USS Investment Management Ltd Trims Stock Position in AMETEK, Inc. (NYSE:AME)

USS Investment Management Ltd trimmed its position in AMETEK, Inc. (NYSE:AME - Free Report) by 18.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,893 shares of the technology company's stock after selling 9,127 shares during the quarter. USS Investment Management Ltd's holdings in AMETEK were worth $7,193,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in AMETEK by 4.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company's stock valued at $261,000 after acquiring an additional 63 shares during the last quarter. Kensington Investment Counsel LLC lifted its stake in shares of AMETEK by 0.5% in the 4th quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company's stock valued at $2,574,000 after purchasing an additional 66 shares during the last quarter. AlphaMark Advisors LLC increased its position in shares of AMETEK by 2.1% during the 4th quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company's stock worth $604,000 after purchasing an additional 70 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of AMETEK by 42.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company's stock worth $42,000 after purchasing an additional 70 shares during the last quarter. Finally, Quotient Wealth Partners LLC raised its holdings in AMETEK by 3.9% in the 4th quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company's stock valued at $332,000 after buying an additional 70 shares during the period. Hedge funds and other institutional investors own 87.43% of the company's stock.

AMETEK Stock Up 1.5%

Shares of NYSE:AME traded up $2.62 during trading on Tuesday, hitting $180.26. The company's stock had a trading volume of 251,754 shares, compared to its average volume of 1,285,861. AMETEK, Inc. has a fifty-two week low of $145.02 and a fifty-two week high of $198.33. The business has a 50 day moving average price of $168.64 and a two-hundred day moving average price of $179.64. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24. The company has a market capitalization of $41.62 billion, a PE ratio of 30.41, a P/E/G ratio of 2.73 and a beta of 1.12.

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

AMETEK announced that its board has authorized a share repurchase program on Friday, February 7th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the technology company to buy up to 2.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 dividend on an annualized basis and a dividend yield of 0.69%. AMETEK's payout ratio is 20.29%.

Insider Activity at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the transaction, the director now owns 22,029 shares of the company's stock, valued at $4,172,512.89. This represents a 5.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 value of $125,414.40. Following the completion of the transaction, the director now owns 10,560 shares in the company, valued at approximately $1,865,318.40. The trade was a 6.30% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AME. Robert W. Baird lowered their target price on shares of AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Morgan Stanley assumed coverage on shares of AMETEK in a research report on Monday, April 14th. They set an "equal weight" rating and a $170.00 price objective for the company. Royal Bank of Canada boosted their target price on AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Mizuho set a $212.00 price target on AMETEK in a research note on Friday, May 16th. Finally, Truist Financial raised their price target on AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, AMETEK has a consensus rating of "Moderate Buy" and a consensus price target of $197.89.

AMETEK Company 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.