OFI Invest Asset Management Invests $43,000 in AMETEK, Inc. (NYSE:AME)

OFI Invest Asset Management acquired a new position in AMETEK, Inc. (NYSE:AME) in the 4th quarter, Holdings Channel.com reports. The firm acquired 248 shares of the technology company’s stock, valued at approximately $43,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Itau Unibanco Holding S.A. increased its stake in shares of AMETEK by 62.6% in the 3rd 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 in the last quarter. Versant Capital Management Inc increased its stake in AMETEK by 3,116.7% in the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock worth $35,000 after buying an additional 187 shares in the last quarter. AdvisorNet Financial Inc increased its stake in AMETEK by 1,176.5% in the 4th quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock worth $39,000 after buying an additional 200 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in AMETEK by 42.9% in 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 in the last quarter. Finally, Anchor Investment Management LLC increased its stake in AMETEK by 366.1% in the 3rd quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock worth $45,000 after buying an additional 205 shares in the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

AMETEK Trading Down 2.5 %

Shares of AMETEK stock opened at $179.38 on Tuesday. 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, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33. The business has a 50-day moving average price of $183.35 and a 200-day moving average price of $180.13. The firm has a market cap of $41.37 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the firm earned $1.68 EPS. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Increases Dividend

The firm also recently declared 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. This is an increase from AMETEK’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.69%. AMETEK’s dividend payout ratio (DPR) is presently 20.91%.

AMETEK announced that its Board of Directors has initiated a stock 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 reacquire up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AME shares. Robert W. Baird cut their price target on AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Truist Financial increased their price target on AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. BNP Paribas upgraded AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target for the company in a research note on Thursday, January 16th. StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, KeyCorp increased their price target on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, two have issued 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, the stock has an average rating of “Moderate Buy” and an average target price of $204.67.

Insider Activity at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $189.41, for a total value of $250,021.20. Following the completion of the transaction, the director now owns 22,029 shares of the company’s stock, valued at approximately $4,172,512.89. This trade represents a 5.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is owned by insiders.

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.