AMETEK, Inc. (NYSE:AME) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers lifted its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 3.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 457,301 shares of the technology company's stock after acquiring an additional 13,213 shares during the period. Rhumbline Advisers owned 0.20% of AMETEK worth $78,720,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AME. Banque Transatlantique SA purchased a new stake in shares of AMETEK in the fourth quarter worth about $37,000. OFI Invest Asset Management purchased a new stake in shares of AMETEK during the 4th quarter worth approximately $43,000. Minot DeBlois Advisors LLC bought a new position in shares of AMETEK during the 4th quarter valued at approximately $43,000. Quent Capital LLC grew its holdings in shares of AMETEK by 60.9% in the fourth quarter. Quent Capital LLC now owns 251 shares of the technology company's stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Ancora Advisors LLC increased its position in AMETEK by 15,950.0% in the fourth quarter. Ancora Advisors LLC now owns 321 shares of the technology company's stock worth $58,000 after purchasing an additional 319 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

AMETEK Trading Down 0.2%

Shares of NYSE AME traded down $0.33 during mid-day trading on Thursday, reaching $176.88. The company had a trading volume of 1,112,212 shares, compared to its average volume of 1,292,481. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week high of $198.33. The business's 50-day moving average is $169.00 and its 200-day moving average is $179.11. The stock has a market cap of $40.84 billion, a price-to-earnings ratio of 29.83, a price-to-earnings-growth 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 (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 analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the business earned $1.64 earnings per share. AMETEK's quarterly revenue was down .2% on a year-over-year basis. Equities analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK announced that its board has authorized a share repurchase plan on Friday, February 7th that permits the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization permits the technology company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

AMETEK Dividend Announcement

The firm also recently disclosed 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 yield of 0.70%. The ex-dividend date of this dividend is Friday, June 13th. AMETEK's payout ratio is 20.29%.

Insider Activity

In related news, Director Thomas A. Amato sold 710 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $176.64, for a total transaction of $125,414.40. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on AME shares. Morgan Stanley initiated coverage on shares of AMETEK in a research note on Monday, April 14th. They issued an "equal weight" rating and a $170.00 price objective for the company. Mizuho set a $212.00 price objective on AMETEK in a research note on Friday, May 16th. Truist Financial raised their price objective on AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Wall Street Zen raised AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Royal Bank of Canada raised their price target 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 given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $197.89.

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.