M&T Bank Corp Acquires 73 Shares of AMETEK, Inc. (NYSE:AME)

M&T Bank Corp increased its holdings in shares of AMETEK, Inc. (NYSE:AME) by 0.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,442 shares of the technology company’s stock after purchasing an additional 73 shares during the quarter. M&T Bank Corp’s holdings in AMETEK were worth $2,547,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. McGlone Suttner Wealth Management Inc. acquired a new position in shares of AMETEK in the fourth quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. bought a new stake in AMETEK in the 4th quarter valued at $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in AMETEK in the 4th quarter worth $26,000. Bruce G. Allen Investments LLC bought a new position in AMETEK during the 4th quarter worth about $28,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of AMETEK in the 4th quarter valued at about $31,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,400 shares of the stock in a transaction dated 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 directly owns 28,054 shares of the company’s stock, valued at $5,066,271.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Steven W. Kohlhagen sold 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $180.59, for a total transaction of $252,826.00. Following the completion of the sale, the director now owns 28,054 shares in the company, valued at $5,066,271.86. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO William Joseph Burke sold 5,973 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $168.90, for a total value of $1,008,839.70. Following the transaction, the chief financial officer now owns 101,709 shares in the company, valued at approximately $17,178,650.10. The disclosure for this sale can be found here. Insiders sold 59,881 shares of company stock valued at $10,689,758 in the last quarter. 0.61% of the stock is currently owned by insiders.

AMETEK Stock Performance

Shares of AME opened at $169.14 on Thursday. The company has a market cap of $39.15 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 2.66 and a beta of 1.21. The firm has a 50-day moving average of $179.26 and a 200-day moving average of $166.69. AMETEK, Inc. has a one year low of $136.89 and a one year high of $186.32. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66.

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

AMETEK Increases Dividend

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

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.