Russell Investments Group Ltd. Raises Stock Position in AMETEK, Inc. (NYSE:AME)

Russell Investments Group Ltd. lifted its stake in AMETEK, Inc. (NYSE:AME) by 26.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,202 shares of the technology company’s stock after purchasing an additional 18,588 shares during the period. Russell Investments Group Ltd.’s holdings in AMETEK were worth $14,713,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. bought a new stake in AMETEK during the 4th quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. bought a new stake in shares of AMETEK during the fourth quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new position in AMETEK in the fourth quarter worth $26,000. Bruce G. Allen Investments LLC purchased a new position in AMETEK during the fourth quarter valued at $28,000. Finally, Rakuten Securities Inc. bought a new stake in shares of AMETEK during the 4th quarter valued at $31,000. Institutional investors own 87.43% of the company’s stock.

Insider Transactions at AMETEK

In related news, Director Thomas A. Amato sold 780 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total value of $141,960.00. Following the sale, the director now owns 10,240 shares in the company, valued at $1,863,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other AMETEK news, Director Thomas A. Amato sold 780 shares of AMETEK stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total value of $141,960.00. Following the completion of the transaction, the director now directly owns 10,240 shares of the company’s stock, valued at approximately $1,863,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven W. Kohlhagen sold 1,400 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $180.59, for a total transaction of $252,826.00. Following the sale, the director now owns 28,054 shares in the company, valued at $5,066,271.86. The disclosure for this sale can be found here. Insiders have sold 59,881 shares of company stock valued at $10,689,758 in the last ninety days. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AME shares. Truist Financial began coverage on shares of AMETEK in a report on Thursday, March 14th. They issued a “buy” rating and a $210.00 price objective on the stock. Royal Bank of Canada reduced their price target on AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. KeyCorp boosted their price objective on shares of AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Finally, StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $180.78.

AMETEK Price Performance

AME stock opened at $166.49 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.59 and a current ratio of 0.98. The company’s fifty day moving average price is $179.88 and its 200-day moving average price is $165.94. AMETEK, Inc. has a one year low of $136.89 and a one year high of $186.32. The company has a market capitalization of $38.49 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 2.78 and a beta of 1.21.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.59 by $0.05. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a net margin of 19.91% and a return on equity of 17.96%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.49 EPS. On average, equities analysts anticipate that AMETEK, Inc. will post 6.82 EPS for the current fiscal year.

AMETEK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 8th were paid a $0.28 dividend. This is an increase from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, March 7th. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. AMETEK’s payout ratio is presently 19.75%.

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.