Intrust Bank NA Increases Holdings in AMETEK, Inc. (NYSE:AME)

Intrust Bank NA boosted its stake in AMETEK, Inc. (NYSE:AME) by 4.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,702 shares of the technology company’s stock after buying an additional 523 shares during the quarter. Intrust Bank NA’s holdings in AMETEK were worth $2,259,000 as of its most recent filing with the SEC.

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

AMETEK Stock Performance

NYSE AME traded up $0.18 during trading hours on Monday, reaching $177.69. The company’s stock had a trading volume of 689,536 shares, compared to its average volume of 926,879. The business has a 50-day simple moving average of $180.12 and a 200 day simple moving average of $165.53. AMETEK, Inc. has a 52 week low of $136.89 and a 52 week high of $186.32. The stock has a market cap of $41.08 billion, a PE ratio of 31.40, a PEG ratio of 2.84 and a beta of 1.22. 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 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. AMETEK had a net margin of 19.91% and a return on equity of 17.96%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the business earned $1.52 earnings per share. AMETEK’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that AMETEK, Inc. will post 6.82 earnings per share for the current fiscal year.

AMETEK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 8th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. AMETEK’s dividend payout ratio (DPR) is presently 19.75%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Truist Financial assumed coverage on AMETEK in a research note on Thursday, March 14th. They set a “buy” rating and a $210.00 target price for the company. Royal Bank of Canada reduced their price target on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Finally, KeyCorp increased their price target on shares of AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $180.78.

Insider Buying and Selling at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $180.59, for a total transaction of $252,826.00. Following the transaction, the director now owns 28,054 shares in the company, valued at $5,066,271.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Steven W. Kohlhagen sold 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $180.59, for a total transaction of $252,826.00. Following the transaction, the director now owns 28,054 shares in the company, valued at $5,066,271.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 owns 101,709 shares in the company, valued at approximately $17,138,983.59. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,881 shares of company stock worth $10,689,758. 0.61% of the stock is owned by company insiders.

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.