CIBC Private Wealth Group LLC Cuts Stake in AMETEK, Inc. (NYSE:AME)

CIBC Private Wealth Group LLC lessened its stake in AMETEK, Inc. (NYSE:AME) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 257,791 shares of the technology company’s stock after selling 7,580 shares during the quarter. CIBC Private Wealth Group LLC owned 0.11% of AMETEK worth $46,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AME. Itau Unibanco Holding S.A. raised its holdings in AMETEK by 62.6% in the third quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock worth $34,000 after buying an additional 77 shares during the last quarter. Versant Capital Management Inc raised its holdings in AMETEK by 3,116.7% in the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock worth $35,000 after acquiring an additional 187 shares during the last quarter. AdvisorNet Financial Inc lifted its position in AMETEK by 1,176.5% in 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. boosted its stake in AMETEK by 42.9% during the 4th 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 last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of AMETEK in the 4th quarter worth $43,000. Institutional investors own 87.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on AME. Robert W. Baird dropped their price objective on AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price on the stock in a report on Thursday, January 16th. Bank of America upgraded shares of AMETEK from a “neutral” rating to a “buy” rating and boosted their target price for the company from $195.00 to $225.00 in a research note on Monday, December 16th. Truist Financial raised their price target on AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and a consensus target price of $204.67.

Insider Buying and Selling at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 22,029 shares in the company, valued at $4,172,512.89. This represents a 5.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas A. Amato sold 710 shares of AMETEK stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total transaction of $125,414.40. Following the sale, the director now owns 10,560 shares in the company, valued at approximately $1,865,318.40. The trade was a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

AMETEK Stock Down 3.0 %

NYSE AME opened at $170.25 on Monday. The stock’s 50-day moving average price is $182.60 and its 200-day moving average price is $181.03. The company has a market capitalization of $39.28 billion, a P/E ratio of 28.71, a price-to-earnings-growth 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. AMETEK, Inc. has a 52 week low of $149.03 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 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.82 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.68 earnings per share. On average, equities research analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.31 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.24 annualized dividend and a yield of 0.73%. This is an increase from AMETEK’s previous quarterly dividend of $0.28. AMETEK’s dividend payout ratio is currently 20.91%.

AMETEK announced that its Board of Directors has initiated a share repurchase plan on Friday, February 7th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is 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.