Twinbeech Capital LP Reduces Stake in AMETEK, Inc. (NYSE:AME)

Twinbeech Capital LP trimmed its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 69.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,333 shares of the technology company's stock after selling 59,455 shares during the period. Twinbeech Capital LP's holdings in AMETEK were worth $4,747,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of AME. Two Sigma Advisers LP lifted its position in shares of AMETEK by 2.1% in the 4th quarter. Two Sigma Advisers LP now owns 313,900 shares of the technology company's stock worth $56,584,000 after purchasing an additional 6,400 shares during the period. Tidal Investments LLC increased its position in shares of AMETEK by 3.9% during the fourth quarter. Tidal Investments LLC now owns 12,398 shares of the technology company's stock worth $2,235,000 after buying an additional 460 shares during the period. State of Wyoming raised its stake in AMETEK by 17.9% during the fourth quarter. State of Wyoming now owns 2,794 shares of the technology company's stock worth $504,000 after buying an additional 424 shares during the last quarter. Toronto Dominion Bank lifted its holdings in AMETEK by 6.9% in the fourth quarter. Toronto Dominion Bank now owns 139,654 shares of the technology company's stock valued at $25,172,000 after buying an additional 9,032 shares during the period. Finally, Royal Bank of Canada boosted its position in AMETEK by 16.3% during the fourth quarter. Royal Bank of Canada now owns 1,387,670 shares of the technology company's stock valued at $250,142,000 after acquiring an additional 194,635 shares during the last quarter. 87.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Steven W. Kohlhagen sold 1,320 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total transaction of $250,021.20. Following the sale, the director now owns 22,029 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed 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. 0.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AME has been the topic of several recent analyst reports. Morgan Stanley began coverage on AMETEK in a research note on Monday, April 14th. They issued an "equal weight" rating and a $170.00 price target on the stock. Truist Financial boosted their price target on shares of AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Robert W. Baird dropped their price target on shares of AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock 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 stock an "outperform" rating in a research note on Friday, May 2nd. 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 analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $197.89.

AMETEK Stock Down 0.4%

Shares of AME stock traded down $0.80 during mid-day trading on Friday, hitting $177.74. The stock had a trading volume of 1,108,463 shares, compared to its average volume of 1,288,921. 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 12-month low of $145.02 and a 12-month high of $198.33. The firm's 50-day moving average is $168.59 and its two-hundred day moving average is $179.90. The firm has a market capitalization of $41.04 billion, a P/E ratio of 29.97, a price-to-earnings-growth ratio of 2.73 and a beta of 1.12.

AMETEK (NYSE:AME - Get Free Report) last announced its 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. The company had revenue of $1.73 billion for 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%. The firm's quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.64 EPS. On average, 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 approved a share repurchase plan on Friday, February 7th that allows the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.31 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.24 dividend on an annualized basis and a yield of 0.70%. 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.