Vanguard Personalized Indexing Management LLC Has $3.60 Million Stock Position in AMETEK, Inc. (NYSE:AME)

Vanguard Personalized Indexing Management LLC lifted its holdings in AMETEK, Inc. (NYSE:AME) by 12.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,878 shares of the technology company’s stock after acquiring an additional 2,396 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in AMETEK were worth $3,603,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of AME. JPMorgan Chase & Co. grew its position in shares of AMETEK by 48.4% during the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock worth $1,294,121,000 after purchasing an additional 2,306,535 shares in the last quarter. Bank of New York Mellon Corp increased its stake in AMETEK by 34.6% during 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 acquiring an additional 926,657 shares during the period. Principal Financial Group Inc. lifted its position in shares of AMETEK by 256.3% during the 2nd quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company’s stock valued at $162,844,000 after acquiring an additional 702,674 shares during the period. Maren Capital LLC bought a new stake in shares of AMETEK during the 4th quarter valued at $64,284,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of AMETEK during the 1st quarter worth $46,343,000. 87.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada cut their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Robert W. Baird reduced their price target on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. TD Cowen reduced their target price on AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Finally, Truist Financial lowered their price target on AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $186.29.

AMETEK Trading Up 1.7 %

Shares of AME stock opened at $172.30 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $39.88 billion, a P/E ratio of 30.28, a P/E/G ratio of 2.71 and a beta of 1.17. AMETEK, Inc. has a twelve month low of $136.89 and a twelve month high of $186.32. The stock’s fifty day simple moving average is $166.54 and its 200 day simple moving average is $171.46.

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

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. AMETEK’s dividend payout ratio (DPR) is presently 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.