Gotham Asset Management LLC Sells 16,322 Shares of AMETEK, Inc. (NYSE:AME)

Gotham Asset Management LLC reduced its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 31.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,827 shares of the technology company's stock after selling 16,322 shares during the period. Gotham Asset Management LLC's holdings in AMETEK were worth $6,458,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Banque Transatlantique SA acquired a new position in AMETEK in the fourth quarter valued at approximately $37,000. AdvisorNet Financial Inc boosted its position in shares of AMETEK by 1,176.5% during the fourth quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company's stock worth $39,000 after buying an additional 200 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of AMETEK by 42.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company's stock worth $42,000 after buying an additional 70 shares during the period. OFI Invest Asset Management acquired a new position in shares of AMETEK during the fourth quarter worth approximately $43,000. Finally, Quent Capital LLC boosted its position in shares of AMETEK by 60.9% during the fourth quarter. Quent Capital LLC now owns 251 shares of the technology company's stock worth $45,000 after buying an additional 95 shares during the period. 87.43% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Stock Up 1.4%

NYSE:AME traded up $2.60 during trading hours on Friday, hitting $182.81. 1,167,568 shares of the stock traded hands, compared to its average volume of 1,296,916. The firm has a 50 day moving average price of $168.32 and a 200 day moving average price of $179.85. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a fifty-two week low of $145.02 and a fifty-two week high of $198.33. The firm has a market cap of $42.21 billion, a price-to-earnings ratio of 30.83, a PEG ratio of 2.73 and a beta of 1.12.

AMETEK (NYSE:AME - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share for the quarter, topping analysts' consensus estimates of $1.69 by $0.06. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The business 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 business posted $1.64 earnings per share. AMETEK's revenue for the quarter was down .2% compared to the same quarter last year. Equities research analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK announced that its board has authorized a stock buyback plan on Friday, February 7th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the technology company to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its shares are undervalued.

AMETEK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 0.68%. The ex-dividend date is Friday, June 13th. AMETEK's payout ratio is 20.29%.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of the company'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 completion of the sale, the director now directly owns 22,029 shares in the company, valued at $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 is available at the SEC website. Also, Director Thomas A. Amato sold 710 shares of the company's 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 owns 10,560 shares of the company's stock, valued at $1,865,318.40. This trade represents a 6.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.57% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AME shares. Morgan Stanley started coverage on 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 price objective on AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. StockNews.com upgraded AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Truist Financial boosted their price objective on AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Finally, Robert W. Baird cut their target price on AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. One research 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 stock. Based on data from MarketBeat.com, AMETEK presently has an average rating of "Moderate Buy" and an average target price of $196.90.

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.