AMETEK, Inc. (NYSE:AME) Stock Holdings Increased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in AMETEK, Inc. (NYSE:AME) by 60.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 158,150 shares of the technology company’s stock after buying an additional 59,400 shares during the quarter. Renaissance Technologies LLC owned approximately 0.07% of AMETEK worth $26,365,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AME. Washington Trust Advisors Inc. bought a new position in shares of AMETEK during the first quarter valued at approximately $37,000. Family Firm Inc. bought a new position in shares of AMETEK during the second quarter valued at approximately $39,000. Headlands Technologies LLC bought a new position in shares of AMETEK during the first quarter valued at approximately $43,000. Industrial Alliance Investment Management Inc. bought a new position in shares of AMETEK during the second quarter valued at approximately $42,000. Finally, Mendota Financial Group LLC bought a new position in shares of AMETEK during the first quarter valued at approximately $50,000. 87.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AME shares. 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 report on Wednesday, August 7th. Truist Financial decreased their price objective on AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. TD Cowen decreased their price objective on AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a report on Monday, August 5th. Finally, Royal Bank of Canada decreased their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $186.29.

AMETEK Stock Performance

AME opened at $172.30 on Friday. The company has a market capitalization of $39.88 billion, a price-to-earnings ratio of 30.28, a price-to-earnings-growth ratio of 2.71 and a beta of 1.17. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32. The business has a 50 day moving average price of $166.54 and a two-hundred day moving average price of $171.46.

AMETEK (NYSE:AME) last released its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the firm posted $1.57 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts predict that AMETEK, Inc. will post 6.77 EPS for the current fiscal year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.28 per share. 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 (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.