Quest Investment Management LLC Lowers Stock Holdings in AMETEK, Inc. (NYSE:AME)

Quest Investment Management LLC cut its holdings in AMETEK, Inc. (NYSE:AME) by 43.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,256 shares of the technology company’s stock after selling 40,507 shares during the quarter. Quest Investment Management LLC’s holdings in AMETEK were worth $8,712,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in AMETEK by 11.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,669,394 shares of the technology company’s stock worth $275,266,000 after acquiring an additional 167,602 shares in the last quarter. Cim LLC purchased a new stake in shares of AMETEK during the fourth quarter worth about $1,254,000. Nomura Holdings Inc. purchased a new stake in shares of AMETEK during the fourth quarter worth about $768,000. Duality Advisers LP acquired a new position in shares of AMETEK during the 1st quarter worth about $1,676,000. Finally, Czech National Bank lifted its stake in AMETEK by 8.6% in the 2nd quarter. Czech National Bank now owns 44,108 shares of the technology company’s stock valued at $7,353,000 after buying an additional 3,499 shares in the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Trading Down 0.7 %

Shares of AME stock opened at $171.10 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. AMETEK, Inc. has a twelve month low of $136.89 and a twelve month high of $186.32. The company’s 50-day moving average price is $166.57 and its 200-day moving average price is $171.33. The stock has a market cap of $39.60 billion, a price-to-earnings ratio of 30.07, a PEG 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 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 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 firm 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 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 will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.28 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.12 annualized dividend and a yield of 0.65%. AMETEK’s payout ratio is 19.68%.

Analyst Ratings Changes

A number of equities analysts have commented on AME shares. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Wolfe Research raised AMETEK to a “hold” rating in a research note on Wednesday. Royal Bank of Canada lowered their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. TD Cowen reduced 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, Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Five 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.