additional 471,950 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors.

AMETEK Trading Up 1.1%

AME traded up $2.02 during midday trading on Friday, reaching $182.23. 409,383 shares of the company's stock traded hands, compared to its average volume of 1,292,703. The firm has a fifty day moving average of $168.25 and a two-hundred day moving average of $179.74. The stock has a market capitalization of $42.07 billion, a price-to-earnings ratio of 30.73, a P/E/G ratio of 2.73 and a beta of 1.12. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week high of $198.33.

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

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.31 per share. 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 0.68%. AMETEK's dividend payout ratio (DPR) is 20.29%.

AMETEK announced that its board has authorized a stock repurchase program on Friday, February 7th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other AMETEK news, Director Thomas A. Amato sold 710 shares of the company'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 in the company, valued at approximately $1,865,318.40. This represents a 6.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven W. Kohlhagen sold 1,320 shares of the company's 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 transaction, the director now owns 22,029 shares in the company, valued at $4,172,512.89. This trade 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.

About AMETEK

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.