UBS Group AG lowered its stake in shares of AMETEK, Inc. (NYSE:AME – Free Report) by 27.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 868,680 shares of the technology company’s stock after selling 329,195 shares during the period. UBS Group AG’s holdings in AMETEK were worth $178,349,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in AME. Darwin Wealth Management LLC acquired a new position in AMETEK during the 2nd quarter valued at about $25,000. CoreCap Advisors LLC boosted its stake in AMETEK by 84.3% during the 4th quarter. CoreCap Advisors LLC now owns 129 shares of the technology company’s stock valued at $26,000 after purchasing an additional 59 shares during the last quarter. TruNorth Capital Management LLC acquired a new position in AMETEK during the 3rd quarter valued at about $31,000. Flagship Harbor Advisors LLC acquired a new position in AMETEK during the 4th quarter valued at about $32,000. Finally, Grey Fox Wealth Advisors LLC acquired a new position in AMETEK during the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 87.43% of the company’s stock.
AMETEK Price Performance
AMETEK stock opened at $227.51 on Thursday. AMETEK, Inc. has a 52 week low of $163.20 and a 52 week high of $242.05. The company’s 50 day moving average price is $225.49 and its two-hundred day moving average price is $212.64. The company has a quick ratio of 0.67, a current ratio of 1.06 and a debt-to-equity ratio of 0.10. The stock has a market cap of $52.11 billion, a P/E ratio of 35.55, a P/E/G ratio of 3.35 and a beta of 1.04.
AMETEK Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $1.36 annualized dividend and a dividend yield of 0.6%. This is an increase from AMETEK’s previous quarterly dividend of $0.31. AMETEK’s payout ratio is 21.25%.
Analyst Ratings Changes
A number of research firms have issued reports on AME. Truist Financial set a $265.00 price target on AMETEK in a research note on Wednesday, February 4th. Royal Bank Of Canada reiterated an “outperform” rating and set a $257.00 price target on shares of AMETEK in a research note on Wednesday, February 4th. Melius Research set a $235.00 price target on AMETEK in a research note on Monday, January 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of AMETEK in a research note on Wednesday, January 21st. Finally, Robert W. Baird dropped their target price on shares of AMETEK from $245.00 to $235.00 and set a “neutral” rating on the stock in a research report on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $244.67.
Check Out Our Latest Stock Analysis on AME
Insider Activity at AMETEK
In related news, Director Thomas A. Amato sold 530 shares of AMETEK stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $216.78, for a total value of $114,893.40. Following the sale, the director owned 4,480 shares of the company’s stock, valued at approximately $971,174.40. The trade was a 10.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.54% of the company’s stock.
AMETEK Company Profile
AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.
The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.
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