Rakuten Securities Inc. Acquires Shares of 186 AMETEK, Inc. (NYSE:AME)

Rakuten Securities Inc. purchased a new position in AMETEK, Inc. (NYSE:AME) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 186 shares of the technology company’s stock, valued at approximately $31,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Tyche Wealth Partners LLC bought a new position in shares of AMETEK in the fourth quarter worth about $6,275,000. Desjardins Global Asset Management Inc. grew its holdings in shares of AMETEK by 1.2% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 8,753 shares of the technology company’s stock worth $1,443,000 after purchasing an additional 101 shares during the last quarter. SVB Wealth LLC bought a new position in shares of AMETEK in the fourth quarter worth about $249,000. Waldron Private Wealth LLC grew its holdings in shares of AMETEK by 1.1% in the fourth quarter. Waldron Private Wealth LLC now owns 8,536 shares of the technology company’s stock worth $1,407,000 after purchasing an additional 97 shares during the last quarter. Finally, Conning Inc. bought a new position in shares of AMETEK in the fourth quarter worth about $210,000. 87.43% of the stock is currently owned by institutional investors.

Insider Activity at AMETEK

In related news, CFO William Joseph Burke sold 5,973 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $168.90, for a total value of $1,008,839.70. Following the completion of the transaction, the chief financial officer now directly owns 101,709 shares of the company’s stock, valued at approximately $17,178,650.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Steven W. Kohlhagen sold 1,400 shares of the stock in a transaction that occurred on 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 owns 28,054 shares in the company, valued at approximately $5,066,271.86. The sale was disclosed in a filing with the SEC, which is available through this link. 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 transaction of $1,008,839.70. Following the completion of 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 three months. 0.61% of the stock is owned by insiders.

AMETEK Stock Performance

AME stock opened at $177.27 on Friday. The firm has a market cap of $40.99 billion, a price-to-earnings ratio of 31.26, a PEG ratio of 2.86 and a beta of 1.22. The firm has a 50-day simple moving average of $179.26 and a two-hundred day simple moving average of $164.13. AMETEK, Inc. has a one year low of $133.12 and a one year high of $186.32. 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 (NYSE:AME) last released its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.62 by $0.06. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.73 billion. AMETEK had a net margin of 19.91% and a return on equity of 17.96%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.52 earnings per share. On average, equities analysts forecast that AMETEK, Inc. will post 6.82 EPS for the current fiscal 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 given a $0.28 dividend. 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 0.63%. The ex-dividend date was Thursday, March 7th. AMETEK’s dividend payout ratio (DPR) is presently 19.75%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. KeyCorp upped their price target on shares of AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Truist Financial began coverage on shares of AMETEK in a research note on Thursday, March 14th. They issued a “buy” rating and a $210.00 price objective for the company. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. Finally, Royal Bank of Canada lowered their price objective 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. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, 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.