SRN Advisors LLC Purchases New Stake in AMETEK, Inc. (NYSE:AME)

SRN Advisors LLC acquired a new position in AMETEK, Inc. (NYSE:AME) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,828 shares of the technology company’s stock, valued at approximately $690,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. increased its stake in shares of AMETEK by 62.6% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock worth $34,000 after purchasing an additional 77 shares during the last quarter. Versant Capital Management Inc increased its position in AMETEK by 3,116.7% in the fourth quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock worth $35,000 after buying an additional 187 shares during the last quarter. AdvisorNet Financial Inc raised its stake in shares of 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 buying an additional 200 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of 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 buying an additional 70 shares during the last quarter. Finally, Princeton Global Asset Management LLC bought a new position in shares of AMETEK during the 3rd quarter worth $44,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AME has been the topic of a number of research reports. Mizuho boosted their price objective on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Truist Financial upped their price target on shares of AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a report on Friday, February 21st. KeyCorp boosted their target price on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Robert W. Baird decreased their price objective on AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $204.67.

AMETEK Price Performance

AMETEK stock opened at $188.12 on Thursday. The stock has a market cap of $43.51 billion, a price-to-earnings ratio of 31.72, a PEG ratio of 2.73 and a beta of 1.16. 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 business has a 50-day simple moving average of $183.03 and a 200 day simple moving average of $178.81. 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 data on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.85 by $0.02. The company had revenue of $1.76 billion during 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 revenue 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, research analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Increases Dividend

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

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

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.