AMETEK, Inc. (NYSE:AME) Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its stake in AMETEK, Inc. (NYSE:AME) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,122 shares of the technology company’s stock after purchasing an additional 410 shares during the period. Pacer Advisors Inc.’s holdings in AMETEK were worth $6,522,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AME. JPMorgan Chase & Co. increased its holdings in AMETEK by 48.4% in 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 purchasing an additional 2,306,535 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of 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 valued at $600,615,000 after acquiring an additional 926,657 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of AMETEK by 256.3% during the second 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 in the last quarter. Maren Capital LLC acquired a new stake in shares of AMETEK during the fourth quarter valued at about $64,284,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of AMETEK during the first quarter valued at about $46,343,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AME shares. Truist Financial lowered their target price on AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Robert W. Baird lowered their target price on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Wolfe Research raised shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. Finally, Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Five 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $186.29.

AMETEK Stock Performance

Shares of NYSE AME opened at $171.09 on Tuesday. 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’s 50-day moving average price is $166.55 and its two-hundred day moving average price is $171.19. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32. The stock has a market capitalization 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.

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, topping 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 firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the company posted $1.57 earnings per share. AMETEK’s revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts forecast that AMETEK, Inc. will post 6.77 earnings per share for the current year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.28 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. AMETEK’s dividend payout ratio is currently 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.