Tokio Marine Asset Management Co. Ltd. Increases Stock Position in AMETEK, Inc. (NYSE:AME)

Tokio Marine Asset Management Co. Ltd. increased its position in shares of AMETEK, Inc. (NYSE:AME) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,928 shares of the technology company’s stock after purchasing an additional 555 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in AMETEK were worth $6,584,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AME. McGlone Suttner Wealth Management Inc. purchased a new stake in AMETEK in the 4th quarter worth about $25,000. Wetzel Investment Advisors Inc. purchased a new position in shares of AMETEK during the 4th quarter valued at $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of AMETEK in the fourth quarter worth $26,000. Bruce G. Allen Investments LLC bought a new stake in AMETEK during the fourth quarter valued at $28,000. Finally, Rakuten Securities Inc. bought a new position in AMETEK in the 4th quarter worth about $31,000. 87.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other AMETEK news, CFO William Joseph Burke sold 17,437 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were 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 owns 101,709 shares in the company, valued at approximately $17,138,983.59. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO William Joseph Burke sold 17,437 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were 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 owns 101,709 shares of the company’s stock, valued at $17,138,983.59. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven W. Kohlhagen sold 1,400 shares of AMETEK stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $180.59, for a total transaction of $252,826.00. Following the completion of the transaction, the director now directly owns 28,054 shares of the company’s stock, valued at $5,066,271.86. 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. Insiders own 0.61% of the company’s stock.

AMETEK Trading Down 0.9 %

NYSE:AME traded down $1.60 during trading hours on Wednesday, hitting $178.25. The company had a trading volume of 867,347 shares, compared to its average volume of 935,760. The stock has a 50-day moving average price of $179.97 and a 200 day moving average price of $165.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.98 and a quick ratio of 0.59. The company has a market capitalization of $41.21 billion, a PE ratio of 31.44, a price-to-earnings-growth ratio of 2.84 and a beta of 1.22. AMETEK, Inc. has a 52 week low of $133.12 and a 52 week high of $186.32.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.06. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.73 billion. AMETEK had a return on equity of 17.96% and a net margin of 19.91%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.52 EPS. On average, equities research analysts predict that AMETEK, Inc. will post 6.82 EPS for the current fiscal year.

AMETEK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. This is a boost from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, March 7th. AMETEK’s dividend payout ratio is presently 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.