Mirabella Financial Services LLP Makes New $2.21 Million Investment in AMETEK, Inc. (NYSE:AME)

Mirabella Financial Services LLP bought a new stake in AMETEK, Inc. (NYSE:AME) during the fourth quarter, Holdings Channel reports. The institutional investor bought 12,263 shares of the technology company’s stock, valued at approximately $2,210,000.

A number of other large investors also recently made changes to their positions in the business. 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 valued at $35,000 after buying an additional 187 shares during the period. AdvisorNet Financial Inc grew its holdings in shares of AMETEK by 1,176.5% during 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 in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of AMETEK by 42.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock worth $42,000 after acquiring an additional 70 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of AMETEK during the fourth quarter worth $43,000. Finally, Anchor Investment Management LLC boosted its position in AMETEK by 366.1% during the third quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock valued at $45,000 after purchasing an additional 205 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Wall Street Analyst Weigh In

AME has been the topic of several research reports. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. BNP Paribas raised shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research report on Thursday, January 16th. Truist Financial decreased their target price on shares of AMETEK from $216.00 to $196.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Morgan Stanley began coverage on shares of AMETEK in a research note on Monday, April 14th. They issued an “equal weight” rating and a $170.00 price objective for the company. Finally, Robert W. Baird lowered their target price on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, AMETEK presently has an average rating of “Moderate Buy” and a consensus price target of $198.60.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,320 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $189.41, for a total transaction 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 represents a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas A. Amato sold 710 shares of AMETEK stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the sale, the director now directly owns 10,560 shares in the company, valued at approximately $1,865,318.40. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

AMETEK Trading Down 0.5 %

Shares of NYSE:AME opened at $157.66 on Friday. 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 stock’s 50-day moving average is $174.27 and its 200-day moving average is $179.70. The company has a market cap of $36.38 billion, a P/E ratio of 26.59, a P/E/G ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a 52-week low of $145.02 and a 52-week high of $198.33.

AMETEK (NYSE:AME) last released its earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) 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 firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the firm posted $1.68 EPS. The company’s revenue was up 1.8% on a year-over-year basis. Equities research analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.31 per share. This is a boost from AMETEK’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Friday, March 14th. AMETEK’s dividend payout ratio is presently 20.91%.

AMETEK declared that its Board of Directors has approved a stock repurchase program on Friday, February 7th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the technology company to purchase 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.

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.