Worldquant Millennium Advisors LLC Makes New Investment in AMETEK, Inc. (NYSE:AME)

Worldquant Millennium Advisors LLC bought a new position in shares of AMETEK, Inc. (NYSE:AME - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 23,640 shares of the technology company's stock, valued at approximately $4,261,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Woodline Partners LP raised its holdings in AMETEK by 890.7% during the fourth quarter. Woodline Partners LP now owns 34,357 shares of the technology company's stock worth $6,193,000 after acquiring an additional 30,889 shares in the last quarter. Vident Advisory LLC raised its stake in AMETEK by 11.8% in the fourth quarter. Vident Advisory LLC now owns 6,887 shares of the technology company's stock valued at $1,242,000 after buying an additional 728 shares during the period. Two Sigma Advisers LP raised its stake in AMETEK by 2.1% in the fourth quarter. Two Sigma Advisers LP now owns 313,900 shares of the technology company's stock valued at $56,584,000 after buying an additional 6,400 shares during the period. Tidal Investments LLC raised its stake in AMETEK by 3.9% in the fourth quarter. Tidal Investments LLC now owns 12,398 shares of the technology company's stock valued at $2,235,000 after buying an additional 460 shares during the period. Finally, State of Wyoming raised its stake in AMETEK by 17.9% in the fourth quarter. State of Wyoming now owns 2,794 shares of the technology company's stock valued at $504,000 after buying an additional 424 shares during the period. Institutional investors own 87.43% of the company's stock.

Wall Street Analyst Weigh In

AME has been the topic of several research analyst reports. Royal Bank of Canada upped their price objective on AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Mizuho set a $212.00 price objective on AMETEK in a research note on Friday, May 16th. Truist Financial upped their target price 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 decreased their target price on AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Finally, Wall Street Zen raised AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $197.89.

Insider Transactions at AMETEK

In related news, Director Thomas A. Amato sold 710 shares of the firm's stock in a transaction that occurred on 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 $1,865,318.40. This trade represents a 6.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,320 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $189.41, for a total transaction of $250,021.20. Following the completion of the transaction, the director now owns 22,029 shares of the company's stock, valued at approximately $4,172,512.89. This trade represents a 5.65% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.57% of the company's stock.

AMETEK Price Performance

NYSE:AME traded up $2.45 during trading hours on Tuesday, reaching $180.09. 224,967 shares of the company were exchanged, compared to its average volume of 1,371,268. The company has a market capitalization of $41.58 billion, a P/E ratio of 30.37, a P/E/G ratio of 2.73 and a beta of 1.12. AMETEK, Inc. has a 1-year low of $145.02 and a 1-year high of $198.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75. The business has a 50 day moving average of $168.64 and a 200 day moving average of $179.64.

AMETEK (NYSE:AME - Get Free Report) last issued its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share 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 for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the business posted $1.64 EPS. The company's revenue was down .2% compared to the same quarter last year. Research analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.31 dividend. 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 dividend payout ratio (DPR) is currently 20.29%.

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

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.