Siemens Fonds Invest GmbH Sells 998 Shares of AMETEK, Inc. (NYSE:AME)

Siemens Fonds Invest GmbH trimmed its position in AMETEK, Inc. (NYSE:AME) by 34.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,912 shares of the technology company’s stock after selling 998 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in AMETEK were worth $345,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Banque Transatlantique SA bought a new position in shares of AMETEK in the 4th quarter valued at $37,000. AdvisorNet Financial Inc grew its position in AMETEK by 1,176.5% in the fourth quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock valued at $39,000 after acquiring an additional 200 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in AMETEK by 42.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock worth $42,000 after acquiring an additional 70 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of AMETEK in the fourth quarter worth about $43,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of AMETEK in the 4th quarter valued at approximately $43,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AME has been the subject of a number of research analyst reports. Truist Financial upped their price objective on shares of AMETEK from $196.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Morgan Stanley started coverage on shares of AMETEK in a report on Monday, April 14th. They set an “equal weight” rating and a $170.00 price target for the company. Royal Bank of Canada boosted their price objective on AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Finally, Robert W. Baird reduced their price target on AMETEK from $197.00 to $190.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AMETEK has an average rating of “Moderate Buy” and an average price target of $196.90.

Insiders Place Their Bets

In other AMETEK news, Director Thomas A. Amato sold 710 shares of AMETEK stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total value 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 approximately $1,865,318.40. The trade was a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,320 shares of the company’s 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 transaction, the director now owns 22,029 shares in the company, valued at $4,172,512.89. This represents a 5.65% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

AMETEK Price Performance

Shares of AME opened at $182.81 on Friday. The business has a 50-day moving average of $168.32 and a 200-day moving average of $179.92. 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 company has a market capitalization of $42.21 billion, a price-to-earnings ratio of 30.83, a price-to-earnings-growth ratio of 2.73 and a beta of 1.12. AMETEK, Inc. has a 1 year low of $145.02 and a 1 year high of $198.33.

AMETEK (NYSE:AME) last released its quarterly earnings results 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. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the business earned $1.64 EPS. The company’s revenue was down .2% compared to the same quarter last year. As a group, equities research analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, June 13th. This represents a $1.24 dividend on an annualized basis and a yield of 0.68%. AMETEK’s dividend payout ratio (DPR) is currently 20.29%.

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

About AMETEK

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.