R Squared Ltd Invests $260,000 in AMETEK, Inc. (NYSE:AME)

R Squared Ltd acquired a new position in shares of AMETEK, Inc. (NYSE:AME) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,440 shares of the technology company’s stock, valued at approximately $260,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of AMETEK by 0.3% during the third 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 during the period. JPMorgan Chase & Co. raised its holdings in AMETEK by 3.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company’s stock worth $1,199,454,000 after buying an additional 250,538 shares during the period. Geode Capital Management LLC lifted its stake in AMETEK by 0.8% in 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 buying an additional 45,459 shares in the last quarter. EdgePoint Investment Group Inc. lifted its stake in AMETEK by 87.9% in the third quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock valued at $337,279,000 after buying an additional 918,737 shares in the last quarter. Finally, Principal Financial Group Inc. boosted 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 valued at $288,526,000 after buying an additional 703,501 shares during the period. 87.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Truist Financial boosted their price objective 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. Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $195.00 to $225.00 in a research report on Monday, December 16th. BNP Paribas raised 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. TD Cowen downgraded AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Finally, StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $203.44.

AMETEK Price Performance

Shares of NYSE AME opened at $182.94 on Wednesday. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33. The company has a market cap of $42.32 billion, a PE ratio of 31.87, a price-to-earnings-growth ratio of 2.73 and a beta of 1.16. The business’s 50 day moving average price is $186.30 and its two-hundred day moving average price is $176.11. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.64 earnings per share. On average, analysts predict that AMETEK, Inc. will post 6.8 EPS for the current year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.12 annualized dividend and a yield of 0.61%. AMETEK’s dividend payout ratio (DPR) is presently 19.51%.

Insider Activity

In related news, insider Tony J. Ciampitti sold 16,210 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 49,490 shares in the company, valued at approximately $9,750,024.90. This represents a 24.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David F. Hermance sold 6,243 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the transaction, the insider now owns 36,731 shares in the company, valued at approximately $7,015,253.69. The trade was a 14.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,200 shares of company stock valued at $5,707,620. 0.61% of the stock is owned by insiders.

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.