Quantbot Technologies LP Purchases 11,261 Shares of AMETEK, Inc. (NYSE:AME)

Quantbot Technologies LP increased its stake in AMETEK, Inc. (NYSE:AME) by 36.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,513 shares of the technology company’s stock after acquiring an additional 11,261 shares during the period. Quantbot Technologies LP’s holdings in AMETEK were worth $7,663,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Semanteon Capital Management LP purchased a new stake in shares of AMETEK in the fourth quarter worth approximately $223,000. iA Global Asset Management Inc. lifted its stake in shares of AMETEK by 5.1% during the 4th quarter. iA Global Asset Management Inc. now owns 37,476 shares of the technology company’s stock worth $6,755,000 after purchasing an additional 1,822 shares during the last quarter. Magnetar Financial LLC lifted its position in shares of AMETEK by 19.4% during the fourth quarter. Magnetar Financial LLC now owns 7,798 shares of the technology company’s stock valued at $1,406,000 after buying an additional 1,268 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of AMETEK by 49.1% in the 4th quarter. Teacher Retirement System of Texas now owns 93,232 shares of the technology company’s stock worth $16,806,000 after purchasing an additional 30,716 shares in the last quarter. Finally, Royal London Asset Management Ltd. boosted its stake in AMETEK by 5.1% in the 4th quarter. Royal London Asset Management Ltd. now owns 432,790 shares of the technology company’s stock worth $78,015,000 after purchasing an additional 21,011 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insider Activity at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,320 shares of the business’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 completion of the sale, the director now directly owns 22,029 shares in the company, valued at approximately $4,172,512.89. The trade was a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is owned by insiders.

AMETEK Stock Performance

Shares of NYSE:AME opened at $172.54 on Friday. The business has a 50-day moving average of $183.15 and a two-hundred day moving average of $180.14. 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 firm has a market capitalization of $39.80 billion, a PE ratio of 29.10, a P/E/G ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.02. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.82 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. AMETEK’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.68 earnings per share. As a group, 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 plan on Friday, February 7th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

AMETEK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 0.72%. This is a boost from AMETEK’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, March 14th. AMETEK’s dividend payout ratio (DPR) is presently 20.91%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AME. Truist Financial raised their price target on shares of AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Bank of America raised shares of AMETEK from a “neutral” rating to a “buy” rating and lifted their price target for the company from $195.00 to $225.00 in a research note on Monday, December 16th. KeyCorp increased their target price on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Robert W. Baird decreased their price target 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. Finally, StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a research note on Sunday, March 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AMETEK presently has an average rating of “Moderate Buy” and a consensus price target of $204.67.

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.