Fox Run Management L.L.C. Purchases 3,584 Shares of AMETEK, Inc. (NYSE:AME)

Fox Run Management L.L.C. raised its holdings in AMETEK, Inc. (NYSE:AME) by 74.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,418 shares of the technology company’s stock after buying an additional 3,584 shares during the quarter. Fox Run Management L.L.C.’s holdings in AMETEK were worth $1,517,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. State Street Corp increased its stake in AMETEK by 0.3% in the third quarter. State Street Corp now owns 9,220,376 shares of the technology company’s stock valued at $1,583,231,000 after acquiring an additional 24,072 shares during the period. JPMorgan Chase & Co. grew its stake in shares of AMETEK by 3.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company’s stock valued at $1,199,454,000 after purchasing an additional 250,538 shares during the period. Geode Capital Management LLC raised its holdings in shares of AMETEK by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company’s stock worth $924,308,000 after buying an additional 45,459 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of AMETEK by 2.3% during the 4th quarter. Bank of New York Mellon Corp now owns 4,415,508 shares of the technology company’s stock worth $795,939,000 after buying an additional 99,505 shares during the period. Finally, Flossbach Von Storch SE boosted its stake in AMETEK by 2.5% in the 4th quarter. Flossbach Von Storch SE now owns 3,724,352 shares of the technology company’s stock valued at $671,352,000 after buying an additional 91,287 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on AME shares. KeyCorp lifted their price objective on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Truist Financial lifted 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. Robert W. Baird decreased their price objective on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price for the company in a research note on Thursday, January 16th. Finally, Bank of America upgraded AMETEK from a “neutral” rating to a “buy” rating and increased their price target for the stock from $195.00 to $225.00 in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.67.

AMETEK Stock Down 0.8 %

NYSE:AME opened at $174.50 on Friday. The stock’s fifty day moving average price is $182.92 and its two-hundred day moving average price is $180.43. The company has a market cap of $40.26 billion, a price-to-earnings ratio of 29.43, a P/E/G ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week high of $198.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24.

AMETEK (NYSE:AME) last announced 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 firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the company earned $1.68 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. On average, analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from AMETEK’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a yield of 0.71%. AMETEK’s dividend payout ratio (DPR) is presently 20.91%.

AMETEK announced that its Board of Directors has approved a share repurchase plan on Friday, February 7th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the technology company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at AMETEK

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 transaction of $250,021.20. Following the completion of the sale, the director now directly owns 22,029 shares of the company’s stock, 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 at this link. Corporate insiders own 0.61% 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.