Elo Mutual Pension Insurance Co Sells 1,280 Shares of AMETEK, Inc. (NYSE:AME)

Elo Mutual Pension Insurance Co decreased its stake in shares of AMETEK, Inc. (NYSE:AME) by 6.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,809 shares of the technology company’s stock after selling 1,280 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in AMETEK were worth $3,302,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AME. Vanguard Personalized Indexing Management LLC boosted its stake in AMETEK by 12.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 21,878 shares of the technology company’s stock worth $3,603,000 after purchasing an additional 2,396 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in AMETEK by 24.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 37,812 shares of the technology company’s stock valued at $6,304,000 after acquiring an additional 7,543 shares in the last quarter. Virtu Financial LLC increased its holdings in shares of AMETEK by 72.5% in the 2nd quarter. Virtu Financial LLC now owns 31,347 shares of the technology company’s stock worth $5,226,000 after purchasing an additional 13,171 shares in the last quarter. Sargent Investment Group LLC purchased a new position in shares of AMETEK in the second quarter worth $294,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of AMETEK by 60.2% during the second quarter. Renaissance Technologies LLC now owns 158,150 shares of the technology company’s stock valued at $26,365,000 after purchasing an additional 59,400 shares in the last quarter. 87.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Robert W. Baird reduced their price objective on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada lowered their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. TD Cowen cut their target price on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Finally, StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $186.29.

AMETEK Stock Up 1.7 %

AME opened at $172.30 on Friday. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32. The firm’s 50 day simple moving average is $166.54 and its two-hundred day simple moving average is $171.46. 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 capitalization of $39.88 billion, a PE ratio of 30.28, a PEG ratio of 2.71 and a beta of 1.17.

AMETEK (NYSE:AME) last released its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.02. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the business earned $1.57 earnings per share. AMETEK’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts forecast that AMETEK, Inc. will post 6.77 EPS for the current year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid 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 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.