MJP Associates Inc. ADV Reduces Stock Holdings in AMETEK, Inc. (NYSE:AME)

MJP Associates Inc. ADV trimmed its position in AMETEK, Inc. (NYSE:AME - Free Report) by 71.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,544 shares of the technology company's stock after selling 3,814 shares during the quarter. MJP Associates Inc. ADV's holdings in AMETEK were worth $278,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Moore Capital Management LP purchased a new stake in shares of AMETEK in the fourth quarter worth about $4,420,000. Lazard Asset Management LLC lifted its holdings in shares of AMETEK by 393.1% in the fourth quarter. Lazard Asset Management LLC now owns 1,215,087 shares of the technology company's stock worth $219,030,000 after buying an additional 968,661 shares in the last quarter. Lighthouse Investment Partners LLC purchased a new stake in shares of AMETEK in the fourth quarter worth about $1,803,000. Graham Capital Management L.P. purchased a new stake in shares of AMETEK in the fourth quarter worth about $4,090,000. Finally, Focus Partners Wealth lifted its holdings in shares of AMETEK by 11.3% in the fourth quarter. Focus Partners Wealth now owns 8,865 shares of the technology company's stock worth $1,733,000 after buying an additional 902 shares in the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

AMETEK Price Performance

NYSE AME traded up $2.60 on Friday, reaching $182.81. 1,167,568 shares of the company's stock traded hands, compared to its average volume of 1,296,916. AMETEK, Inc. has a 12 month low of $145.02 and a 12 month 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 stock has a 50-day simple moving average of $168.32 and a 200 day simple moving average of $179.85. The stock has a market cap of $42.21 billion, a PE ratio of 30.83, a P/E/G ratio of 2.73 and a beta of 1.12.

AMETEK (NYSE:AME - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, beating 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 analysts' expectations of $1.74 billion. During the same period last year, the business earned $1.64 earnings per share. The business's quarterly revenue was down .2% on a year-over-year basis. As a group, research analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK declared that its Board of Directors has initiated a stock repurchase program on Friday, February 7th that permits the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

AMETEK Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Friday, June 13th. AMETEK's payout ratio is currently 20.29%.

Insider Buying and Selling at AMETEK

In other news, 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 value of $250,021.20. Following the transaction, the director now owns 22,029 shares in the company, valued at approximately $4,172,512.89. This trade represents a 5.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas A. Amato sold 710 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total transaction 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 represents a 6.30% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.57% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AME. 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 research report on Friday, May 2nd. Robert W. Baird decreased their price objective 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. 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 research report on Monday, May 5th. Morgan Stanley began coverage on shares of AMETEK in a research report on Monday, April 14th. They issued an "equal weight" rating and a $170.00 price objective on the stock. Finally, StockNews.com upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $196.90.

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.