Quantinno Capital Management LP Buys 8,965 Shares of AMETEK, Inc. (NYSE:AME)

Quantinno Capital Management LP lifted its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 61.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,579 shares of the technology company's stock after buying an additional 8,965 shares during the period. Quantinno Capital Management LP's holdings in AMETEK were worth $4,251,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in AMETEK by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 26,147,772 shares of the technology company's stock valued at $4,713,397,000 after acquiring an additional 282,208 shares in the last quarter. FMR LLC raised its holdings in shares of AMETEK by 1.1% in the fourth quarter. FMR LLC now owns 8,956,329 shares of the technology company's stock valued at $1,614,468,000 after purchasing an additional 98,546 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of AMETEK by 3.7% in the third quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company's stock worth $1,199,454,000 after purchasing an additional 250,538 shares in the last quarter. Capital World Investors lifted its position 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 worth $1,038,301,000 after purchasing an additional 2,371,062 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in AMETEK by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 5,526,369 shares of the technology company's stock worth $993,546,000 after purchasing an additional 124,713 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the business's stock in a transaction 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 completion of the sale, the director now directly owns 22,029 shares in the company, valued at $4,172,512.89. The trade was a 5.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $125,414.40. Following the transaction, the director now owns 10,560 shares in the company, valued at $1,865,318.40. The trade was a 6.30% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AME. Royal Bank of Canada boosted their price target on shares of AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Truist Financial increased 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 decreased their price target on AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Morgan Stanley assumed coverage on AMETEK in a research note on Monday, April 14th. They set an "equal weight" rating and a $170.00 price objective on the stock. Finally, Wall Street Zen raised shares of AMETEK from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $198.10.

AMETEK Stock Performance

Shares of NYSE AME traded up $0.87 during midday trading on Thursday, hitting $178.55. 787,379 shares of the company's stock were exchanged, compared to its average volume of 1,292,376. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $41.22 billion, a PE ratio of 30.11, a price-to-earnings-growth ratio of 2.73 and a beta of 1.12. AMETEK, Inc. has a 12 month low of $145.02 and a 12 month high of $198.33. The company's 50 day moving average price is $168.60 and its 200 day moving average price is $179.91.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating 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 business 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 posted $1.64 EPS. The company's quarterly revenue was down .2% on a year-over-year basis. As a group, analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK declared that its Board of Directors has initiated a share buyback 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 buy up to 2.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, June 13th. AMETEK's payout ratio is 20.29%.

AMETEK 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.