Russell Investments Group Ltd. Has $14.71 Million Stake in AMETEK, Inc. (NYSE:AME)

Russell Investments Group Ltd. lifted its position in shares of AMETEK, Inc. (NYSE:AME) by 26.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,202 shares of the technology company’s stock after buying an additional 18,588 shares during the period. Russell Investments Group Ltd.’s holdings in AMETEK were worth $14,713,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Mountain Pacific Investment Advisers Inc. ID boosted its position in AMETEK by 0.3% during the 4th quarter. Mountain Pacific Investment Advisers Inc. ID now owns 488,231 shares of the technology company’s stock worth $80,504,000 after acquiring an additional 1,431 shares during the last quarter. Truist Financial Corp grew its holdings in shares of AMETEK by 2.4% in the 4th quarter. Truist Financial Corp now owns 53,871 shares of the technology company’s stock valued at $8,883,000 after acquiring an additional 1,252 shares in the last quarter. Bryn Mawr Capital Management LLC bought a new stake in AMETEK during the fourth quarter worth about $757,000. Bank Julius Baer & Co. Ltd Zurich boosted its position in AMETEK by 4,845.8% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 677,075 shares of the technology company’s stock valued at $111,643,000 after purchasing an additional 663,385 shares during the last quarter. Finally, Syon Capital LLC boosted its position in AMETEK by 26.5% during the fourth quarter. Syon Capital LLC now owns 2,452 shares of the technology company’s stock valued at $404,000 after purchasing an additional 513 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO William Joseph Burke sold 17,437 shares of AMETEK 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 completion of the sale, the chief financial officer now directly owns 101,709 shares in the company, valued at $17,138,983.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other AMETEK news, VP Thomas M. Montgomery sold 6,891 shares of the firm’s stock in a transaction dated 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 directly owns 21,543 shares of the company’s stock, valued at approximately $3,993,641.34. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO William Joseph Burke sold 17,437 shares of the company’s 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 sale, the chief financial officer now directly owns 101,709 shares of the company’s stock, valued at approximately $17,138,983.59. The disclosure for this sale can be found here. Insiders have sold a total of 59,881 shares of company stock worth $10,689,758 in the last quarter. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AME. Royal Bank of Canada dropped their price objective on AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Truist Financial initiated 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. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. Finally, KeyCorp boosted their price target on AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $180.78.

AMETEK Trading Up 1.9 %

Shares of NYSE:AME opened at $166.49 on Friday. AMETEK, Inc. has a 12-month low of $136.89 and a 12-month high of $186.32. The business has a 50 day moving average of $179.88 and a 200-day moving average of $165.94. 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 stock has a market cap of $38.49 billion, a PE ratio of 29.36, a P/E/G ratio of 2.78 and a beta of 1.21.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.05. AMETEK had a return on equity of 17.96% and a net margin of 19.91%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the company posted $1.49 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts forecast that AMETEK, Inc. will post 6.82 earnings per share for the current year.

AMETEK Increases Dividend

The firm also recently disclosed 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 boost 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 0.67%. AMETEK’s payout ratio is 19.75%.

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.