Aigen Investment Management LP Acquires New Position in AMETEK, Inc. (NYSE:AME)

Aigen Investment Management LP purchased a new stake in AMETEK, Inc. (NYSE:AME) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,768 shares of the technology company’s stock, valued at approximately $1,400,000.

Several other large investors have also modified their holdings of AME. EdgePoint Investment Group Inc. raised its holdings 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 purchasing an additional 918,737 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of AMETEK by 72.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after purchasing an additional 703,501 shares in the last quarter. 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 purchasing an additional 471,950 shares in the last quarter. D1 Capital Partners L.P. bought a new stake in shares of AMETEK in the 3rd quarter valued at about $79,782,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of AMETEK by 434.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company’s stock valued at $97,614,000 after purchasing an additional 440,197 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Stock Up 1.0 %

NYSE:AME opened at $185.07 on Thursday. The company has a market cap of $42.69 billion, a PE ratio of 31.21, a P/E/G ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33. 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 company’s 50 day moving average is $183.34 and its two-hundred day moving average is $179.66.

AMETEK (NYSE:AME) last released its earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, topping the consensus estimate 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 net margin of 19.83% and a return on equity of 16.94%. AMETEK’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.68 EPS. Analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current year.

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

AMETEK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 0.67%. This is a boost from AMETEK’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, March 14th. AMETEK’s payout ratio is presently 20.91%.

Insider Buying and Selling at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of AMETEK stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $189.41, for a total transaction of $250,021.20. Following the completion of the sale, the director now directly owns 22,029 shares in the company, valued at approximately $4,172,512.89. The trade was a 5.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AME. Robert W. Baird reduced their price target on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 1st. BNP Paribas raised shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research report on Thursday, January 16th. Truist Financial lifted their price objective 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, Bank of America raised shares of AMETEK from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $195.00 to $225.00 in a research report on Monday, December 16th. One equities 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, AMETEK presently has an average rating of “Moderate Buy” and a consensus target price of $204.67.

About AMETEK

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.