Sei Investments Co. Purchases 1,373 Shares of AMETEK, Inc. (NYSE:AME)

Sei Investments Co. grew its holdings in AMETEK, Inc. (NYSE:AME) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 149,668 shares of the technology company’s stock after purchasing an additional 1,373 shares during the quarter. Sei Investments Co. owned approximately 0.06% of AMETEK worth $26,975,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. EdgePoint Investment Group Inc. grew its holdings in 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 acquiring an additional 918,737 shares during the period. American Century Companies Inc. boosted its position in shares of AMETEK by 240.3% in 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 during the last quarter. Principal Financial Group Inc. grew its stake in shares of 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 purchasing an additional 703,501 shares during the period. Bryn Mawr Capital Management LLC increased its holdings in AMETEK by 10,506.5% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 476,442 shares of the technology company’s stock valued at $812,000 after purchasing an additional 471,950 shares during the last quarter. Finally, D1 Capital Partners L.P. acquired a new position in AMETEK in the third quarter valued at about $79,782,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Transactions at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,320 shares of the firm’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 transaction, the director now directly owns 22,029 shares of the company’s stock, valued at approximately $4,172,512.89. This trade represents a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

AMETEK Price Performance

NYSE:AME opened at $179.69 on Wednesday. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week high of $198.33. The company has a market cap of $41.46 billion, a P/E ratio of 30.30, a P/E/G ratio of 2.73 and a beta of 1.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24. The stock’s 50-day simple moving average is $182.98 and its 200 day simple moving average is $180.83.

AMETEK (NYSE:AME) last issued its 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 the consensus estimate of $1.82 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.68 earnings per share. As a group, sell-side analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK declared that its Board of Directors has approved a stock repurchase plan on Friday, February 7th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the technology company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

AMETEK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from AMETEK’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 0.69%. AMETEK’s dividend payout ratio (DPR) is 20.91%.

Analyst Upgrades and Downgrades

AME has been the subject of a number of recent analyst reports. BNP Paribas raised AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target for the company in a research note on Thursday, January 16th. Robert W. Baird lowered 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 lifted their price target 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 company from $195.00 to $225.00 in a research report on Monday, December 16th. Finally, StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a research note on Sunday, March 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AMETEK presently has a consensus rating of “Moderate Buy” and an average 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.