Nippon Life Global Investors Americas Inc. Boosts Stock Holdings in AMETEK, Inc. (NYSE:AME)

Nippon Life Global Investors Americas Inc. lifted its stake in AMETEK, Inc. (NYSE:AME) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,850 shares of the technology company’s stock after buying an additional 280 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in AMETEK were worth $1,309,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of AME. Vanguard Group Inc. increased its stake in AMETEK by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 25,578,270 shares of the technology company’s stock worth $4,217,601,000 after purchasing an additional 84,832 shares during the period. JPMorgan Chase & Co. raised its holdings in AMETEK by 48.4% during the 1st 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 last quarter. Price T Rowe Associates Inc. MD raised its holdings in AMETEK by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company’s stock valued at $1,195,478,000 after buying an additional 44,899 shares during the last quarter. Capital International Investors boosted its position in AMETEK by 5.0% during the 4th quarter. Capital International Investors now owns 4,196,755 shares of the technology company’s stock valued at $692,051,000 after buying an additional 198,777 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings 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 acquiring an additional 926,657 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Price Performance

AME opened at $171.10 on Monday. 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 company has a market cap of $39.60 billion, a price-to-earnings ratio of 30.07, a price-to-earnings-growth ratio of 2.71 and a beta of 1.17. The stock has a fifty day simple moving average of $166.57 and a two-hundred day simple moving average of $171.27. AMETEK, Inc. has a 12-month low of $136.89 and a 12-month high of $186.32.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the business earned $1.57 EPS. AMETEK’s quarterly revenue was up 5.4% compared to the same quarter last year. Research analysts predict that AMETEK, Inc. will post 6.77 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.28 dividend. The ex-dividend date 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 is currently 19.68%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AME shares. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Robert W. Baird cut their price objective on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Truist Financial decreased their target price on AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a report on Friday, August 2nd. 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 report on Monday, August 5th. Finally, Royal Bank of Canada decreased their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Five 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. Based on data from MarketBeat.com, AMETEK has a consensus rating of “Moderate Buy” and a consensus target price 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.