CIBC Asset Management Inc Boosts Stock Holdings in AMETEK, Inc. (NYSE:AME)

CIBC Asset Management Inc increased its position in shares of AMETEK, Inc. (NYSE:AME) by 12.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,535 shares of the technology company’s stock after purchasing an additional 4,376 shares during the quarter. CIBC Asset Management Inc’s holdings in AMETEK were worth $6,946,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in AME. Itau Unibanco Holding S.A. grew 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 buying an additional 77 shares in the last quarter. Versant Capital Management Inc grew its stake in AMETEK by 3,116.7% during the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock valued at $35,000 after acquiring an additional 187 shares in the last quarter. AdvisorNet Financial Inc raised its holdings in AMETEK by 1,176.5% in the 4th quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock valued at $39,000 after acquiring an additional 200 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings 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 purchasing an additional 70 shares during the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in shares of AMETEK during the 3rd quarter worth approximately $44,000. 87.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AMETEK news, insider Tony J. Ciampitti sold 16,210 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now owns 49,490 shares in the company, valued at $9,750,024.90. The trade was a 24.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Emanuela Speranza sold 6,747 shares of the company’s stock in a transaction on 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 $5,967,114. This represents a 18.13 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

AMETEK Stock Up 2.4 %

AMETEK stock opened at $188.82 on Thursday. The company has a market capitalization of $43.68 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 2.69 and a beta of 1.16. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24. AMETEK, Inc. has a fifty-two week low of $149.03 and a fifty-two week high of $198.33. The firm has a 50 day moving average price of $182.97 and a 200 day moving average price of $177.69.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the firm posted $1.68 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. Research analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK announced that its Board of Directors has authorized a stock buyback plan on Friday, February 7th that permits the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 2.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

AMETEK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 dividend on an annualized basis and a dividend yield of 0.66%. This is a boost from AMETEK’s previous quarterly dividend of $0.28. AMETEK’s payout ratio is 18.89%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Truist Financial boosted their price target 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. BNP Paribas raised shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price on the stock in a research note on Thursday, January 16th. KeyCorp boosted their target price on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Bank of America raised shares of AMETEK from a “neutral” rating to a “buy” rating and lifted their price target for the company from $195.00 to $225.00 in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AMETEK presently has a consensus rating of “Moderate Buy” and an average target price of $204.67.

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.