UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Holdings in AMETEK, Inc. (NYSE:AME)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,512,437 shares of the technology company's stock after purchasing an additional 107,303 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.65% of AMETEK worth $272,632,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AME. Banque Transatlantique SA purchased a new position in AMETEK in the 4th quarter valued at about $37,000. Geneos Wealth Management Inc. raised its position in shares of AMETEK by 42.9% in the fourth 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 purchased a new position in shares of AMETEK during the fourth quarter valued at approximately $43,000. Minot DeBlois Advisors LLC acquired a new stake in AMETEK during the fourth quarter worth approximately $43,000. Finally, Quent Capital LLC grew its stake 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 acquiring an additional 95 shares during the period. 87.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AMETEK

In other 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 transaction, the director now owns 10,560 shares of the company's stock, valued at approximately $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 SEC, which is accessible through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,320 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were 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 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 disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.

AMETEK Stock Performance

Shares of AME stock opened at $177.67 on Thursday. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. The company has a market cap of $41.02 billion, a PE ratio of 29.96, a P/E/G ratio of 2.73 and a beta of 1.12. The company's fifty day simple moving average is $168.60 and its 200-day simple moving average is $179.91. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week high of $198.33.

AMETEK (NYSE:AME - Get Free Report) last released 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. 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 revenue was down .2% compared to the same quarter last year. During the same period last year, the company posted $1.64 earnings per share. As a group, equities research analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK declared that its Board of Directors has approved a stock repurchase program on Friday, February 7th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the technology company to buy up to 2.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Friday, June 13th. AMETEK's dividend payout ratio (DPR) is 20.29%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. StockNews.com upgraded AMETEK from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Truist Financial increased their target price on AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. 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 note on Friday, May 2nd. Morgan Stanley initiated coverage on shares of AMETEK in a research note on Monday, April 14th. They set an "equal weight" rating and a $170.00 price objective for the company. Finally, Robert W. Baird decreased their target price on shares of AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $198.10.

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.

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