AMETEK, Inc. (NYSE:AME) Shares Bought by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of AMETEK, Inc. (NYSE:AME) by 91.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,842 shares of the technology company’s stock after purchasing an additional 25,238 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in AMETEK were worth $9,525,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new stake in shares of AMETEK in the fourth quarter valued at $37,000. AdvisorNet Financial Inc boosted its position in shares of AMETEK by 1,176.5% during the 4th quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock valued at $39,000 after purchasing an additional 200 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of AMETEK by 42.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock worth $42,000 after purchasing an additional 70 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of AMETEK in the 4th quarter worth approximately $43,000. Finally, Quent Capital LLC lifted its stake in AMETEK by 60.9% during the fourth quarter. Quent Capital LLC now owns 251 shares of the technology company’s stock valued at $45,000 after purchasing an additional 95 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Stock Performance

Shares of AME stock opened at $171.69 on Friday. The firm has a market cap of $39.64 billion, a P/E ratio of 28.95, a PEG ratio of 2.73 and a beta of 1.12. The stock’s 50-day moving average is $168.51 and its two-hundred day moving average is $179.39. AMETEK, Inc. has a fifty-two week low of $145.02 and a fifty-two week high of $198.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.69 by $0.06. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the business posted $1.64 EPS. AMETEK’s quarterly revenue was down .2% on a year-over-year basis. Analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK declared that its Board of Directors has approved a share buyback plan on Friday, February 7th that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Friday, June 13th. AMETEK’s payout ratio is 20.29%.

Insider Buying and Selling

In other news, Director Thomas A. Amato sold 710 shares of the firm’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the sale, the director now directly owns 10,560 shares of the company’s stock, valued at approximately $1,865,318.40. This trade represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,320 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the transaction, the director now directly owns 22,029 shares of the company’s stock, valued at $4,172,512.89. This represents a 5.65 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on AME shares. Royal Bank of Canada upped their price target on AMETEK from $194.00 to $201.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. Truist Financial upped their price objective on shares of AMETEK from $196.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Morgan Stanley began coverage on shares of AMETEK in a research report on Monday, April 14th. They issued an “equal weight” rating and a $170.00 target price on the stock. Finally, Robert W. Baird reduced their price target on shares of AMETEK from $197.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AMETEK presently has a consensus rating of “Moderate Buy” and an average price target of $196.90.

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.