Mufg Securities Americas Inc. Invests $616,000 in AMETEK, Inc. (NYSE:AME)

Mufg Securities Americas Inc. bought a new stake in AMETEK, Inc. (NYSE:AME - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,415 shares of the technology company's stock, valued at approximately $616,000.

Several other institutional investors have also modified their holdings of AME. National Bank of Canada FI grew its holdings in AMETEK by 17.4% during the 4th quarter. National Bank of Canada FI now owns 142,093 shares of the technology company's stock worth $25,616,000 after acquiring an additional 21,009 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in AMETEK by 16.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,898 shares of the technology company's stock valued at $16,025,000 after purchasing an additional 12,584 shares during the last quarter. Fox Run Management L.L.C. grew its stake in shares of AMETEK by 74.1% in the fourth quarter. Fox Run Management L.L.C. now owns 8,418 shares of the technology company's stock worth $1,517,000 after purchasing an additional 3,584 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in AMETEK by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,331,567 shares of the technology company's stock valued at $240,028,000 after buying an additional 39,918 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in AMETEK by 1.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 199,631 shares of the technology company's stock valued at $35,986,000 after purchasing an additional 2,868 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company's stock.

Analysts Set New Price Targets

AME has been the subject of a number of recent research reports. Royal Bank of Canada increased their price objective on AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Truist Financial lifted their price target on AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a report on Monday, May 5th. StockNews.com raised AMETEK from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Robert W. Baird lowered 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. Finally, Mizuho set a $212.00 price target on shares of AMETEK in a research note on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $198.10.

AMETEK Stock Performance

AMETEK stock traded down $0.98 on Monday, hitting $181.77. The company's stock had a trading volume of 894,445 shares, compared to its average volume of 1,293,999. AMETEK, Inc. has a one year low of $145.02 and a one year high of $198.33. The firm has a market cap of $41.97 billion, a P/E ratio of 30.65, a price-to-earnings-growth ratio of 2.73 and a beta of 1.12. The company has a fifty day moving average price of $168.32 and a 200-day moving average price of $179.90. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15.

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

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.31 dividend. 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%.

AMETEK announced that its board has authorized a share buyback program on Friday, February 7th that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the technology company to purchase up to 2.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Activity at AMETEK

In related news, Director Thomas A. Amato sold 710 shares of AMETEK 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 transaction, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Steven W. Kohlhagen sold 1,320 shares of the company's 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 sale, the director now owns 22,029 shares of the company's stock, valued at approximately $4,172,512.89. This represents a 5.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.

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.