AMETEK, Inc. (NYSE:AME) Shares Purchased by Cibc World Markets Corp

Cibc World Markets Corp raised its position in AMETEK, Inc. (NYSE:AME) by 16.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,507 shares of the technology company’s stock after buying an additional 5,126 shares during the period. Cibc World Markets Corp’s holdings in AMETEK were worth $6,581,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AME. Versant Capital Management Inc boosted its stake in shares of 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 acquiring an additional 187 shares during the last quarter. Itau Unibanco Holding S.A. boosted its stake in 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. AdvisorNet Financial Inc grew its holdings in shares of AMETEK by 1,176.5% during the fourth quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock worth $39,000 after buying an additional 200 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of AMETEK by 42.9% in the fourth 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, OFI Invest Asset Management purchased a new position in shares of AMETEK in the fourth quarter worth about $43,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $189.41, for a total transaction of $250,021.20. Following the sale, the director now directly owns 22,029 shares of the company’s stock, valued at $4,172,512.89. This represents a 5.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

AMETEK Price Performance

AMETEK stock opened at $175.90 on Wednesday. The company’s 50 day simple moving average is $183.02 and its 200-day simple moving average is $180.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24. AMETEK, Inc. has a 1 year low of $149.03 and a 1 year high of $198.33. The company has a market capitalization of $40.57 billion, a price-to-earnings ratio of 29.66, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.02. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the prior year, the firm earned $1.68 earnings per share. The firm’s revenue was up 1.8% compared to the same quarter last year. As a group, equities research analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK declared that its board has approved a stock buyback program on Friday, February 7th that allows the company to repurchase $1.25 billion in shares. This repurchase authorization allows the technology company to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

AMETEK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.31 dividend. This is an increase from AMETEK’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Friday, March 14th. AMETEK’s payout ratio is currently 20.91%.

Analyst Ratings Changes

AME has been the subject of a number of recent research reports. Truist Financial increased their price objective on shares of AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a report on Thursday, January 16th. KeyCorp lifted their price objective on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Bank of America upgraded AMETEK from a “neutral” rating to a “buy” rating and upped their target price for the company from $195.00 to $225.00 in a report on Monday, December 16th. StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a report on Sunday, March 9th. Finally, BNP Paribas raised shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective for the company in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $204.67.

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.