Ballentine Partners LLC Buys 71 Shares of AMETEK, Inc. (NYSE:AME)

Ballentine Partners LLC raised its stake in AMETEK, Inc. (NYSE:AME) by 1.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,875 shares of the technology company’s stock after purchasing an additional 71 shares during the quarter. Ballentine Partners LLC’s holdings in AMETEK were worth $646,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of AMETEK in the fourth quarter valued at about $589,098,000. JPMorgan Chase & Co. increased its holdings in AMETEK by 48.4% during the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock valued at $1,294,121,000 after purchasing an additional 2,306,535 shares during the period. Bank of New York Mellon Corp raised its position in AMETEK by 34.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after purchasing an additional 926,657 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in AMETEK by 256.3% in the 2nd quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company’s stock worth $162,844,000 after buying an additional 702,674 shares during the period. Finally, Maren Capital LLC bought a new stake in shares of AMETEK in the 4th quarter worth approximately $64,284,000. Institutional investors own 87.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AME shares. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Oppenheimer raised shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a research note on Wednesday, May 22nd. Truist Financial decreased their price target on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Royal Bank of Canada cut their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Robert W. Baird decreased their target price on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Four 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $186.29.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the sale, the director now owns 24,809 shares in the company, valued at $4,315,029.37. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.61% of the stock is owned by company insiders.

AMETEK Stock Performance

Shares of AME opened at $164.33 on Tuesday. 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 stock has a market cap of $38.05 billion, a P/E ratio of 28.88, a P/E/G ratio of 2.68 and a beta of 1.17. The business’s 50 day moving average price is $166.24 and its 200-day moving average price is $171.98. AMETEK, Inc. has a 52 week low of $136.89 and a 52 week high of $186.32.

AMETEK (NYSE:AME) last released its earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, topping 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 business 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 company posted $1.57 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that AMETEK, Inc. will post 6.77 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders 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 yield of 0.68%. AMETEK’s dividend payout ratio is currently 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.