New York Life Investment Management LLC Boosts Holdings in AMETEK, Inc. (NYSE:AME)

New York Life Investment Management LLC boosted its position in AMETEK, Inc. (NYSE:AME) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,945 shares of the technology company’s stock after buying an additional 211 shares during the period. New York Life Investment Management LLC’s holdings in AMETEK were worth $5,578,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB raised its stake in AMETEK by 4.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company’s stock valued at $261,000 after purchasing an additional 63 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in AMETEK by 42.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock valued at $42,000 after purchasing an additional 70 shares during the last quarter. AlphaMark Advisors LLC raised its stake in AMETEK by 2.1% in the 4th quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company’s stock valued at $604,000 after purchasing an additional 70 shares during the last quarter. Quotient Wealth Partners LLC grew its holdings in AMETEK by 3.9% in the 4th quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company’s stock valued at $332,000 after buying an additional 70 shares during the period. Finally, Howard Capital Management Inc. grew its holdings in AMETEK by 5.0% in the 4th quarter. Howard Capital Management Inc. now owns 1,501 shares of the technology company’s stock valued at $271,000 after buying an additional 72 shares during the period. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on AME. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a report on Saturday. Truist Financial lifted their price target on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a report on Thursday, January 16th. KeyCorp lifted their price target on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Robert W. Baird lowered their price target on AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Finally, Mizuho lifted their price target on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AMETEK presently has a consensus rating of “Moderate Buy” and an average price target of $204.67.

AMETEK Stock Up 1.0 %

Shares of NYSE:AME opened at $189.18 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24. AMETEK, Inc. has a 1 year low of $149.03 and a 1 year high of $198.33. The stock has a market capitalization of $43.64 billion, a P/E ratio of 31.90, a PEG ratio of 2.73 and a beta of 1.16. The stock has a 50-day simple moving average of $183.25 and a 200-day simple moving average of $179.06.

AMETEK (NYSE:AME) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.85 by $0.02. The firm 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%. AMETEK’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.68 EPS. Equities analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Increases Dividend

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

AMETEK declared that its board 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 purchase up to 2.9% of its shares through open market purchases. Shares buyback programs are often 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.