Two Sigma Investments LP Grows Stake in AMETEK, Inc. (NYSE:AME)

Two Sigma Investments LP increased its position in shares of AMETEK, Inc. (NYSE:AME) by 43.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 144,936 shares of the technology company’s stock after purchasing an additional 43,999 shares during the quarter. Two Sigma Investments LP owned 0.06% of AMETEK worth $9,812,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Mackay Shields LLC bought a new stake in AMETEK in the fourth quarter valued at $2,870,000. Achmea Investment Management B.V. grew its holdings in AMETEK by 43.3% during the fourth quarter. Achmea Investment Management B.V. now owns 54,173 shares of the technology company’s stock worth $3,668,000 after acquiring an additional 16,365 shares during the period. American International Group Inc. grew its holdings in AMETEK by 17.7% during the fourth quarter. American International Group Inc. now owns 100,895 shares of the technology company’s stock worth $6,831,000 after acquiring an additional 15,197 shares during the period. Geode Capital Management LLC grew its holdings in AMETEK by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 2,966,822 shares of the technology company’s stock worth $200,498,000 after acquiring an additional 162,203 shares during the period. Finally, Fort L.P. grew its holdings in AMETEK by 85.5% during the fourth quarter. Fort L.P. now owns 22,224 shares of the technology company’s stock worth $1,505,000 after acquiring an additional 10,243 shares during the period. Hedge funds and other institutional investors own 85.88% of the company’s stock.

A number of equities analysts recently weighed in on the company. Zacks Investment Research raised AMETEK from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research note on Friday, February 8th. DA Davidson lifted their price target on AMETEK to $92.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. BMO Capital Markets reissued a “buy” rating and issued a $90.00 price target on shares of AMETEK in a research note on Tuesday, January 29th. Royal Bank of Canada reissued a “buy” rating and issued a $82.00 price target on shares of AMETEK in a research note on Wednesday, December 19th. Finally, Stephens reissued a “buy” rating and issued a $79.00 price target on shares of AMETEK in a research note on Sunday, January 6th. Twelve analysts have rated the stock with a buy rating, AMETEK has a consensus rating of “Buy” and an average price target of $86.80.

AME traded down $0.19 during trading on Monday, reaching $85.62. The company had a trading volume of 614,700 shares, compared to its average volume of 1,262,919. The company has a current ratio of 1.46, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. AMETEK, Inc. has a 12-month low of $63.14 and a 12-month high of $86.21. The stock has a market capitalization of $19.60 billion, a P/E ratio of 26.02, a P/E/G ratio of 2.19 and a beta of 1.21.

AMETEK (NYSE:AME) last released its earnings results on Tuesday, February 5th. The technology company reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.02. AMETEK had a return on equity of 17.72% and a net margin of 16.05%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the business posted $0.70 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, research analysts predict that AMETEK, Inc. will post 4.04 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.56 annualized dividend and a yield of 0.65%. AMETEK’s dividend payout ratio (DPR) is presently 17.02%.

AMETEK announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 13th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to repurchase up to 2.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

In other AMETEK news, insider Timothy N. Jones sold 5,000 shares of AMETEK stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $82.20, for a total transaction of $411,000.00. Following the transaction, the insider now owns 37,177 shares of the company’s stock, valued at approximately $3,055,949.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David A. Zapico sold 31,200 shares of AMETEK stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $78.80, for a total value of $2,458,560.00. Following the transaction, the chief executive officer now directly owns 223,085 shares in the company, valued at approximately $17,579,098. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 111,563 shares of company stock worth $8,880,480. Company insiders own 0.80% of the company’s stock.

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AMETEK Company Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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