AMETEK, Inc. (NYSE:AME) Position Cut by Tredje AP fonden

Tredje AP fonden lowered its holdings in shares of AMETEK, Inc. (NYSE:AME) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,287 shares of the technology company’s stock after selling 567 shares during the period. Tredje AP fonden’s holdings in AMETEK were worth $6,049,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Washington Trust Advisors Inc. acquired a new stake in AMETEK in the first quarter worth about $37,000. Family Firm Inc. acquired a new stake in shares of AMETEK in the 2nd quarter worth approximately $39,000. Headlands Technologies LLC bought a new position in shares of AMETEK in the first quarter valued at approximately $43,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of AMETEK during the second quarter valued at approximately $42,000. Finally, Mendota Financial Group LLC bought a new stake in AMETEK during the first quarter worth approximately $50,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

Analyst Upgrades and Downgrades

AME has been the subject of a number of research reports. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Truist Financial lowered their target price on AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Royal Bank of Canada lowered their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Oppenheimer raised shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a research note on Wednesday, May 22nd. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AMETEK currently has an average rating of “Moderate Buy” and a consensus price target of $186.29.

AMETEK Price Performance

NYSE AME opened at $169.43 on Thursday. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32. The stock’s 50-day moving average price is $166.48 and its two-hundred day moving average price is $171.45. The company has a market cap of $39.22 billion, a PE ratio of 29.78, a PEG ratio of 2.71 and a beta of 1.17. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the firm earned $1.57 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. On average, analysts predict that AMETEK, Inc. will post 6.77 EPS for the current year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date is Monday, September 16th. AMETEK’s payout ratio is 19.68%.

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.