Hsbc Holdings PLC Has $93.62 Million Stock Position in AMETEK, Inc. (NYSE:AME)

Hsbc Holdings PLC grew its holdings in shares of AMETEK, Inc. (NYSE:AME) by 2.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 561,250 shares of the technology company’s stock after purchasing an additional 15,599 shares during the period. Hsbc Holdings PLC’s holdings in AMETEK were worth $93,624,000 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. Washington Trust Advisors Inc. acquired a new position in shares of AMETEK during the 1st quarter worth approximately $37,000. Family Firm Inc. acquired a new position in shares of AMETEK during the 2nd quarter worth approximately $39,000. Headlands Technologies LLC acquired a new position in shares of AMETEK during the 1st quarter worth approximately $43,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of AMETEK during the 2nd quarter worth approximately $42,000. Finally, Mendota Financial Group LLC acquired a new position in shares of AMETEK during the 1st quarter worth approximately $50,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AME. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Oppenheimer upgraded shares of 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. Robert W. Baird reduced their price target 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. Truist Financial reduced their price target 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, TD Cowen reduced their price target on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.29.

AMETEK Price Performance

Shares of NYSE:AME opened at $169.43 on Thursday. The company has a market cap of $39.22 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 2.71 and a beta of 1.17. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76. The firm has a 50 day simple moving average of $166.48 and a 200 day simple moving average of $171.45. AMETEK, Inc. has a one year low of $136.89 and a one year high of $186.32.

AMETEK (NYSE:AME) last issued its quarterly earnings data 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 business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.57 EPS. Research analysts predict that AMETEK, Inc. will post 6.77 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given 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 dividend yield of 0.66%. AMETEK’s dividend payout ratio (DPR) is 19.68%.

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.