Wolverine Asset Management LLC Invests $1.65 Million in AMETEK, Inc. (NYSE:AME)

Wolverine Asset Management LLC purchased a new position in shares of AMETEK, Inc. (NYSE:AME) in the 4th quarter, Holdings Channel reports. The firm purchased 10,000 shares of the technology company’s stock, valued at approximately $1,649,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Morgan Stanley boosted its holdings 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 in the last quarter. Qube Research & Technologies Ltd acquired a new position in AMETEK in the third quarter valued at $90,248,000. Adage Capital Partners GP L.L.C. boosted its stake in AMETEK by 84.9% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,081,557 shares of the technology company’s stock valued at $159,811,000 after acquiring an additional 496,523 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in AMETEK by 52.9% in the third quarter. The Manufacturers Life Insurance Company now owns 1,032,796 shares of the technology company’s stock valued at $152,606,000 after acquiring an additional 357,212 shares in the last quarter. Finally, Flossbach Von Storch AG boosted its position in shares of AMETEK by 10.8% in the 4th 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 period. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Price Performance

AMETEK stock opened at $178.25 on Thursday. 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. The business has a fifty day moving average of $179.97 and a two-hundred day moving average of $165.07. The company has a market cap of $41.21 billion, a P/E ratio of 31.44, a price-to-earnings-growth ratio of 2.87 and a beta of 1.22.

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

AMETEK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 8th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. This is a boost from AMETEK’s previous quarterly dividend of $0.25. AMETEK’s payout ratio is presently 19.75%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AME shares. KeyCorp upped their target price on AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. Truist Financial initiated coverage on shares of AMETEK in a research note on Thursday, March 14th. They set a “buy” rating and a $210.00 price target for the company. Finally, Royal Bank of Canada decreased their target price 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 analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $180.78.

Insiders Place Their Bets

In related news, CFO William Joseph Burke sold 17,437 shares of AMETEK stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $168.51, for a total transaction of $2,938,308.87. Following the completion of the transaction, the chief financial officer now directly owns 101,709 shares in the company, valued at approximately $17,138,983.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Thomas A. Amato sold 780 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total value of $141,960.00. Following the completion of the transaction, the director now directly owns 10,240 shares of the company’s stock, valued at $1,863,680. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO William Joseph Burke sold 17,437 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $168.51, for a total transaction of $2,938,308.87. Following the completion of the transaction, the chief financial officer now directly owns 101,709 shares of the company’s stock, valued at approximately $17,138,983.59. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,881 shares of company stock worth $10,689,758. Insiders own 0.61% of the company’s stock.

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.