Sienna Gestion Buys 549 Shares of AMETEK, Inc. (NYSE:AME)

Sienna Gestion increased its stake in shares of AMETEK, Inc. (NYSE:AME) by 12.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,929 shares of the technology company’s stock after acquiring an additional 549 shares during the quarter. Sienna Gestion’s holdings in AMETEK were worth $821,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of AME. Vanguard Group Inc. boosted its holdings in shares of AMETEK by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 25,578,270 shares of the technology company’s stock worth $4,217,601,000 after acquiring an additional 84,832 shares during the period. JPMorgan Chase & Co. lifted 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 purchasing an additional 2,306,535 shares during the last quarter. Price T Rowe Associates Inc. MD boosted 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 valued at $1,195,478,000 after purchasing an additional 44,899 shares during the period. Capital International Investors grew 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 buying an additional 198,777 shares in the last quarter. Finally, Bank of New York Mellon Corp grew 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 buying an additional 926,657 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Wall Street Analyst Weigh In

AME has been the subject of a number of research reports. Royal Bank of Canada dropped their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. TD Cowen dropped their price objective on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a research note on Monday, August 5th. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Truist Financial dropped their price target 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. Finally, Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $186.29.

AMETEK Price Performance

AME stock opened at $169.43 on Thursday. The company’s 50-day moving average price is $166.48 and its two-hundred day moving average price is $171.45. The firm has a market cap of $39.22 billion, a P/E ratio of 29.78, a P/E/G 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. AMETEK, Inc. has a 12 month low of $136.89 and a 12 month high of $186.32.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period last year, the firm posted $1.57 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, analysts anticipate that AMETEK, Inc. will post 6.77 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend 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 currently 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.