Syon Capital LLC Raises Stock Position in AMETEK, Inc. (NYSE:AME)

Syon Capital LLC raised its stake in shares of AMETEK, Inc. (NYSE:AME) by 26.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,452 shares of the technology company’s stock after buying an additional 513 shares during the period. Syon Capital LLC’s holdings in AMETEK were worth $404,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Giverny Capital Inc. lifted its holdings in AMETEK by 0.5% in the third quarter. Giverny Capital Inc. now owns 897,056 shares of the technology company’s stock valued at $132,549,000 after acquiring an additional 4,556 shares during the period. Kestra Private Wealth Services LLC lifted its stake in shares of AMETEK by 11.6% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 3,637 shares of the technology company’s stock worth $537,000 after purchasing an additional 378 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of AMETEK by 161.0% in the fourth quarter. Pacer Advisors Inc. now owns 44,684 shares of the technology company’s stock worth $7,368,000 after buying an additional 27,562 shares during the last quarter. Tyche Wealth Partners LLC bought a new stake in AMETEK during the fourth quarter valued at approximately $6,275,000. Finally, Whittier Trust Co. increased its holdings in AMETEK by 9.0% during the third quarter. Whittier Trust Co. now owns 3,117 shares of the technology company’s stock valued at $461,000 after buying an additional 258 shares during the last quarter. 87.43% of the stock is owned by institutional investors.

AMETEK Stock Performance

NYSE:AME opened at $177.48 on Friday. The stock has a 50-day moving average price of $180.12 and a 200 day moving average price of $165.34. The stock has a market capitalization of $41.04 billion, a P/E ratio of 31.30, a P/E/G ratio of 2.84 and a beta of 1.22. AMETEK, Inc. has a 12-month low of $133.77 and a 12-month high of $186.32. 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 (NYSE:AME) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.06. AMETEK had a net margin of 19.91% and a return on equity of 17.96%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the firm posted $1.52 EPS. The company’s revenue was up 6.1% on a year-over-year basis. Equities research 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. Shareholders of record on Friday, March 8th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from AMETEK’s previous quarterly dividend of $0.25. AMETEK’s dividend payout ratio is 19.75%.

Insider Activity

In related news, CFO William Joseph Burke sold 5,973 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $168.90, for a total value of $1,008,839.70. Following the sale, the chief financial officer now directly owns 101,709 shares in the company, valued at $17,178,650.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other AMETEK news, VP Thomas M. Montgomery sold 6,891 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the completion of the transaction, the vice president now owns 21,543 shares in the company, valued at $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 5,973 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 101,709 shares in the company, valued at $17,178,650.10. The disclosure for this sale can be found here. Insiders sold a total of 59,881 shares of company stock worth $10,689,758 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.