CIBC Private Wealth Group LLC Sells 7,580 Shares of AMETEK, Inc. (NYSE:AME)

CIBC Private Wealth Group LLC decreased its holdings in shares of AMETEK, Inc. (NYSE:AME) by 2.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 257,791 shares of the technology company’s stock after selling 7,580 shares during the period. CIBC Private Wealth Group LLC’s holdings in AMETEK were worth $46,003,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of AME. Schroder Investment Management Group lifted its holdings in shares of AMETEK by 377.6% in the 4th quarter. Schroder Investment Management Group now owns 274,703 shares of the technology company’s stock valued at $49,518,000 after acquiring an additional 217,185 shares during the last quarter. Intrust Bank NA raised its position in AMETEK by 3.9% during the fourth quarter. Intrust Bank NA now owns 13,999 shares of the technology company’s stock valued at $2,523,000 after purchasing an additional 527 shares during the period. Allstate Corp bought a new stake in shares of AMETEK in the 4th quarter valued at approximately $1,243,000. DnB Asset Management AS boosted its holdings in shares of AMETEK by 0.9% in the 4th quarter. DnB Asset Management AS now owns 127,344 shares of the technology company’s stock worth $22,955,000 after purchasing an additional 1,087 shares during the period. Finally, Level Four Advisory Services LLC boosted its holdings in shares of AMETEK by 3.1% in the 4th quarter. Level Four Advisory Services LLC now owns 2,624 shares of the technology company’s stock worth $473,000 after purchasing an additional 80 shares during the period. Institutional investors own 87.43% of the company’s stock.

Insider Transactions at AMETEK

In other AMETEK news, Director Thomas A. Amato sold 710 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $1,865,318.40. This trade represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven W. Kohlhagen sold 1,320 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the transaction, 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 disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. BNP Paribas upgraded AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target for the company in a research report on Thursday, January 16th. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Robert W. Baird cut their price target on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Truist Financial raised their price objective on shares of AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and upped their target price for the company from $195.00 to $225.00 in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.67.

AMETEK Stock Down 3.0 %

Shares of NYSE AME opened at $170.25 on Monday. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week high of $198.33. The firm has a market capitalization of $39.28 billion, a price-to-earnings ratio of 28.71, a PEG ratio of 2.73 and a beta of 1.14. The stock has a 50 day moving average price of $182.60 and a 200 day moving average price of $181.03. 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 issued its earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.02. The business had revenue of $1.76 billion during 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%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.68 EPS. Sell-side analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK declared that its Board of Directors has authorized a stock buyback program on Friday, February 7th that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the technology company to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

AMETEK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.31 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.24 annualized dividend and a dividend yield of 0.73%. This is a positive change from AMETEK’s previous quarterly dividend of $0.28. AMETEK’s payout ratio is currently 20.91%.

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.