MQS Management LLC Decreases Stock Holdings in AMETEK, Inc. (NYSE:AME)

MQS Management LLC cut its holdings in shares of AMETEK, Inc. (NYSE:AME) by 20.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,842 shares of the technology company’s stock after selling 959 shares during the quarter. MQS Management LLC’s holdings in AMETEK were worth $640,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its position in AMETEK by 48.4% in 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 acquiring an additional 2,306,535 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in AMETEK by 34.6% in 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 acquiring an additional 926,657 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of AMETEK by 256.3% in the second quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company’s stock worth $162,844,000 after acquiring an additional 702,674 shares during the last quarter. Maren Capital LLC purchased a new stake in AMETEK during the fourth quarter valued at about $64,284,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of AMETEK during the first quarter worth about $46,343,000. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Trading Up 0.5 %

NYSE AME opened at $169.43 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. AMETEK, Inc. has a twelve month low of $136.89 and a twelve month high of $186.32. The business’s fifty day moving average is $166.48 and its 200 day moving average is $171.45. The company has a market cap of $39.22 billion, a price-to-earnings ratio of 29.78, a price-to-earnings-growth ratio of 2.71 and a beta of 1.17.

AMETEK (NYSE:AME) last issued its quarterly earnings data 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 firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the business posted $1.57 earnings per share. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts expect that AMETEK, Inc. will post 6.77 EPS for the current fiscal year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.28 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. AMETEK’s payout ratio is 19.68%.

Analyst Upgrades and Downgrades

AME has been the topic of several research analyst reports. Oppenheimer upgraded AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research note on Wednesday, May 22nd. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. TD Cowen dropped their target price on AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Robert W. Baird dropped their price target on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Truist Financial cut their target price on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a research 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 given a strong buy rating to the stock. According to data from MarketBeat, AMETEK has a consensus rating of “Moderate Buy” and a consensus target price of $186.29.

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.