Haverford Trust Co Cuts Position in AMETEK, Inc. (NYSE:AME)

Haverford Trust Co lessened its position in AMETEK, Inc. (NYSE:AME) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,097 shares of the technology company’s stock after selling 66 shares during the quarter. Haverford Trust Co’s holdings in AMETEK were worth $558,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its position in shares of AMETEK by 4.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company’s stock valued at $261,000 after purchasing an additional 63 shares during the last quarter. Kensington Investment Counsel LLC raised its stake in shares of AMETEK by 0.5% during the fourth quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company’s stock worth $2,574,000 after acquiring an additional 66 shares in the last quarter. AlphaMark Advisors LLC lifted its holdings in shares of AMETEK by 2.1% in the 4th quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company’s stock worth $604,000 after acquiring an additional 70 shares during the last quarter. Geneos Wealth Management Inc. boosted 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 in the last quarter. Finally, Quotient Wealth Partners LLC raised its position in AMETEK by 3.9% in the 4th quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company’s stock worth $332,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Trading Up 0.5 %

NYSE:AME opened at $179.69 on Wednesday. The company has a 50-day moving average price of $182.98 and a 200-day moving average price of $180.83. The stock has a market cap of $41.46 billion, a price-to-earnings ratio of 30.30, a P/E/G 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 12 month low of $149.03 and a 12 month 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. 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 period last year, the business posted $1.68 earnings per share. AMETEK’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities analysts predict that AMETEK, Inc. will post 7.15 EPS for the current year.

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

AMETEK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 0.69%. This is a boost from AMETEK’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, March 14th. AMETEK’s dividend payout ratio is presently 20.91%.

Insider Buying and Selling at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the 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 transaction, the director now directly owns 22,029 shares in the company, valued at $4,172,512.89. This trade represents a 5.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. BNP Paribas raised AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research note on Thursday, January 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 report on Thursday, January 16th. StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a research report on Sunday, March 9th. Bank of America upgraded shares of AMETEK from a “neutral” rating to a “buy” rating and raised their target price for the stock from $195.00 to $225.00 in a report on Monday, December 16th. Finally, Robert W. Baird lowered their price target on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.