Janus Henderson Group PLC Decreases Position in AMETEK, Inc. (NYSE:AME)

Janus Henderson Group PLC reduced its stake in AMETEK, Inc. (NYSE:AME) by 11.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 234,059 shares of the technology company’s stock after selling 30,854 shares during the period. Janus Henderson Group PLC owned 0.10% of AMETEK worth $42,194,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Banque Transatlantique SA acquired a new stake in shares of AMETEK in the 4th quarter valued at about $37,000. AdvisorNet Financial Inc boosted its stake in AMETEK by 1,176.5% during the 4th quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock worth $39,000 after purchasing an additional 200 shares during the period. Geneos Wealth Management Inc. increased its stake in AMETEK by 42.9% in the fourth 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. OFI Invest Asset Management acquired a new stake in shares of AMETEK during the fourth quarter worth about $43,000. Finally, Quent Capital LLC raised its stake in AMETEK by 60.9% during the 4th quarter. Quent Capital LLC now owns 251 shares of the technology company’s stock valued at $45,000 after acquiring an additional 95 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AME. Royal Bank of Canada boosted their price target on shares of AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Robert W. Baird dropped their target price on AMETEK from $197.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Morgan Stanley started coverage on AMETEK in a report on Monday, April 14th. They issued an “equal weight” rating and a $170.00 price target for the company. Truist Financial upped their price objective on AMETEK from $196.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Finally, 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $196.90.

AMETEK Price Performance

Shares of AMETEK stock opened at $180.47 on Wednesday. The business’s fifty day moving average price is $168.33 and its 200 day moving average price is $179.66. AMETEK, Inc. has a twelve month low of $145.02 and a twelve month high of $198.33. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $41.67 billion, a P/E ratio of 30.43, a PEG ratio of 2.73 and a beta of 1.12.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.06. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. AMETEK’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.64 earnings per share. As a group, research analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.24 annualized dividend and a dividend yield of 0.69%. AMETEK’s payout ratio is currently 20.29%.

AMETEK announced that its Board of Directors has initiated a share repurchase program on Friday, February 7th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the technology company to buy up to 2.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the stock in a transaction dated Monday, March 3rd. The stock was 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 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 is accessible through this link. Also, Director Thomas A. Amato sold 710 shares of AMETEK stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the sale, the director now owns 10,560 shares in the company, valued at $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. 0.57% of the stock is owned by company insiders.

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.