M&T Bank Corp Boosts Stake in AMETEK, Inc. (NYSE:AME)

M&T Bank Corp lifted its holdings in AMETEK, Inc. (NYSE:AME) by 0.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,442 shares of the technology company’s stock after buying an additional 73 shares during the period. M&T Bank Corp’s holdings in AMETEK were worth $2,547,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AME. Morgan Stanley boosted its position in AMETEK by 19.2% in the third quarter. Morgan Stanley now owns 4,189,108 shares of the technology company’s stock worth $618,983,000 after purchasing an additional 674,549 shares during the last quarter. Flossbach Von Storch AG grew its position in AMETEK by 10.8% during the fourth quarter. Flossbach Von Storch AG now owns 2,586,030 shares of the technology company’s stock valued at $426,410,000 after buying an additional 252,455 shares during the period. Northern Trust Corp grew its position in AMETEK by 4.3% during the third quarter. Northern Trust Corp now owns 2,362,467 shares of the technology company’s stock valued at $349,078,000 after buying an additional 96,793 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in AMETEK by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,193,916 shares of the technology company’s stock worth $176,413,000 after buying an additional 10,893 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its position in AMETEK by 84.9% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,081,557 shares of the technology company’s stock worth $159,811,000 after acquiring an additional 496,523 shares during the period. 87.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Robert W. Baird decreased their target price on AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research report on Monday. Royal Bank of Canada lowered their target price on AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. KeyCorp increased their price target on AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Finally, Truist Financial initiated coverage on AMETEK in a research note on Thursday, March 14th. They issued a “buy” rating and a $210.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.80.

AMETEK Stock Performance

Shares of AME opened at $169.14 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 1.11. The stock has a market capitalization of $39.15 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 2.66 and a beta of 1.21. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32. The stock’s 50-day simple moving average is $179.26 and its 200 day simple moving average is $166.69.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.49 earnings per share. Research analysts forecast that AMETEK, Inc. will post 6.81 EPS for the current fiscal year.

AMETEK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were given a dividend of $0.28 per share. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Thursday, March 7th. AMETEK’s payout ratio is 19.68%.

Insider Transactions at AMETEK

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

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.