Schonfeld Strategic Advisors LLC Raises Holdings in AMETEK, Inc. (NYSE:AME)

Schonfeld Strategic Advisors LLC boosted its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 1,279.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 293,811 shares of the technology company's stock after purchasing an additional 272,514 shares during the quarter. Schonfeld Strategic Advisors LLC owned approximately 0.13% of AMETEK worth $52,962,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AME. Principal Financial Group Inc. boosted its position in AMETEK by 72.0% during the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company's stock worth $288,526,000 after purchasing an additional 703,501 shares in the last quarter. Anchor Investment Management LLC boosted its position in AMETEK by 366.1% during the third quarter. Anchor Investment Management LLC now owns 261 shares of the technology company's stock worth $45,000 after purchasing an additional 205 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in AMETEK during the third quarter worth approximately $2,336,000. Tidal Investments LLC boosted its position in AMETEK by 27.0% during the third quarter. Tidal Investments LLC now owns 11,938 shares of the technology company's stock worth $2,050,000 after purchasing an additional 2,540 shares in the last quarter. Finally, Peapack Gladstone Financial Corp boosted its position in AMETEK by 3.0% during the third quarter. Peapack Gladstone Financial Corp now owns 33,034 shares of the technology company's stock worth $5,672,000 after purchasing an additional 958 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

AMETEK Trading Down 0.3 %

Shares of AME stock opened at $166.24 on Tuesday. The company's 50-day moving average price is $171.63 and its 200-day moving average price is $179.53. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. The stock has a market cap of $38.36 billion, a price-to-earnings ratio of 28.03, a PEG ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a twelve month low of $145.02 and a twelve month high of $198.33.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.02. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The firm had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.82 billion. During the same quarter in the previous year, the company posted $1.68 EPS. The company's revenue was up 1.8% compared to the same quarter last year. As a group, equities analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current year.

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

AMETEK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.31 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a yield of 0.75%. This is a boost from AMETEK's previous quarterly dividend of $0.28. AMETEK's dividend payout ratio is presently 20.91%.

Insider Buying and Selling at AMETEK

In other AMETEK news, Director Thomas A. Amato sold 710 shares of the business'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 directly owns 10,560 shares in the company, valued at $1,865,318.40. This represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven W. Kohlhagen sold 1,320 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $189.41, for a total transaction of $250,021.20. Following the sale, the director now owns 22,029 shares in the company, valued at $4,172,512.89. This trade 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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Morgan Stanley assumed coverage on AMETEK in a report on Monday, April 14th. They set an "equal weight" rating and a $170.00 target price for the company. BNP Paribas raised AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 target price for the company in a report on Thursday, January 16th. Truist Financial reduced their target price on AMETEK from $216.00 to $196.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Robert W. Baird reduced their target price on AMETEK from $200.00 to $197.00 and set a "neutral" rating for the company in a report on Wednesday, February 5th. Finally, StockNews.com cut AMETEK from a "buy" rating to a "hold" rating in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, AMETEK presently has a consensus rating of "Moderate Buy" and a consensus price target of $198.60.

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.

Want to see what other hedge funds are holding AME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AMETEK, Inc. (NYSE:AME - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.