AMETEK, Inc. (NYSE:AME) Shares Sold by Mendel Money Management

Mendel Money Management lowered its stake in AMETEK, Inc. (NYSE:AME) by 5.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,297 shares of the technology company’s stock after selling 1,550 shares during the quarter. AMETEK accounts for approximately 2.3% of Mendel Money Management’s portfolio, making the stock its 10th largest position. Mendel Money Management’s holdings in AMETEK were worth $5,101,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AME. EdgePoint Investment Group Inc. boosted its holdings in AMETEK by 87.9% during the 3rd 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. American Century Companies Inc. boosted its position in shares of AMETEK by 240.3% in the fourth quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company’s stock valued at $202,805,000 after acquiring an additional 794,473 shares during the period. Principal Financial Group Inc. increased its holdings in shares of AMETEK by 72.0% in 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 during the period. Bryn Mawr Capital Management LLC raised its holdings in shares of AMETEK by 10,506.5% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 476,442 shares of the technology company’s stock valued at $812,000 after acquiring an additional 471,950 shares in the last quarter. Finally, D1 Capital Partners L.P. purchased a new position in AMETEK in the 3rd quarter worth approximately $79,782,000. Institutional investors own 87.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on AME. Bank of America upgraded shares of AMETEK from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $195.00 to $225.00 in a research report on Monday, December 16th. Robert W. Baird cut their price objective on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Truist Financial lifted their target price on AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a research note on Sunday, March 9th. Finally, BNP Paribas upgraded shares of 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 investment 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $204.67.

AMETEK Stock Performance

AMETEK stock opened at $179.69 on Wednesday. The stock has a market cap of $41.46 billion, a P/E ratio of 30.30, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $198.33. The stock has a 50 day moving average of $182.98 and a 200-day moving average of $180.83. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15.

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

AMETEK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.31 dividend. This is a boost from AMETEK’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, March 14th. AMETEK’s dividend payout ratio (DPR) is 20.91%.

AMETEK declared that its Board of Directors has approved a stock repurchase plan on Friday, February 7th that permits the company to buyback $1.25 billion in shares. This buyback authorization permits the technology company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the completion of the sale, the director now directly owns 22,029 shares in the company, valued at $4,172,512.89. This represents a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.61% 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.