Sei Investments Co. Acquires 30,238 Shares of AMETEK, Inc. (NYSE:AME)

Sei Investments Co. grew its stake in AMETEK, Inc. (NYSE:AME) by 7.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 425,119 shares of the technology company’s stock after acquiring an additional 30,238 shares during the period. Sei Investments Co. owned 0.18% of AMETEK worth $70,871,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its position in shares of AMETEK by 7.3% during the first quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company’s stock worth $157,000 after acquiring an additional 61 shares during the last quarter. MorganRosel Wealth Management LLC lifted its position in AMETEK by 1.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company’s stock valued at $648,000 after purchasing an additional 61 shares during the period. Commerzbank Aktiengesellschaft FI lifted its position in AMETEK by 4.8% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock valued at $224,000 after purchasing an additional 61 shares during the period. First Horizon Advisors Inc. grew its position in shares of AMETEK by 2.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock worth $440,000 after buying an additional 62 shares during the period. Finally, Checchi Capital Advisers LLC lifted its holdings in AMETEK by 2.9% in the second quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock valued at $371,000 after buying an additional 63 shares during the period. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. TD Cowen cut their price target on shares of 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 objective on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Wolfe Research raised AMETEK to a “hold” rating in a research report on Wednesday. Finally, Robert W. Baird dropped their price objective on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AMETEK has a consensus rating of “Moderate Buy” and an average target price of $186.29.

AMETEK Trading Down 0.7 %

Shares of AMETEK stock opened at $171.10 on Friday. The stock has a market cap of $39.60 billion, a P/E ratio of 30.07, a P/E/G ratio of 2.71 and a beta of 1.17. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. AMETEK, Inc. has a 12-month low of $136.89 and a 12-month high of $186.32. The business’s 50 day moving average is $166.57 and its 200-day moving average is $171.33.

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 the consensus estimate of $1.64 by $0.02. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. AMETEK’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the business posted $1.57 EPS. Equities research analysts predict that AMETEK, Inc. will post 6.77 earnings per share for the current fiscal 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 paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Monday, September 16th. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

About AMETEK

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.