AMETEK, Inc. (NYSE:AME) Position Lowered by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its position in shares of AMETEK, Inc. (NYSE:AME) by 11.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 234,059 shares of the technology company’s stock after selling 30,854 shares during the quarter. Janus Henderson Group PLC’s holdings in AMETEK were worth $42,194,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in AME. MassMutual Private Wealth & Trust FSB lifted its stake in AMETEK by 4.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company’s stock worth $261,000 after purchasing an additional 63 shares during the last quarter. Kensington Investment Counsel LLC lifted 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 worth $2,574,000 after buying an additional 66 shares during the last quarter. AlphaMark Advisors LLC boosted its holdings 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 buying an additional 70 shares during the period. Geneos Wealth Management Inc. grew its position 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 raised its stake in 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 acquiring an additional 70 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Trading Up 0.6%

Shares of AMETEK stock opened at $180.47 on Wednesday. The business has a fifty day simple moving average of $168.33 and a 200-day simple moving average of $179.66. AMETEK, Inc. has a fifty-two week low of $145.02 and a fifty-two week high of $198.33. The firm has a market cap of $41.67 billion, a price-to-earnings ratio of 30.43, a price-to-earnings-growth ratio of 2.73 and a beta of 1.12. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.06. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. AMETEK’s revenue was down .2% on a year-over-year basis. During the same period in the prior year, the company earned $1.64 EPS. On average, equities analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

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

AMETEK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Friday, June 13th. AMETEK’s payout ratio is 20.29%.

Insiders Place Their Bets

In related news, Director Thomas A. Amato sold 710 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the completion of the transaction, the director now owns 10,560 shares in the company, valued at $1,865,318.40. This trade represents a 6.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven W. Kohlhagen sold 1,320 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the sale, the director now owns 22,029 shares in the company, valued at approximately $4,172,512.89. The trade was a 5.65% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Royal Bank of Canada raised their price target on AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Morgan Stanley started coverage on AMETEK in a research note on Monday, April 14th. They issued an “equal weight” rating and a $170.00 target price on the stock. StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Monday. BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research report on Thursday, January 16th. Finally, Truist Financial upped their target price 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AMETEK presently has an average rating of “Moderate Buy” and a consensus target price of $196.90.

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.