Sei Investments Co. Has $26.98 Million Stock Holdings in AMETEK, Inc. (NYSE:AME)

Sei Investments Co. raised its stake in AMETEK, Inc. (NYSE:AME) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 149,668 shares of the technology company’s stock after buying an additional 1,373 shares during the period. Sei Investments Co.’s holdings in AMETEK were worth $26,975,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in AMETEK by 72.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock worth $288,526,000 after acquiring an additional 703,501 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of AMETEK by 276.9% in the third quarter. Advisors Asset Management Inc. now owns 1,990 shares of the technology company’s stock valued at $342,000 after buying an additional 1,462 shares during the period. Cerity Partners LLC raised its holdings in AMETEK by 60.0% in the 3rd quarter. Cerity Partners LLC now owns 108,341 shares of the technology company’s stock valued at $18,603,000 after buying an additional 40,616 shares during the last quarter. Swedbank AB boosted its position in AMETEK by 3.9% during the 3rd quarter. Swedbank AB now owns 70,517 shares of the technology company’s stock worth $12,108,000 after buying an additional 2,659 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in AMETEK by 30.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 53,849 shares of the technology company’s stock worth $9,247,000 after acquiring an additional 12,718 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.

Insider Buying and Selling at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of the company’s 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 approximately $4,172,512.89. This represents a 5.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

AME has been the subject of several analyst reports. Robert W. Baird dropped their price target on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. BNP Paribas raised AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price on the stock in a report on Thursday, January 16th. Truist Financial increased their price target on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a research note on Sunday, March 9th. Finally, Bank of America raised shares of AMETEK from a “neutral” rating to a “buy” rating and increased their target price for the company from $195.00 to $225.00 in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $204.67.

AMETEK Price Performance

Shares of AME opened at $179.69 on Wednesday. The firm has a market cap of $41.46 billion, a PE ratio of 30.30, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week high of $198.33. 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 business’s 50 day moving average price is $182.98 and its two-hundred day moving average price is $180.83.

AMETEK (NYSE:AME) last issued 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 analyst estimates of $1.82 billion. During the same period in the prior year, the firm earned $1.68 earnings per share. AMETEK’s revenue was up 1.8% on a year-over-year basis. On average, equities analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK announced that its board has authorized a share buyback program on Friday, February 7th that allows the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization allows the technology company to buy up to 2.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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 issued a $0.31 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.24 annualized dividend and a yield of 0.69%. This is a positive change from AMETEK’s previous quarterly dividend of $0.28. AMETEK’s dividend payout ratio is presently 20.91%.

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.