Synovus Financial Corp increased its stake in shares of AMETEK, Inc. (NYSE:AME – Get Rating) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,382 shares of the technology company’s stock after purchasing an additional 72 shares during the period. Synovus Financial Corp’s holdings in AMETEK were worth $333,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. HM Payson & Co. grew its stake in shares of AMETEK by 35.0% during the fourth quarter. HM Payson & Co. now owns 387,405 shares of the technology company’s stock worth $54,128,000 after purchasing an additional 100,373 shares during the period. Los Angeles Capital Management LLC lifted its holdings in AMETEK by 78.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 130,036 shares of the technology company’s stock worth $18,169,000 after acquiring an additional 57,168 shares in the last quarter. AlphaMark Advisors LLC lifted its holdings in AMETEK by 4.8% during the fourth quarter. AlphaMark Advisors LLC now owns 3,818 shares of the technology company’s stock worth $533,000 after acquiring an additional 175 shares in the last quarter. Banque Pictet & Cie SA lifted its holdings in AMETEK by 6.3% during the fourth quarter. Banque Pictet & Cie SA now owns 190,025 shares of the technology company’s stock worth $26,550,000 after acquiring an additional 11,318 shares in the last quarter. Finally, Petredis Investment Advisors LLC bought a new position in AMETEK during the fourth quarter worth about $6,762,000. 85.42% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other AMETEK news, insider Ronald J. Oscher sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $145.28, for a total transaction of $944,320.00. Following the transaction, the insider now owns 28,563 shares of the company’s stock, valued at $4,149,632.64. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Anthony James Conti sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $143.61, for a total value of $287,220.00. Following the transaction, the director now owns 26,078 shares of the company’s stock, valued at $3,745,061.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ronald J. Oscher sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $145.28, for a total value of $944,320.00. Following the completion of the transaction, the insider now directly owns 28,563 shares in the company, valued at approximately $4,149,632.64. The disclosure for this sale can be found here. Insiders have sold a total of 18,160 shares of company stock valued at $2,605,294 over the last 90 days. 0.72% of the stock is currently owned by insiders.
AMETEK Stock Performance
AMETEK (NYSE:AME – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The technology company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.05. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.59 billion. AMETEK had a return on equity of 18.46% and a net margin of 18.85%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.37 earnings per share. As a group, sell-side analysts expect that AMETEK, Inc. will post 5.98 earnings per share for the current fiscal year.
AMETEK Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Thursday, March 9th. This is an increase from AMETEK’s previous quarterly dividend of $0.22. AMETEK’s payout ratio is 19.96%.
Wall Street Analysts Forecast Growth
AME has been the topic of several recent analyst reports. Wolfe Research lowered AMETEK from an “outperform” rating to a “peer perform” rating in a report on Thursday, February 23rd. Mizuho boosted their price target on AMETEK from $145.00 to $153.00 and gave the company a “buy” rating in a report on Friday, January 13th. Morgan Stanley boosted their price target on AMETEK from $152.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Loop Capital boosted their price target on AMETEK from $160.00 to $164.00 in a report on Thursday, January 12th. Finally, StockNews.com began coverage on AMETEK in a report on Thursday, March 16th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and an average price target of $151.11.
About AMETEK
AMETEK, Inc engages in the manufacture of electronic instruments and electromechanical devices. It operates through the following two segments: Electronic Instruments (EIG) and Electromechanical (EMG). The EIG segment designs and manufactures advanced instruments for the process, aerospace, power and industrial markets.
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