Mn Services Vermogensbeheer B.V. Buys 1,500 Shares of AMETEK, Inc. (NYSE:AME)

Mn Services Vermogensbeheer B.V. lifted its position in AMETEK, Inc. (NYSE:AME) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,000 shares of the technology company’s stock after purchasing an additional 1,500 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in AMETEK were worth $16,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. New York Life Investment Management LLC lifted its holdings in shares of AMETEK by 0.7% in the fourth quarter. New York Life Investment Management LLC now owns 30,945 shares of the technology company’s stock worth $5,578,000 after buying an additional 211 shares in the last quarter. Convergence Financial LLC grew its holdings in shares of AMETEK by 5.9% in the fourth quarter. Convergence Financial LLC now owns 9,694 shares of the technology company’s stock valued at $1,747,000 after purchasing an additional 536 shares in the last quarter. SRN Advisors LLC purchased a new position in shares of AMETEK in the 4th quarter worth $690,000. Lake Street Advisors Group LLC increased its holdings in shares of AMETEK by 8.2% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,826 shares of the technology company’s stock worth $329,000 after buying an additional 138 shares during the last quarter. Finally, Longbow Finance SA purchased a new stake in AMETEK during the fourth quarter valued at approximately $5,475,000. 87.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on AME shares. Robert W. Baird cut their price objective 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. KeyCorp boosted their target price on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Mizuho increased their price objective on AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Truist Financial raised their price objective on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and increased their price objective for the company from $195.00 to $225.00 in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $204.67.

AMETEK Price Performance

NYSE:AME opened at $187.27 on Friday. The stock has a market capitalization of $43.32 billion, a PE ratio of 31.58, a price-to-earnings-growth ratio of 2.73 and a beta of 1.16. The stock’s 50-day moving average price is $183.13 and its 200-day moving average price is $178.87. 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 52 week low of $149.03 and a 52 week high of $198.33.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, topping 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 company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the prior year, the business posted $1.68 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities analysts expect that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

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

AMETEK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from AMETEK’s previous quarterly dividend of $0.28. AMETEK’s dividend payout ratio (DPR) is 18.89%.

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.