AMETEK, Inc. (NYSE:AME) Shares Acquired by Prudential PLC

Prudential PLC raised its stake in shares of AMETEK, Inc. (NYSE:AME) by 37.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,062 shares of the technology company’s stock after purchasing an additional 837 shares during the period. Prudential PLC’s holdings in AMETEK were worth $510,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of AMETEK in the 4th quarter worth about $589,098,000. JPMorgan Chase & Co. lifted its position in AMETEK by 48.4% during the first quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock valued at $1,294,121,000 after buying an additional 2,306,535 shares in the last quarter. Bank of New York Mellon Corp grew its stake in AMETEK by 34.6% during the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock worth $600,615,000 after buying an additional 926,657 shares during the period. Principal Financial Group Inc. grew its stake in AMETEK by 256.3% during the second 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 acquired a new stake in shares of AMETEK in the fourth quarter worth $64,284,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Stock Performance

Shares of AME opened at $167.51 on Friday. The firm has a market cap of $38.79 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 2.71 and a beta of 1.17. 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 business’s 50 day moving average is $166.25 and its two-hundred day moving average is $171.73. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share (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 analysts’ expectations of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.57 earnings per share. Analysts forecast that AMETEK, Inc. will post 6.77 EPS for the current fiscal year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Monday, September 16th. AMETEK’s dividend payout ratio is currently 19.68%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AME. Royal Bank of Canada decreased their price target on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. TD Cowen lowered their target price on AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Oppenheimer raised AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a research report on Wednesday, May 22nd. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, 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 research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AMETEK has a consensus rating of “Moderate Buy” and an average price target of $186.29.

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.