Rhumbline Advisers Lowers Holdings in AMETEK, Inc. (NYSE:AME)

Rhumbline Advisers cut its position in AMETEK, Inc. (NYSE:AME) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 498,904 shares of the technology company’s stock after selling 5,330 shares during the quarter. Rhumbline Advisers’ holdings in AMETEK were worth $83,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake 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 purchasing an additional 167,602 shares in the last quarter. Cim LLC bought a new position in shares of AMETEK in the 4th quarter worth $1,254,000. Nomura Holdings Inc. bought a new position in shares of AMETEK in the 4th quarter worth $768,000. Duality Advisers LP bought a new position in shares of AMETEK in the 1st quarter worth $1,676,000. Finally, Czech National Bank increased its holdings in shares of AMETEK by 8.6% in the 2nd quarter. Czech National Bank now owns 44,108 shares of the technology company’s stock worth $7,353,000 after buying an additional 3,499 shares during the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the sale, the director now owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.61% of the company’s stock.

AMETEK Price Performance

Shares of AMETEK stock opened at $166.69 on Wednesday. The firm has a market cap of $38.60 billion, a PE ratio of 29.30, a price-to-earnings-growth ratio of 2.81 and a beta of 1.18. AMETEK, Inc. has a 12-month low of $136.89 and a 12-month high of $186.32. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The company’s fifty day simple moving average is $166.34 and its two-hundred day simple moving average is $172.27.

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

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Monday, September 16th. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AME shares. Truist Financial decreased 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. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Robert W. Baird reduced their target price on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. TD Cowen reduced their target price on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Finally, Royal Bank of Canada reduced their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $186.29.

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.