Tobam Invests $68,000 in AMETEK, Inc. (NYSE:AME)

Tobam acquired a new position in AMETEK, Inc. (NYSE:AME) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 414 shares of the technology company’s stock, valued at approximately $68,000.

Other institutional investors have also recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of AMETEK in the 4th quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in AMETEK during the 4th quarter worth about $26,000. Bruce G. Allen Investments LLC acquired a new stake in AMETEK during the 4th quarter worth about $28,000. Resurgent Financial Advisors LLC acquired a new stake in AMETEK during the 4th quarter worth about $28,000. Finally, Covestor Ltd lifted its position in AMETEK by 84.3% during the 1st quarter. Covestor Ltd now owns 212 shares of the technology company’s stock worth $28,000 after acquiring an additional 97 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Stock Up 0.4 %

AME opened at $180.50 on Friday. The company has a fifty day moving average of $178.07 and a two-hundred day moving average of $163.12. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.59 and a current ratio of 0.98. AMETEK, Inc. has a fifty-two week low of $133.12 and a fifty-two week high of $186.32. The stock has a market capitalization of $41.73 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 2.89 and a beta of 1.22.

AMETEK (NYSE:AME) last posted its earnings results on Tuesday, February 6th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.06. AMETEK had a net margin of 19.91% and a return on equity of 17.96%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company posted $1.52 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, research analysts expect that AMETEK, Inc. will post 6.82 earnings per share for the current year.

AMETEK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were paid 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 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, March 7th. AMETEK’s dividend payout ratio is presently 19.75%.

Analyst Upgrades and Downgrades

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

Insider Transactions at AMETEK

In other news, Director Thomas A. Amato sold 780 shares of the stock in a transaction dated 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 directly owns 10,240 shares of the company’s stock, valued at approximately $1,863,680. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, 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 completion of the transaction, the director now owns 28,054 shares in the company, valued at approximately $5,066,271.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas A. Amato sold 780 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total transaction of $141,960.00. Following the transaction, the director now owns 10,240 shares of the company’s stock, valued at approximately $1,863,680. The disclosure for this sale can be found here. Insiders have sold a total of 59,881 shares of company stock valued at $10,689,758 in the last ninety days. 0.61% of the stock is currently owned by corporate insiders.

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.