Rhumbline Advisers Has $78.72 Million Stock Holdings in AMETEK, Inc. (NYSE:AME)

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

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of AMETEK by 1.1% in the fourth 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 during the period. FMR LLC boosted its position 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 acquiring an additional 98,546 shares during the period. JPMorgan Chase & Co. boosted 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 valued at $1,199,454,000 after acquiring an additional 250,538 shares during the period. Capital World Investors boosted 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 valued at $1,038,301,000 after acquiring an additional 2,371,062 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of AMETEK by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 5,526,369 shares of the technology company's stock valued at $993,546,000 after acquiring an additional 124,713 shares during the period. Institutional investors own 87.43% of the company's stock.

Insiders Place Their Bets

In other AMETEK news, 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 transaction of $125,414.40. Following the completion of the transaction, the director now directly owns 10,560 shares in the company, valued at $1,865,318.40. This represents a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AME shares. Truist Financial increased their price objective 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 cut their target price on AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Royal Bank of Canada upped 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. Morgan Stanley started coverage on AMETEK in a research note on Monday, April 14th. They issued an "equal weight" rating and a $170.00 target price for the company. Finally, Mizuho set a $212.00 target price on AMETEK in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $197.89.

AMETEK Price Performance

AMETEK stock traded up $1.51 during mid-day trading on Friday, hitting $178.44. 1,041,040 shares of the company were exchanged, compared to its average volume of 1,293,428. 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 business has a fifty day moving average of $169.22 and a 200 day moving average of $178.89. AMETEK, Inc. has a 1-year low of $145.02 and a 1-year high of $198.33. The company has a market capitalization of $41.20 billion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 2.73 and a beta of 1.12.

AMETEK (NYSE:AME - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the prior year, the company posted $1.64 earnings per share. The business's revenue for the quarter was down .2% compared to the same quarter last year. As a group, sell-side analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK announced that its Board of Directors has authorized a share buyback plan on Friday, February 7th that allows the company to repurchase $1.25 billion in shares. This repurchase authorization allows the technology company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its stock is undervalued.

AMETEK Announces Dividend

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