Twinbeech Capital LP Cuts Position in AMETEK, Inc. (NYSE:AME)

Twinbeech Capital LP reduced its holdings in shares of AMETEK, Inc. (NYSE:AME) by 69.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,333 shares of the technology company’s stock after selling 59,455 shares during the quarter. Twinbeech Capital LP’s holdings in AMETEK were worth $4,747,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. MassMutual Private Wealth & Trust FSB raised its stake in shares of AMETEK by 4.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company’s stock worth $261,000 after purchasing an additional 63 shares during the period. Kensington Investment Counsel LLC boosted its stake in AMETEK by 0.5% in the fourth quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company’s stock valued at $2,574,000 after acquiring an additional 66 shares during the last quarter. AlphaMark Advisors LLC boosted its stake in AMETEK by 2.1% in the fourth quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company’s stock valued at $604,000 after acquiring an additional 70 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of AMETEK by 42.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock worth $42,000 after purchasing an additional 70 shares during the last quarter. Finally, Quotient Wealth Partners LLC raised its holdings in shares of AMETEK by 3.9% in the 4th quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company’s stock worth $332,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Stock Down 0.6%

AME stock opened at $180.72 on Wednesday. The stock has a 50-day simple moving average of $168.57 and a two-hundred day simple moving average of $179.93. AMETEK, Inc. has a twelve month low of $145.02 and a twelve month high of $198.33. The firm has a market capitalization of $41.72 billion, a PE ratio of 30.48, a PEG ratio of 2.73 and a beta of 1.12. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.69 by $0.06. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned $1.64 earnings per share. On average, equities analysts predict that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.31 dividend. 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 declared that its Board of Directors has approved a stock repurchase plan on Friday, February 7th that permits the company to buyback $1.25 billion in outstanding shares. This buyback authorization permits the technology company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

AME has been the subject of several research reports. Royal Bank of Canada increased their price objective on AMETEK from $194.00 to $201.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Robert W. Baird cut their price target on AMETEK from $197.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Mizuho set a $212.00 price objective on AMETEK in a research note on Friday. StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Finally, Morgan Stanley began coverage on shares of AMETEK in a research note on Monday, April 14th. They issued an “equal weight” rating and a $170.00 target price for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.10.

Insider Buying and Selling at AMETEK

In other news, Director Thomas A. Amato sold 710 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total transaction of $125,414.40. Following the sale, the director now owns 10,560 shares in the company, valued at approximately $1,865,318.40. This trade represents a 6.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $250,021.20. Following the sale, the director now directly owns 22,029 shares of the company’s stock, valued at $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. 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.