AMETEK, Inc. (NYSE:AME) Shares Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC raised its holdings in AMETEK, Inc. (NYSE:AME) by 28.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,183 shares of the technology company’s stock after acquiring an additional 2,483 shares during the quarter. NEOS Investment Management LLC’s holdings in AMETEK were worth $2,016,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB lifted its stake in shares of AMETEK by 4.5% in the fourth 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 period. Kensington Investment Counsel LLC boosted its stake in shares of AMETEK by 0.5% during the 4th quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company’s stock worth $2,574,000 after acquiring an additional 66 shares in the last quarter. AlphaMark Advisors LLC grew its holdings in shares of AMETEK by 2.1% in the 4th quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company’s stock worth $604,000 after acquiring an additional 70 shares during the period. Geneos Wealth Management Inc. increased 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 in the last quarter. Finally, Quotient Wealth Partners LLC raised its holdings in AMETEK by 3.9% during the fourth quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company’s stock worth $332,000 after purchasing an additional 70 shares during the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Robert W. Baird dropped their price target on AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. 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. Truist Financial increased their price target on shares of AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. BNP Paribas upgraded AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective for the company in a research report on Thursday, January 16th. Finally, StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a report on Wednesday. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $204.67.

AMETEK Stock Performance

NYSE AME opened at $170.25 on Friday. The business’s 50-day moving average price is $182.60 and its 200 day moving average price is $180.80. 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, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33. The company has a market capitalization of $39.28 billion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14.

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

AMETEK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from AMETEK’s previous quarterly dividend of $0.28. AMETEK’s payout ratio is 20.91%.

AMETEK announced that its Board of Directors has approved a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at AMETEK

In related news, Director Thomas A. Amato sold 710 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total value of $125,414.40. Following the transaction, the director now owns 10,560 shares in the company, valued at approximately $1,865,318.40. This trade represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven W. Kohlhagen sold 1,320 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total transaction of $250,021.20. Following the sale, the director now owns 22,029 shares of the company’s stock, valued at approximately $4,172,512.89. This represents a 5.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.