Tandem Investment Advisors Inc. Invests $205,000 in AMETEK, Inc. (NYSE:AME)

Tandem Investment Advisors Inc. bought a new stake in AMETEK, Inc. (NYSE:AME) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,136 shares of the technology company’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp grew its stake in shares of AMETEK by 0.3% during the 3rd quarter. State Street Corp now owns 9,220,376 shares of the technology company’s stock valued at $1,583,231,000 after buying an additional 24,072 shares during the period. JPMorgan Chase & Co. boosted its holdings in AMETEK by 3.7% in the third quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company’s stock valued at $1,199,454,000 after acquiring an additional 250,538 shares during the last quarter. Geode Capital Management LLC grew its position in AMETEK by 0.8% during the third quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company’s stock valued at $924,308,000 after acquiring an additional 45,459 shares during the period. Flossbach Von Storch SE grew its position in AMETEK by 2.5% during the fourth quarter. Flossbach Von Storch SE now owns 3,724,352 shares of the technology company’s stock valued at $671,352,000 after acquiring an additional 91,287 shares during the period. Finally, EdgePoint Investment Group Inc. increased its stake in AMETEK by 87.9% during the third quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock worth $337,279,000 after acquiring an additional 918,737 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Bank of America upgraded AMETEK from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $195.00 to $225.00 in a report on Monday, December 16th. Mizuho boosted their price objective on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Friday. Truist Financial upped their price target on shares of AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, BNP Paribas upgraded AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target for the company in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $204.67.

Insider Transactions at AMETEK

In other AMETEK news, insider Emanuela Speranza sold 6,747 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the transaction, the insider now directly owns 30,460 shares in the company, valued at $5,967,114. This represents a 18.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.61% of the company’s stock.

AMETEK Stock Performance

AMETEK stock opened at $188.76 on Friday. AMETEK, Inc. has a 12-month low of $149.03 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 company has a market capitalization of $43.66 billion, a price-to-earnings ratio of 31.83, a price-to-earnings-growth ratio of 2.70 and a beta of 1.16. The firm’s fifty day moving average price is $182.97 and its 200 day moving average price is $177.77.

AMETEK (NYSE:AME) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.82 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.68 earnings per share. On average, research analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.31 per share. This is a boost from AMETEK’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, March 14th. AMETEK’s dividend payout ratio is 20.91%.

AMETEK declared that its Board of Directors has approved a stock repurchase program on Friday, February 7th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.