PNC Financial Services Group Inc. Purchases 2,868 Shares of AMETEK, Inc. (NYSE:AME)

PNC Financial Services Group Inc. raised its holdings in shares of AMETEK, Inc. (NYSE:AME) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,631 shares of the technology company’s stock after purchasing an additional 2,868 shares during the period. PNC Financial Services Group Inc.’s holdings in AMETEK were worth $35,986,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. MassMutual Private Wealth & Trust FSB raised its holdings in shares of AMETEK by 4.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company’s stock valued at $261,000 after acquiring an additional 63 shares in the last quarter. AlphaMark Advisors LLC raised its holdings in AMETEK by 2.1% in the 4th quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company’s stock worth $604,000 after purchasing an additional 70 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in AMETEK by 42.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock worth $42,000 after purchasing an additional 70 shares in the last quarter. Quotient Wealth Partners LLC raised its stake in AMETEK by 3.9% in the fourth quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company’s stock worth $332,000 after buying an additional 70 shares in the last quarter. Finally, Howard Capital Management Inc. raised its stake in AMETEK by 5.0% in the fourth quarter. Howard Capital Management Inc. now owns 1,501 shares of the technology company’s stock worth $271,000 after buying an additional 72 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

Analysts Set New Price Targets

AME has been the subject of a number of research reports. StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a report on Sunday. KeyCorp raised their price objective on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. BNP Paribas upgraded AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target for the company in a report on Thursday, January 16th. Truist Financial raised their price target on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Robert W. Baird reduced their price objective on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $204.67.

AMETEK Trading Down 0.0 %

NYSE:AME opened at $184.12 on Monday. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a 12 month low of $149.03 and a 12 month high of $198.33. The company has a market cap of $42.47 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. The company has a 50 day simple moving average of $183.38 and a two-hundred day simple moving average of $180.03.

AMETEK (NYSE:AME) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.82 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.68 EPS. Research analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.24 annualized dividend and a dividend yield of 0.67%. This is an increase from AMETEK’s previous quarterly dividend of $0.28. AMETEK’s dividend payout ratio (DPR) is 20.91%.

AMETEK declared that its Board of Directors has authorized a stock repurchase program on Friday, February 7th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the technology company to buy up to 2.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,320 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $189.41, for a total transaction of $250,021.20. Following the sale, the director now directly owns 22,029 shares in the company, valued at $4,172,512.89. This trade represents a 5.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.61% of the company’s stock.

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.