AMETEK, Inc. (NYSE:AME) Shares Purchased by Inspire Investing LLC

Inspire Investing LLC increased its stake in shares of AMETEK, Inc. (NYSE:AME) by 183.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,843 shares of the technology company’s stock after acquiring an additional 4,426 shares during the period. Inspire Investing LLC’s holdings in AMETEK were worth $1,141,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in AMETEK by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 25,578,270 shares of the technology company’s stock worth $4,217,601,000 after acquiring an additional 84,832 shares during the period. JPMorgan Chase & Co. grew its holdings in AMETEK by 48.4% during the first quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock worth $1,294,121,000 after acquiring an additional 2,306,535 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in AMETEK by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company’s stock worth $1,195,478,000 after acquiring an additional 44,899 shares during the period. Capital International Investors grew its holdings in AMETEK by 5.0% during the fourth quarter. Capital International Investors now owns 4,196,755 shares of the technology company’s stock worth $692,051,000 after acquiring an additional 198,777 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in AMETEK by 34.6% during the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock worth $600,615,000 after acquiring an additional 926,657 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Stock Performance

NYSE AME opened at $172.30 on Friday. The company has a market cap of $39.88 billion, a PE ratio of 30.28, a price-to-earnings-growth ratio of 2.71 and a beta of 1.17. The stock’s 50 day simple moving average is $166.54 and its 200-day simple moving average is $171.46. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76.

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

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. AMETEK’s dividend payout ratio is presently 19.68%.

Analyst Upgrades and Downgrades

AME has been the topic of several analyst reports. Royal Bank of Canada dropped their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Robert W. Baird lowered their price target on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. TD Cowen lowered their price target on AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Truist Financial lowered their price target on AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued 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 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.