Forsta AP Fonden Sells 3,000 Shares of AMETEK, Inc. (NYSE:AME)

Forsta AP Fonden lowered its stake in AMETEK, Inc. (NYSE:AME) by 6.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,200 shares of the technology company’s stock after selling 3,000 shares during the quarter. Forsta AP Fonden’s holdings in AMETEK were worth $7,202,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in AME. Vanguard Group Inc. lifted its holdings in shares of AMETEK by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 25,578,270 shares of the technology company’s stock worth $4,217,601,000 after buying an additional 84,832 shares in the last quarter. 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 worth $1,294,121,000 after acquiring an additional 2,306,535 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in AMETEK by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company’s stock worth $1,195,478,000 after purchasing an additional 44,899 shares in the last quarter. Capital International Investors boosted its holdings in AMETEK by 5.0% in the 4th quarter. Capital International Investors now owns 4,196,755 shares of the technology company’s stock valued at $692,051,000 after purchasing an additional 198,777 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Stock Performance

NYSE:AME opened at $167.51 on Friday. The company has a market capitalization 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 business has a 50 day moving average of $166.25 and a 200 day moving average of $171.73. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year 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, beating the consensus estimate of $1.64 by $0.02. The company 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 firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.57 EPS. On average, sell-side analysts predict that AMETEK, Inc. will post 6.77 earnings per share for the current fiscal year.

AMETEK Announces Dividend

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

Analyst Upgrades and Downgrades

AME has been the topic of a number of recent analyst reports. Royal Bank of Canada lowered 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. Robert W. Baird lowered their price target on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Truist Financial decreased their price objective on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a research report on Wednesday, May 22nd. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.