Moore Capital Management LP Takes Position in AMETEK, Inc. (NYSE:AME)

Moore Capital Management LP bought a new stake in AMETEK, Inc. (NYSE:AME - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,521 shares of the technology company's stock, valued at approximately $4,420,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. National Bank of Canada FI grew its stake in AMETEK by 17.4% in the fourth quarter. National Bank of Canada FI now owns 142,093 shares of the technology company's stock valued at $25,616,000 after purchasing an additional 21,009 shares in the last quarter. Czech National Bank boosted its stake in shares of AMETEK by 6.3% during the 4th quarter. Czech National Bank now owns 50,153 shares of the technology company's stock worth $9,041,000 after acquiring an additional 2,987 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of AMETEK by 434.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company's stock worth $97,614,000 after acquiring an additional 440,197 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of AMETEK by 16.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,898 shares of the technology company's stock worth $16,025,000 after acquiring an additional 12,584 shares in the last quarter. Finally, Fox Run Management L.L.C. boosted its stake in shares of AMETEK by 74.1% during the 4th quarter. Fox Run Management L.L.C. now owns 8,418 shares of the technology company's stock worth $1,517,000 after acquiring an additional 3,584 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

AMETEK Price Performance

Shares of AMETEK stock traded up $2.60 during midday trading on Friday, hitting $182.81. 1,167,568 shares of the company were exchanged, compared to its average volume of 1,296,916. 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 firm has a market cap of $42.21 billion, a P/E ratio of 30.83, a PEG ratio of 2.73 and a beta of 1.12. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week high of $198.33. The firm has a 50 day simple moving average of $168.25 and a 200-day simple moving average of $179.74.

AMETEK (NYSE:AME - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.69 by $0.06. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. AMETEK's revenue was down .2% on a year-over-year basis. During the same quarter last year, the company earned $1.64 EPS. Research analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Dividend Announcement

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 issued a $0.31 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.68%. AMETEK's dividend payout ratio is 20.29%.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Robert W. Baird decreased their price target on AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Truist Financial lifted their price objective on AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Royal Bank of Canada upped their price target on AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. BNP Paribas upgraded shares of AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price target on the stock in a research report on Thursday, January 16th. Finally, StockNews.com raised AMETEK from a "hold" rating to a "buy" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $196.90.

Insiders Place Their Bets

In other AMETEK news, Director Thomas A. Amato sold 710 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the transaction, the director now directly owns 10,560 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,320 shares of the stock in a transaction 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 completion of the transaction, the director now owns 22,029 shares in the company, valued at $4,172,512.89. The trade was a 5.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.57% of the company's stock.

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.