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

Syon Capital LLC grew its stake in AMETEK, Inc. (NYSE:AME) by 26.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,452 shares of the technology company’s stock after acquiring an additional 513 shares during the quarter. Syon Capital LLC’s holdings in AMETEK were worth $404,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AME. McGlone Suttner Wealth Management Inc. purchased a new position in AMETEK in the 4th quarter valued at about $25,000. Wetzel Investment Advisors Inc. acquired a new position in shares of AMETEK in the fourth quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of AMETEK during the fourth quarter valued at approximately $26,000. Bruce G. Allen Investments LLC acquired a new stake in AMETEK during the fourth quarter worth approximately $28,000. Finally, Rakuten Securities Inc. purchased a new stake in AMETEK in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Price Performance

AMETEK stock opened at $177.48 on Friday. The firm has a fifty day moving average of $180.12 and a 200-day moving average of $165.34. AMETEK, Inc. has a 52-week low of $133.77 and a 52-week high of $186.32. The company has a quick ratio of 0.59, a current ratio of 0.98 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $41.04 billion, a P/E ratio of 31.30, a PEG ratio of 2.84 and a beta of 1.22.

AMETEK (NYSE:AME) last released its quarterly earnings data 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 return on equity of 17.96% and a net margin of 19.91%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the company posted $1.52 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. As a group, analysts predict that AMETEK, Inc. will post 6.82 EPS for the current year.

AMETEK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 8th were given a $0.28 dividend. This is an increase 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 (DPR) is 19.75%.

Analyst Upgrades and Downgrades

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

Insider Transactions at AMETEK

In other AMETEK news, VP Thomas M. Montgomery sold 6,891 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $185.38, for a total value of $1,277,453.58. Following the transaction, the vice president now owns 21,543 shares in the company, valued at approximately $3,993,641.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Thomas M. Montgomery sold 6,891 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now owns 21,543 shares of the company’s stock, valued at $3,993,641.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas A. Amato sold 780 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total transaction of $141,960.00. Following the completion of the sale, the director now directly owns 10,240 shares in the company, valued at $1,863,680. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,881 shares of company stock valued at $10,689,758. Corporate insiders own 0.61% of the company’s stock.

AMETEK 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.