Jennison Associates LLC Has $51.92 Million Stock Position in AMETEK, Inc. (NYSE:AME)

Jennison Associates LLC boosted its holdings in AMETEK, Inc. (NYSE:AME) by 59.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 314,881 shares of the technology company’s stock after buying an additional 117,205 shares during the quarter. Jennison Associates LLC owned approximately 0.14% of AMETEK worth $51,921,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Morgan Stanley raised 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 valued at $618,983,000 after purchasing an additional 674,549 shares during the last quarter. Flossbach Von Storch AG raised its position in AMETEK by 10.8% in 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 purchasing an additional 252,455 shares during the last quarter. Northern Trust Corp raised its position in shares of AMETEK by 4.3% during the third quarter. Northern Trust Corp now owns 2,362,467 shares of the technology company’s stock worth $349,078,000 after acquiring an additional 96,793 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of 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 acquiring an additional 10,893 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of AMETEK by 84.9% during 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 last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AMETEK

In related news, CFO William Joseph Burke sold 27,400 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $185.05, for a total transaction of $5,070,370.00. Following the sale, the chief financial officer now directly owns 106,512 shares in the company, valued at approximately $19,710,045.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Thomas M. Montgomery sold 6,891 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $185.38, for a total value of $1,277,453.58. Following the completion of the transaction, the vice president now directly owns 21,543 shares in the company, valued at approximately $3,993,641.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William Joseph Burke sold 27,400 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $185.05, for a total value of $5,070,370.00. Following the completion of the transaction, the chief financial officer now owns 106,512 shares of the company’s stock, valued at $19,710,045.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,881 shares of company stock worth $10,689,758. 0.61% of the stock is owned by company insiders.

AMETEK Stock Up 1.1 %

AME stock opened at $179.85 on Wednesday. The stock has a market cap of $41.58 billion, a P/E ratio of 31.72, a P/E/G ratio of 2.84 and a beta of 1.22. The stock’s fifty day simple moving average is $179.87 and its two-hundred day simple moving average is $164.97. The company has a current ratio of 0.98, a quick ratio of 0.59 and a debt-to-equity ratio of 0.22. AMETEK, Inc. has a 1-year low of $133.12 and a 1-year high of $186.32.

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

AMETEK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, March 7th. AMETEK’s payout ratio is presently 19.75%.

Analyst Upgrades and Downgrades

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

AMETEK Company 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.