Aigen Investment Management LP Buys New Stake in AMETEK, Inc. (NYSE:AME)

Aigen Investment Management LP bought a new stake in AMETEK, Inc. (NYSE:AME) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 7,768 shares of the technology company’s stock, valued at approximately $1,400,000.

Other large investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. lifted its stake in shares of AMETEK by 62.6% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock valued at $34,000 after purchasing an additional 77 shares during the period. Versant Capital Management Inc lifted its stake in shares of AMETEK by 3,116.7% in the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock valued at $35,000 after purchasing an additional 187 shares during the period. AdvisorNet Financial Inc lifted its stake in shares of 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 purchasing an additional 200 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of AMETEK by 42.9% in 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 period. Finally, Anchor Investment Management LLC lifted its stake in shares of AMETEK by 366.1% in the 3rd quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock valued at $45,000 after purchasing an additional 205 shares during the period. 87.43% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Price Performance

AMETEK stock opened at $185.07 on Thursday. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week high of $198.33. The firm has a market capitalization of $42.69 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 2.73 and a beta of 1.14. The company has a fifty day simple moving average of $183.34 and a 200-day simple moving average of $179.66. 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 (NYSE:AME) last released its earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) 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 business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the firm earned $1.68 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK announced that its Board of Directors has initiated a share buyback plan on Friday, February 7th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the technology company to buy up to 2.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

AMETEK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.31 per share. This is a positive change from AMETEK’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.67%. AMETEK’s dividend payout ratio is presently 20.91%.

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $189.41, for a total value of $250,021.20. Following the completion of the sale, the director now owns 22,029 shares of the company’s stock, valued at approximately $4,172,512.89. This represents a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Robert W. Baird decreased their target price on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Truist Financial upped their price objective on shares of AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Bank of America upgraded shares of AMETEK from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $195.00 to $225.00 in a research report on Monday, December 16th. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 1st. Finally, BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective for the company in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AMETEK presently has an average 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.