AMETEK, Inc. (NYSE:AME) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its holdings in shares of AMETEK, Inc. (NYSE:AME) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 939,921 shares of the technology company’s stock after selling 17,400 shares during the period. Wellington Management Group LLP owned approximately 0.41% of AMETEK worth $169,430,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. MassMutual Private Wealth & Trust FSB grew its holdings in shares of AMETEK by 4.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company’s stock worth $261,000 after acquiring an additional 63 shares during the period. Kensington Investment Counsel LLC grew its holdings in AMETEK by 0.5% in the fourth quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company’s stock valued at $2,574,000 after purchasing an additional 66 shares during the last quarter. AlphaMark Advisors LLC increased 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 buying an additional 70 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of AMETEK by 42.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock worth $42,000 after buying an additional 70 shares during the last quarter. Finally, Quotient Wealth Partners LLC boosted its position in shares of AMETEK by 3.9% in the 4th quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company’s stock worth $332,000 after buying an additional 70 shares in the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AME shares. Robert W. Baird dropped their target price 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. Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and upped their target price for the company from $195.00 to $225.00 in a research note on Monday, December 16th. BNP Paribas raised AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target for the company in a report on Thursday, January 16th. Truist Financial increased their price objective on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AMETEK has an average rating of “Moderate Buy” and an average price target of $204.67.

Insider Buying and Selling

In other news, Director Thomas A. Amato sold 710 shares of the stock in a transaction 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 completion of the sale, the director now owns 10,560 shares of the company’s stock, valued at $1,865,318.40. This represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven W. Kohlhagen sold 1,320 shares of AMETEK stock in a transaction 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 transaction, the director now owns 22,029 shares in the company, valued at $4,172,512.89. The trade was a 5.65 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

AMETEK Stock Performance

NYSE:AME opened at $172.60 on Thursday. The company has a market cap of $39.83 billion, a P/E ratio of 29.11, a P/E/G ratio of 2.73 and a beta of 1.14. The firm’s 50 day moving average is $181.85 and its two-hundred day moving average is $181.03. AMETEK, Inc. has a fifty-two week low of $149.03 and a fifty-two week high of $198.33. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15.

AMETEK (NYSE:AME) last issued 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. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the company posted $1.68 EPS. The business’s quarterly revenue was up 1.8% on a year-over-year basis. Analysts expect that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.72%. This is a boost from AMETEK’s previous quarterly dividend of $0.28. AMETEK’s payout ratio is presently 20.91%.

AMETEK declared that its board has approved a stock repurchase program 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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.