Wolverine Asset Management LLC Invests $1.65 Million in AMETEK, Inc. (NYSE:AME)

Wolverine Asset Management LLC bought a new position in shares of AMETEK, Inc. (NYSE:AME) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,000 shares of the technology company’s stock, valued at approximately $1,649,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Giverny Capital Inc. increased its stake in AMETEK by 0.5% in the 3rd quarter. Giverny Capital Inc. now owns 897,056 shares of the technology company’s stock worth $132,549,000 after buying an additional 4,556 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in AMETEK by 11.6% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 3,637 shares of the technology company’s stock worth $537,000 after purchasing an additional 378 shares during the period. Pacer Advisors Inc. grew its holdings in AMETEK by 161.0% during the 4th quarter. Pacer Advisors Inc. now owns 44,684 shares of the technology company’s stock valued at $7,368,000 after buying an additional 27,562 shares in the last quarter. Tyche Wealth Partners LLC bought a new stake in shares of AMETEK during the fourth quarter valued at approximately $6,275,000. Finally, Whittier Trust Co. raised its position in shares of AMETEK by 9.0% during the third quarter. Whittier Trust Co. now owns 3,117 shares of the technology company’s stock valued at $461,000 after buying an additional 258 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Trading Down 0.9 %

AME opened at $178.25 on Thursday. The stock has a market cap of $41.21 billion, a price-to-earnings ratio of 31.44, a P/E/G ratio of 2.87 and a beta of 1.22. The stock’s 50 day moving average price is $179.97 and its 200-day moving average price is $165.07. AMETEK, Inc. has a one year low of $133.12 and a one year high of $186.32. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.59 and a current ratio of 0.98.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.62 by $0.06. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.73 billion. AMETEK had a return on equity of 17.96% and a net margin of 19.91%. AMETEK’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.52 EPS. On average, equities analysts forecast that AMETEK, Inc. will post 6.82 EPS for the current year.

AMETEK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 8th were paid a $0.28 dividend. This is an increase from AMETEK’s previous quarterly dividend of $0.25. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, March 7th. AMETEK’s dividend payout ratio is currently 19.75%.

Insiders Place Their Bets

In other AMETEK news, CFO William Joseph Burke sold 17,437 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $168.51, for a total value of $2,938,308.87. Following the transaction, the chief financial officer now directly owns 101,709 shares in the company, valued at approximately $17,138,983.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other AMETEK news, VP Thomas M. Montgomery sold 6,891 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the transaction, the vice president now directly owns 21,543 shares in the company, valued at approximately $3,993,641.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO William Joseph Burke sold 17,437 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $168.51, for a total transaction of $2,938,308.87. Following the transaction, the chief financial officer now owns 101,709 shares in the company, valued at $17,138,983.59. The disclosure for this sale can be found here. Insiders have sold 59,881 shares of company stock worth $10,689,758 in the last three months. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Truist Financial began coverage on AMETEK in a research note on Thursday, March 14th. They issued a “buy” rating and a $210.00 price objective on the stock. Royal Bank of Canada reduced their price target on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Finally, KeyCorp boosted their price target on shares of AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $180.78.

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.