AMETEK, Inc. (NYSE:AME) Shares Sold by Choreo LLC

Choreo LLC decreased its holdings in shares of AMETEK, Inc. (NYSE:AME) by 20.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 10,082 shares of the technology company’s stock after selling 2,521 shares during the period. Choreo LLC’s holdings in AMETEK were worth $1,820,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in shares of AMETEK by 3,116.7% during the fourth quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock worth $35,000 after purchasing an additional 187 shares during the last quarter. Itau Unibanco Holding S.A. boosted its holdings in shares of AMETEK by 62.6% during the third quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock worth $34,000 after purchasing an additional 77 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of AMETEK by 1,176.5% during the fourth quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock worth $39,000 after purchasing an additional 200 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings 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 worth $42,000 after purchasing an additional 70 shares during the last quarter. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of AMETEK during the third quarter worth $44,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. KeyCorp lifted their target price on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Robert W. Baird reduced their target price on AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a report on Wednesday. Bank of America upgraded AMETEK from a “neutral” rating to a “buy” rating and lifted their target price for the company from $195.00 to $225.00 in a report on Monday, December 16th. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Truist Financial lifted their target price on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $204.67.

Insider Transactions at AMETEK

In other news, insider Tony J. Ciampitti sold 16,210 shares of AMETEK stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the sale, the insider now directly owns 49,490 shares of the company’s stock, valued at approximately $9,750,024.90. The trade was a 24.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Emanuela Speranza sold 6,747 shares of AMETEK stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total value of $1,321,737.30. Following the sale, the insider now directly owns 30,460 shares in the company, valued at approximately $5,967,114. The trade was a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

AMETEK Trading Up 0.9 %

NYSE:AME opened at $184.54 on Friday. The business’s 50-day moving average is $184.29 and its two-hundred day moving average is $176.65. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. AMETEK, Inc. has a 12 month low of $149.03 and a 12 month high of $198.33. The firm has a market capitalization of $42.69 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 2.67 and a beta of 1.16.

AMETEK (NYSE:AME) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.02. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. 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 previous year, the company earned $1.68 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. Research analysts predict that AMETEK, Inc. will post 6.8 earnings per share for the current fiscal year.

AMETEK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.67%. This is a positive change from AMETEK’s previous quarterly dividend of $0.28. AMETEK’s payout ratio is presently 18.89%.

AMETEK declared that its board has approved a share buyback program on Friday, February 7th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the technology company to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

About AMETEK

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.