AMETEK, Inc. (NYSE:AME) Holdings Raised by Quantinno Capital Management LP

Quantinno Capital Management LP grew its holdings in shares of AMETEK, Inc. (NYSE:AME) by 61.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,579 shares of the technology company’s stock after purchasing an additional 8,965 shares during the period. Quantinno Capital Management LP’s holdings in AMETEK were worth $4,251,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in AMETEK by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 26,147,772 shares of the technology company’s stock worth $4,713,397,000 after acquiring an additional 282,208 shares during the period. FMR LLC raised its position in shares of AMETEK by 1.1% during the 4th quarter. FMR LLC now owns 8,956,329 shares of the technology company’s stock worth $1,614,468,000 after purchasing an additional 98,546 shares during the period. JPMorgan Chase & Co. raised its position in shares of AMETEK by 3.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company’s stock worth $1,199,454,000 after purchasing an additional 250,538 shares during the period. Capital World Investors lifted its holdings in shares of AMETEK by 70.0% in the 4th quarter. Capital World Investors now owns 5,760,017 shares of the technology company’s stock worth $1,038,301,000 after purchasing an additional 2,371,062 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in AMETEK by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 5,526,369 shares of the technology company’s stock valued at $993,546,000 after purchasing an additional 124,713 shares during the period. 87.43% of the stock is currently owned by institutional investors.

AMETEK Trading Up 1.4%

Shares of NYSE:AME opened at $182.81 on Monday. The company has a 50 day moving average of $168.32 and a 200-day moving average of $179.90. 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 firm has a market cap of $42.21 billion, a P/E ratio of 30.83, a P/E/G ratio of 2.73 and a beta of 1.12. AMETEK, Inc. has a twelve month low of $145.02 and a twelve month high of $198.33.

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

AMETEK Announces Dividend

The company 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. This represents a $1.24 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Friday, June 13th. AMETEK’s payout ratio is currently 20.29%.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Morgan Stanley initiated coverage on shares of AMETEK in a research report on Monday, April 14th. They set an “equal weight” rating and a $170.00 price target for the company. Royal Bank of Canada lifted their price objective on shares of AMETEK from $194.00 to $201.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Robert W. Baird reduced their target price on shares of AMETEK from $197.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Finally, Truist Financial raised their price target on shares of AMETEK from $196.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $196.90.

Insiders Place Their Bets

In related news, Director Thomas A. Amato sold 710 shares of AMETEK stock in a transaction 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 transaction, the director now directly owns 10,560 shares in the company, valued at $1,865,318.40. The trade was a 6.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Steven W. Kohlhagen sold 1,320 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $189.41, for a total value of $250,021.20. Following the sale, the director now directly 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 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.