AMETEK, Inc. (NYSE:AME) Shares Acquired by Assetmark Inc.

Assetmark Inc. raised its holdings in shares of AMETEK, Inc. (NYSE:AME) by 15.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,338 shares of the technology company’s stock after purchasing an additional 6,654 shares during the quarter. Assetmark Inc.’s holdings in AMETEK were worth $8,135,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in AME. Norges Bank bought a new position in AMETEK during the 4th quarter valued at $589,098,000. Morgan Stanley increased its holdings in shares of AMETEK by 19.2% in the 3rd quarter. Morgan Stanley now owns 4,189,108 shares of the technology company’s stock valued at $618,983,000 after acquiring an additional 674,549 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of AMETEK by 4,845.8% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 677,075 shares of the technology company’s stock worth $111,643,000 after buying an additional 663,385 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in AMETEK during the third quarter worth about $90,248,000. Finally, Adage Capital Partners GP L.L.C. boosted its stake in AMETEK by 84.9% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,081,557 shares of the technology company’s stock valued at $159,811,000 after acquiring an additional 496,523 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Royal Bank of Canada dropped their target price on AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. KeyCorp boosted their price objective on AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Robert W. Baird cut their price objective on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Finally, Truist Financial initiated coverage on shares of AMETEK in a research report on Thursday, March 14th. They issued a “buy” rating and a $210.00 target price for the company. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $181.64.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,400 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $180.59, for a total value of $252,826.00. Following the transaction, the director now owns 28,054 shares in the company, valued at approximately $5,066,271.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other AMETEK news, CFO William Joseph Burke sold 27,400 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $185.05, for a total value of $5,070,370.00. Following the transaction, the chief financial officer now directly owns 106,512 shares of the company’s stock, valued at approximately $19,710,045.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Steven W. Kohlhagen sold 1,400 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $180.59, for a total transaction of $252,826.00. Following the transaction, the director now owns 28,054 shares in the company, valued at approximately $5,066,271.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,941 shares of company stock worth $6,992,804. 0.61% of the stock is owned by corporate insiders.

AMETEK Trading Up 3.0 %

Shares of NYSE AME opened at $174.13 on Thursday. The business has a fifty day simple moving average of $176.80 and a 200-day simple moving average of $168.69. The company has a market cap of $40.31 billion, a price-to-earnings ratio of 30.60, a P/E/G ratio of 2.71 and a beta of 1.21. AMETEK, Inc. has a 12 month low of $136.89 and a 12 month high of $186.32. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the firm earned $1.49 earnings per share. The business’s quarterly revenue was up 9.0% on a year-over-year basis. Sell-side analysts predict that AMETEK, Inc. will post 6.83 EPS for the current year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.64%. AMETEK’s payout ratio is currently 19.68%.

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.