Parallel Advisors LLC Has $584,000 Holdings in AMETEK, Inc. (NYSE:AME)

Parallel Advisors LLC lowered its position in shares of AMETEK, Inc. (NYSE:AME) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,239 shares of the technology company’s stock after selling 93 shares during the quarter. Parallel Advisors LLC’s holdings in AMETEK were worth $584,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AME. MassMutual Private Wealth & Trust FSB increased its stake in AMETEK by 4.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company’s stock valued at $261,000 after buying an additional 63 shares during the period. AlphaMark Advisors LLC increased its stake in AMETEK by 2.1% in the 4th quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company’s stock valued at $604,000 after buying 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 buying an additional 70 shares during the period. Quotient Wealth Partners LLC increased its stake in AMETEK by 3.9% in the 4th quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company’s stock valued at $332,000 after buying an additional 70 shares during the period. Finally, Howard Capital Management Inc. increased its stake in AMETEK by 5.0% in the 4th quarter. Howard Capital Management Inc. now owns 1,501 shares of the technology company’s stock valued at $271,000 after buying an additional 72 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Price Performance

NYSE AME opened at $176.02 on Friday. 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 has a fifty day simple moving average of $182.96 and a 200 day simple moving average of $180.41. The company has a market cap of $40.62 billion, a P/E ratio of 29.68, a P/E/G ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a 1 year low of $149.03 and a 1 year high of $198.33.

AMETEK (NYSE:AME) last posted 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 business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the firm earned $1.68 EPS. AMETEK’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, sell-side analysts predict that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK announced that its Board of Directors has authorized a share repurchase plan on Friday, February 7th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the technology company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.31 dividend. The ex-dividend date is Friday, March 14th. This is an increase from AMETEK’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a yield of 0.70%. AMETEK’s dividend payout ratio is 20.91%.

Insider Buying and Selling at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $189.41, for a total value of $250,021.20. Following the completion of the sale, the director now directly owns 22,029 shares of the company’s stock, valued at $4,172,512.89. This represents a 5.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on AME. KeyCorp upped their price objective on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Bank of America upgraded shares of AMETEK from a “neutral” rating to a “buy” rating and increased their price target for the stock from $195.00 to $225.00 in a research note on Monday, December 16th. StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Sunday, March 9th. BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target on the stock in a research note on Thursday, January 16th. Finally, Truist Financial increased their price target on shares of AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AMETEK currently has a consensus rating of “Moderate Buy” and an average 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.