Cumberland Partners Ltd Invests $208,000 in AMETEK, Inc. (NYSE:AME)

Cumberland Partners Ltd bought a new position in shares of AMETEK, Inc. (NYSE:AME) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 1,155 shares of the technology company’s stock, valued at approximately $208,000.

Other large investors also recently added to or reduced their stakes in the company. Oddo BHF Asset Management Sas purchased a new stake in AMETEK in the 3rd quarter worth about $3,724,000. Everence Capital Management Inc. purchased a new stake in AMETEK in the 4th quarter worth about $999,000. Czech National Bank increased its holdings in AMETEK by 6.3% in the 4th quarter. Czech National Bank now owns 50,153 shares of the technology company’s stock worth $9,041,000 after acquiring an additional 2,987 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in AMETEK by 23.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 355,828 shares of the technology company’s stock worth $61,099,000 after acquiring an additional 67,025 shares during the last quarter. Finally, Taurus Asset Management LLC increased its holdings in AMETEK by 2.9% in the 3rd quarter. Taurus Asset Management LLC now owns 115,033 shares of the technology company’s stock worth $19,752,000 after acquiring an additional 3,210 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AME. Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $195.00 to $225.00 in a report on Monday, December 16th. Robert W. Baird reduced their target price on AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. 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. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a report on Friday. Finally, BNP Paribas raised AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price for the company in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $204.67.

Insider Transactions at AMETEK

In related news, insider Emanuela Speranza sold 6,747 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 30,460 shares in the company, valued at $5,967,114. The trade was a 18.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.61% of the stock is owned by insiders.

AMETEK Stock Down 0.1 %

Shares of NYSE AME opened at $188.76 on Friday. AMETEK, Inc. has a 12 month low of $149.03 and a 12 month high of $198.33. 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 firm has a market capitalization of $43.66 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 2.70 and a beta of 1.16. The business has a 50-day moving average of $182.97 and a 200-day moving average of $177.77.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 EPS 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 company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the firm earned $1.68 earnings per share. AMETEK’s revenue was up 1.8% on a year-over-year basis. Sell-side analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.31 per share. This is a positive change from AMETEK’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.24 annualized dividend and a dividend yield of 0.66%. AMETEK’s payout ratio is presently 20.91%.

AMETEK announced that its board has authorized 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 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 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.