AMETEK, Inc. (NYSE:AME) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its holdings in shares of AMETEK, Inc. (NYSE:AME) by 1.8% in the 4th quarter, Holdings Channel reports. The fund owned 939,921 shares of the technology company’s stock after selling 17,400 shares during the period. Wellington Management Group LLP’s holdings in AMETEK were worth $169,430,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AME. MassMutual Private Wealth & Trust FSB boosted its holdings in AMETEK by 4.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company’s stock valued at $261,000 after purchasing an additional 63 shares during the last quarter. Kensington Investment Counsel LLC raised its position in shares of AMETEK by 0.5% in the 4th quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company’s stock valued at $2,574,000 after purchasing an additional 66 shares in the last quarter. AlphaMark Advisors LLC raised its position in shares of AMETEK by 2.1% in the 4th quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company’s stock valued at $604,000 after purchasing an additional 70 shares in the last quarter. Geneos Wealth Management Inc. boosted 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 valued at $42,000 after buying an additional 70 shares during the last quarter. Finally, Quotient Wealth Partners LLC grew its position in shares of AMETEK by 3.9% during the fourth quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company’s stock worth $332,000 after buying an additional 70 shares in the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,320 shares of AMETEK 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas A. Amato sold 710 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $176.64, for a total transaction of $125,414.40. Following the completion of the sale, the director now directly owns 10,560 shares of the company’s stock, valued at $1,865,318.40. The trade was a 6.30 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

AMETEK Price Performance

Shares of AME opened at $172.60 on Thursday. AMETEK, Inc. has a 12 month low of $149.03 and a 12 month high of $198.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75. The stock has a fifty day moving average price of $181.85 and a 200 day moving average price of $181.03. The company has a market cap of $39.83 billion, a P/E ratio of 29.11, a PEG ratio of 2.73 and a beta of 1.14.

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

AMETEK announced that its Board of Directors has authorized 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 repurchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

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 given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from AMETEK’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 0.72%. AMETEK’s payout ratio is currently 20.91%.

Analyst Ratings Changes

Several research firms recently issued reports on AME. Truist Financial upped their price target on shares of AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a report on Thursday, January 16th. StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Thursday. Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $195.00 to $225.00 in a report on Monday, December 16th. Robert W. Baird cut their price objective on AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Finally, BNP Paribas upgraded AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price for the company in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $204.67.

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.