Sienna Gestion Has $821,000 Position in AMETEK, Inc. (NYSE:AME)

Sienna Gestion increased its holdings in shares of AMETEK, Inc. (NYSE:AME) by 12.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,929 shares of the technology company’s stock after purchasing an additional 549 shares during the period. Sienna Gestion’s holdings in AMETEK were worth $821,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of AMETEK by 48.4% in the first quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock valued at $1,294,121,000 after buying an additional 2,306,535 shares during the period. Bank of New York Mellon Corp boosted its stake in AMETEK by 34.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock worth $600,615,000 after purchasing an additional 926,657 shares during the period. Principal Financial Group Inc. increased its holdings in AMETEK by 256.3% during the 2nd quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company’s stock worth $162,844,000 after purchasing an additional 702,674 shares in the last quarter. Maren Capital LLC acquired a new stake in shares of AMETEK in the 4th quarter valued at about $64,284,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of AMETEK in the first quarter valued at about $46,343,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Stock Performance

NYSE AME opened at $169.43 on Thursday. The firm has a market capitalization of $39.22 billion, a P/E ratio of 29.78, a price-to-earnings-growth 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. The firm’s fifty day moving average price is $166.48 and its two-hundred day moving average price is $171.45. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the firm earned $1.57 EPS. AMETEK’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, research analysts anticipate that AMETEK, Inc. will post 6.77 EPS for the current year.

AMETEK Announces Dividend

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

Wall Street Analyst Weigh In

AME has been the subject of a number of research reports. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Truist Financial lowered their price objective on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. TD Cowen reduced their target price on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a report on Monday, August 5th. Royal Bank of Canada lowered their price target 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 upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a research note on Wednesday, May 22nd. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.29.

AMETEK Company 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.