AMETEK, Inc. (NYSE:AME) Position Lifted by Huntington National Bank

Huntington National Bank raised its stake in AMETEK, Inc. (NYSE:AME) by 9.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,237 shares of the technology company’s stock after purchasing an additional 189 shares during the period. Huntington National Bank’s holdings in AMETEK were worth $403,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in AMETEK in the fourth quarter valued at about $697,080,000. EdgePoint Investment Group Inc. raised its position 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 valued at $337,279,000 after acquiring an additional 918,737 shares in the last quarter. American Century Companies Inc. lifted its stake in AMETEK by 240.3% during the fourth 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. boosted its holdings in AMETEK by 72.0% in 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. Finally, Bryn Mawr Capital Management LLC increased its stake 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 valued at $812,000 after purchasing an additional 471,950 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AME has been the subject of several research reports. Robert W. Baird decreased 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. BNP Paribas raised AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price for the company in a report on Thursday, January 16th. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a report on Thursday. Bank of America upgraded 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 note on Monday, December 16th. Finally, Truist Financial boosted their target price on shares of AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $204.67.

AMETEK Price Performance

Shares of NYSE:AME opened at $152.45 on Friday. The stock has a market cap of $35.18 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 2.73 and a beta of 1.14. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75. AMETEK, Inc. has a 12 month low of $149.03 and a 12 month high of $198.33. The stock’s 50 day moving average price is $180.56 and its 200 day moving average price is $180.79.

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

AMETEK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.24 annualized dividend and a dividend yield of 0.81%. This is a boost from AMETEK’s previous quarterly dividend of $0.28. AMETEK’s payout ratio is currently 20.91%.

AMETEK declared that its Board of Directors has approved a stock repurchase program 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 programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,320 shares of AMETEK stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the transaction, the director now directly owns 22,029 shares in the company, valued at $4,172,512.89. The trade was a 5.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas A. Amato sold 710 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $1,865,318.40. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.57% 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.