AQR Capital Management LLC Sells 4,977 Shares of AMETEK, Inc. (NYSE:AME)

AQR Capital Management LLC cut its position in shares of AMETEK, Inc. (NYSE:AME) by 6.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,750 shares of the technology company’s stock after selling 4,977 shares during the period. AQR Capital Management LLC’s holdings in AMETEK were worth $11,795,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Washington Trust Advisors Inc. acquired a new position in shares of AMETEK in the 1st quarter valued at $37,000. Family Firm Inc. acquired a new position in shares of AMETEK in the 2nd quarter worth approximately $39,000. Industrial Alliance Investment Management Inc. bought a new position in shares of AMETEK during the 2nd quarter worth approximately $42,000. Headlands Technologies LLC bought a new stake in AMETEK in the first quarter valued at $43,000. Finally, Crewe Advisors LLC raised its stake in AMETEK by 168.8% during the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock worth $49,000 after acquiring an additional 184 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

AMETEK Stock Down 1.5 %

Shares of AME opened at $169.10 on Wednesday. The business’s fifty day moving average price is $166.35 and its two-hundred day moving average price is $170.76. The firm has a market capitalization of $39.14 billion, a price-to-earnings ratio of 29.72, a PEG ratio of 2.81 and a beta of 1.17. AMETEK, Inc. has a 52 week low of $136.89 and a 52 week high of $186.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26.

AMETEK (NYSE:AME) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.57 earnings per share. On average, analysts predict that AMETEK, Inc. will post 6.77 earnings per share for the current year.

AMETEK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.28 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.12 annualized dividend and a yield of 0.66%. AMETEK’s dividend payout ratio is currently 19.68%.

Analysts Set New Price Targets

Several research firms have recently weighed in on AME. Truist Financial lowered their target price on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Royal Bank of Canada dropped 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. 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. Wolfe Research raised AMETEK to a “hold” rating in a report on Wednesday, September 18th. Finally, StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $186.29.

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.