Tower Research Capital LLC TRC Has $2.41 Million Stock Holdings in AMETEK, Inc. (NYSE:AME)

Tower Research Capital LLC TRC increased its holdings in shares of AMETEK, Inc. (NYSE:AME) by 49.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,362 shares of the technology company’s stock after purchasing an additional 4,404 shares during the period. Tower Research Capital LLC TRC’s holdings in AMETEK were worth $2,409,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc increased its stake in shares of 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 acquiring an additional 187 shares in the last quarter. AdvisorNet Financial Inc increased its stake in AMETEK by 1,176.5% in the fourth quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock valued at $39,000 after purchasing an additional 200 shares in the last quarter. Geneos Wealth Management Inc. raised 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 valued at $42,000 after purchasing an additional 70 shares during the period. OFI Invest Asset Management bought a new position in shares of AMETEK during the 4th quarter worth about $43,000. Finally, Anchor Investment Management LLC grew its stake in shares of AMETEK by 366.1% in the 3rd quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock valued at $45,000 after buying an additional 205 shares during the period. 87.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

AMETEK Price Performance

AMETEK stock opened at $159.40 on Wednesday. The stock has a market cap of $36.78 billion, a P/E ratio of 26.88, a P/E/G ratio of 2.73 and a beta of 1.14. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average price is $173.17 and its two-hundred day moving average price is $179.53. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week high of $198.33.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.82 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. AMETEK’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the company posted $1.68 earnings per share. On average, equities analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.31 dividend. This is a positive change from AMETEK’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.24 annualized dividend and a yield of 0.78%. AMETEK’s payout ratio is currently 20.91%.

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

Insider Buying and Selling at AMETEK

In other AMETEK news, Director Thomas A. Amato sold 710 shares of the business’s stock in a transaction on 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 $1,865,318.40. The trade was a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven W. Kohlhagen sold 1,320 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the transaction, the director now owns 22,029 shares of the company’s stock, valued at $4,172,512.89. The trade was a 5.65 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

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.