AMETEK, Inc. (NYSE:AME) Shares Bought by Huntington National Bank

Huntington National Bank lifted its position in shares of AMETEK, Inc. (NYSE:AME) by 9.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,237 shares of the technology company’s stock after buying an additional 189 shares during the quarter. Huntington National Bank’s holdings in AMETEK were worth $403,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. MassMutual Private Wealth & Trust FSB grew its position 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 last quarter. Kensington Investment Counsel LLC raised its holdings in shares of AMETEK by 0.5% in the fourth 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 during the last quarter. AlphaMark Advisors LLC lifted its position in shares of AMETEK by 2.1% in the fourth quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company’s stock valued at $604,000 after acquiring an additional 70 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of AMETEK by 42.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock valued at $42,000 after acquiring an additional 70 shares during the last quarter. Finally, Quotient Wealth Partners LLC increased its position in AMETEK by 3.9% during the 4th 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 in the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

AMETEK Stock Down 5.6 %

AME opened at $152.45 on Friday. AMETEK, Inc. has a 1 year low of $149.03 and a 1 year high of $198.33. The firm has a 50 day moving average price of $180.56 and a 200 day moving average price of $180.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24. The company has a market cap of $35.18 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME) last released its quarterly earnings data 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 company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the business earned $1.68 earnings per share. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. Sell-side analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK announced that its Board of Directors has authorized a share 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 reacquire up to 2.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

AMETEK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.81%. This is a positive change from AMETEK’s previous quarterly dividend of $0.28. AMETEK’s dividend payout ratio (DPR) is 20.91%.

Insider Activity at AMETEK

In related news, Director Thomas A. Amato sold 710 shares of AMETEK stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total transaction of $125,414.40. Following the sale, the director now owns 10,560 shares of the company’s stock, valued at $1,865,318.40. The trade was a 6.30 % decrease in their position. 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 company’s stock in a transaction dated 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 transaction, the director now directly owns 22,029 shares of the company’s stock, valued at approximately $4,172,512.89. The trade was a 5.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AME shares. Truist Financial upped their target price on shares of 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 target price on the stock in a research report on Thursday, January 16th. Bank of America upgraded AMETEK from a “neutral” rating to a “buy” rating and boosted their price target for the company from $195.00 to $225.00 in a report on Monday, December 16th. Robert W. Baird decreased their price objective on AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Finally, StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned 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 an average price target of $204.67.

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.