NEOS Investment Management LLC Grows Holdings in AMETEK, Inc. (NYSE:AME)

NEOS Investment Management LLC raised its position in AMETEK, Inc. (NYSE:AME) by 28.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,183 shares of the technology company’s stock after buying an additional 2,483 shares during the period. NEOS Investment Management LLC’s holdings in AMETEK were worth $2,016,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Oddo BHF Asset Management Sas purchased a new position in AMETEK in the third quarter valued at about $3,724,000. Everence Capital Management Inc. purchased a new position in shares of AMETEK during the 4th quarter valued at approximately $999,000. Czech National Bank increased its stake in shares of AMETEK by 6.3% in the fourth quarter. Czech National Bank now owns 50,153 shares of the technology company’s stock worth $9,041,000 after buying an additional 2,987 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in AMETEK by 434.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company’s stock valued at $97,614,000 after acquiring an additional 440,197 shares in the last quarter. Finally, Dudley & Shanley Inc. raised its holdings in AMETEK by 11.3% in the third quarter. Dudley & Shanley Inc. now owns 139,434 shares of the technology company’s stock valued at $23,942,000 after acquiring an additional 14,105 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Stock Performance

Shares of AME opened at $170.25 on Friday. 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 firm has a fifty day moving average of $182.60 and a 200-day moving average of $180.80. The company has a market cap of $39.28 billion, a price-to-earnings ratio of 28.71, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14.

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

AMETEK Increases Dividend

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

AMETEK announced that its Board of Directors has authorized a share buyback program 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 programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

AME has been the subject of several research analyst reports. Robert W. Baird dropped their target price on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a report on Wednesday. BNP Paribas raised AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price on the stock in a report on Thursday, January 16th. Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and upped their price target for the company from $195.00 to $225.00 in a research report on Monday, December 16th. Finally, Truist Financial raised their price objective on AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $204.67.

Insider Buying and Selling

In other AMETEK news, Director Thomas A. Amato sold 710 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $176.64, for a total value of $125,414.40. Following the sale, the director now directly owns 10,560 shares in the company, valued at approximately $1,865,318.40. The trade was a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,320 shares of the firm’s stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

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.