AMETEK, Inc. (NYSE:AME) Shares Bought by Intrust Bank NA

Intrust Bank NA boosted its holdings in AMETEK, Inc. (NYSE:AME) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,999 shares of the technology company’s stock after buying an additional 527 shares during the quarter. Intrust Bank NA’s holdings in AMETEK were worth $2,523,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AME. Norges Bank acquired a new stake in AMETEK during the 4th quarter worth $697,080,000. EdgePoint Investment Group Inc. raised its stake in shares of AMETEK by 87.9% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock worth $337,279,000 after buying an additional 918,737 shares in the last quarter. American Century Companies Inc. boosted its position in shares of AMETEK by 240.3% during the 4th quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company’s stock worth $202,805,000 after purchasing an additional 794,473 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in AMETEK by 72.0% during the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock worth $288,526,000 after buying an additional 703,501 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC grew its position in AMETEK by 10,506.5% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 476,442 shares of the technology company’s stock worth $812,000 after buying an additional 471,950 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Stock Down 3.0 %

AME stock opened at $170.25 on Friday. The company has a market capitalization of $39.28 billion, a P/E ratio of 28.71, a PEG ratio of 2.73 and a beta of 1.14. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33. The firm has a 50 day simple moving average of $182.60 and a 200-day simple moving average of $180.80.

AMETEK (NYSE:AME) last announced its quarterly earnings results 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. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.82 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.68 EPS. On average, equities research analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

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

AMETEK Increases Dividend

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

Insider Activity

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $189.41, for a total transaction of $250,021.20. Following the sale, the director now owns 22,029 shares in the company, valued at approximately $4,172,512.89. The trade was a 5.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas A. Amato sold 710 shares of the company’s 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 completion of the sale, the director now owns 10,560 shares of the company’s stock, valued at approximately $1,865,318.40. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Truist Financial lifted their price target on shares of AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. BNP Paribas upgraded AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price on the stock in a research report on Thursday, January 16th. Bank of America upgraded AMETEK from a “neutral” rating to a “buy” rating and raised their price target for the company from $195.00 to $225.00 in a research report on Monday, December 16th. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Robert W. Baird lowered their price objective on shares of 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, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.67.

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.