AIA Group Ltd Acquires 9,983 Shares of AMETEK, Inc. (NYSE:AME)

AIA Group Ltd raised its stake in shares of AMETEK, Inc. (NYSE:AME) by 221.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,496 shares of the technology company’s stock after purchasing an additional 9,983 shares during the quarter. AIA Group Ltd’s holdings in AMETEK were worth $2,390,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of AME. McGlone Suttner Wealth Management Inc. acquired a new position in AMETEK during the fourth quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of AMETEK during the 4th quarter worth about $26,000. Bruce G. Allen Investments LLC bought a new position in AMETEK during the 4th quarter valued at about $28,000. Covestor Ltd boosted its position in AMETEK by 84.3% in the first quarter. Covestor Ltd now owns 212 shares of the technology company’s stock valued at $28,000 after buying an additional 97 shares in the last quarter. Finally, Resurgent Financial Advisors LLC bought a new stake in AMETEK during the fourth quarter worth about $28,000. 87.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

AMETEK Stock Down 0.4 %

Shares of NYSE AME opened at $177.27 on Friday. AMETEK, Inc. has a 1 year low of $133.12 and a 1 year high of $186.32. The firm’s 50-day moving average is $179.26 and its 200-day moving average is $164.13. The company has a current ratio of 0.98, a quick ratio of 0.59 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $40.99 billion, a PE ratio of 31.26, a price-to-earnings-growth ratio of 2.84 and a beta of 1.22.

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. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.73 billion. AMETEK had a net margin of 19.91% and a return on equity of 17.96%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $1.52 earnings per share. Equities analysts expect that AMETEK, Inc. will post 6.82 EPS for the current year.

AMETEK Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have recently commented on AME shares. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. KeyCorp raised their target price on AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Truist Financial began coverage on shares of AMETEK in a research report on Thursday, March 14th. They issued a “buy” rating and a $210.00 price objective for the company. Finally, Royal Bank of Canada reduced their target price 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. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, AMETEK 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.