Two Sigma Investments LP Sells 95,501 Shares of AMETEK, Inc. (NYSE:AME)

Two Sigma Investments LP reduced its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 32.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 201,109 shares of the technology company's stock after selling 95,501 shares during the quarter. Two Sigma Investments LP owned approximately 0.09% of AMETEK worth $36,252,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AME. Banque Transatlantique SA bought a new stake in AMETEK during the 4th quarter valued at $37,000. Geneos Wealth Management Inc. raised its holdings in AMETEK by 42.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company's stock valued at $42,000 after buying an additional 70 shares during the last quarter. OFI Invest Asset Management bought a new position in AMETEK in the 4th quarter worth $43,000. Minot DeBlois Advisors LLC bought a new position in AMETEK in the 4th quarter worth $43,000. Finally, Quent Capital LLC raised its holdings in AMETEK by 60.9% in the 4th quarter. Quent Capital LLC now owns 251 shares of the technology company's stock worth $45,000 after purchasing an additional 95 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors.

AMETEK Stock Down 0.4%

Shares of NYSE:AME traded down $0.80 during midday trading on Friday, reaching $177.74. The company's stock had a trading volume of 1,108,463 shares, compared to its average volume of 1,288,922. The firm has a 50 day moving average of $168.63 and a 200-day moving average of $179.87. The firm has a market capitalization of $41.04 billion, a P/E ratio of 29.97, a PEG ratio of 2.73 and a beta of 1.12. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a 12-month low of $145.02 and a 12-month high of $198.33.

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

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given 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 dividend payout ratio (DPR) is 20.29%.

AMETEK announced that its Board of Directors has initiated a share repurchase plan on Friday, February 7th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have commented on AME. Mizuho set a $212.00 price objective on shares of AMETEK in a report on Friday, May 16th. Wall Street Zen upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Royal Bank of Canada upped their price objective on shares of AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Truist Financial upped their price objective on shares of AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Finally, Robert W. Baird decreased their price objective on shares of AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. One research 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $197.89.

Insider Activity at AMETEK

In related news, Director Thomas A. Amato sold 710 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $176.64, for a total transaction of $125,414.40. Following the sale, the director now directly owns 10,560 shares of the company's stock, valued at approximately $1,865,318.40. This represents a 6.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,320 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $189.41, for a total transaction of $250,021.20. Following the sale, the director now directly owns 22,029 shares in the company, valued at approximately $4,172,512.89. The trade was a 5.65% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.

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.