AMETEK, Inc. (NYSE:AME) Shares Bought by Seascape Capital Management

Seascape Capital Management increased its stake in AMETEK, Inc. (NYSE:AME) by 0.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,655 shares of the technology company’s stock after acquiring an additional 125 shares during the quarter. Seascape Capital Management’s holdings in AMETEK were worth $2,822,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp increased its stake in AMETEK by 0.3% in the 3rd quarter. State Street Corp now owns 9,220,376 shares of the technology company’s stock worth $1,583,231,000 after purchasing an additional 24,072 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of AMETEK by 3.7% in the third quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company’s stock worth $1,199,454,000 after acquiring an additional 250,538 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of 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. EdgePoint Investment Group Inc. lifted its position in shares of AMETEK by 87.9% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock valued at $337,279,000 after acquiring an additional 918,737 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in AMETEK by 72.0% during the 3rd 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. 87.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other AMETEK news, insider Tony J. Ciampitti sold 16,210 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $197.01, for a total value of $3,193,532.10. Following the sale, the insider now directly owns 49,490 shares in the company, valued at $9,750,024.90. This trade represents a 24.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Emanuela Speranza sold 6,747 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $5,967,114. This represents a 18.13 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

AMETEK Stock Performance

AME opened at $183.42 on Friday. The stock has a 50-day moving average of $183.19 and a 200-day moving average of $177.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.84 and a current ratio of 1.24. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week high of $198.33. The company has a market cap of $42.43 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16.

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

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

AMETEK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued 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 dividend on an annualized basis and a dividend yield of 0.68%. AMETEK’s payout ratio is 20.91%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a research report on Thursday. Truist Financial upped their target price on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a report on Thursday, January 16th. 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. Mizuho upped their price objective on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, KeyCorp boosted their price target on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, AMETEK has a consensus rating of “Moderate Buy” and a consensus price target of $204.67.

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.