AMETEK, Inc. (NYSE:AME) is Gabelli Funds LLC’s 6th Largest Position

Gabelli Funds LLC lowered its stake in shares of AMETEK, Inc. (NYSE:AME) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,017,184 shares of the technology company’s stock after selling 5,000 shares during the quarter. AMETEK makes up approximately 1.3% of Gabelli Funds LLC’s portfolio, making the stock its 6th largest holding. Gabelli Funds LLC owned about 0.44% of AMETEK worth $169,575,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Fidelis Capital Partners LLC raised its stake in shares of AMETEK by 12.5% in the second quarter. Fidelis Capital Partners LLC now owns 1,629 shares of the technology company’s stock valued at $255,000 after buying an additional 181 shares during the period. Epoch Investment Partners Inc. lifted its holdings in AMETEK by 20.2% during the second quarter. Epoch Investment Partners Inc. now owns 228,973 shares of the technology company’s stock valued at $38,172,000 after purchasing an additional 38,503 shares during the last quarter. 1832 Asset Management L.P. boosted its position in AMETEK by 23.0% during the second quarter. 1832 Asset Management L.P. now owns 18,539 shares of the technology company’s stock worth $3,091,000 after purchasing an additional 3,468 shares during the period. Frank Rimerman Advisors LLC increased its stake in shares of AMETEK by 8,009.7% in the second quarter. Frank Rimerman Advisors LLC now owns 2,514 shares of the technology company’s stock worth $419,000 after purchasing an additional 2,483 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in shares of AMETEK by 7.8% in the second quarter. ProShare Advisors LLC now owns 40,873 shares of the technology company’s stock valued at $6,814,000 after purchasing an additional 2,961 shares during the period. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Analyst Upgrades and Downgrades

AME has been the subject of a number of recent research reports. TD Cowen reduced their price objective on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Robert W. Baird decreased their price objective on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada cut their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Truist Financial lowered their price target 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. Finally, Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, AMETEK currently has an average rating of “Moderate Buy” and a consensus target price of $186.29.

AMETEK Stock Performance

NYSE AME opened at $171.10 on Friday. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32. The company has a fifty day moving average of $166.57 and a 200-day moving average of $171.33. The company 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. 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 announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.64 by $0.02. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.57 EPS. As a group, equities research analysts predict that AMETEK, Inc. will post 6.77 EPS for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.65%. The ex-dividend date is Monday, September 16th. AMETEK’s dividend payout ratio is presently 19.68%.

About AMETEK

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.