AMETEK, Inc. (NYSE:AME) Shares Purchased by Inspire Investing LLC

Inspire Investing LLC lifted its stake in AMETEK, Inc. (NYSE:AME) by 183.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,843 shares of the technology company’s stock after purchasing an additional 4,426 shares during the quarter. Inspire Investing LLC’s holdings in AMETEK were worth $1,141,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in shares of AMETEK in the second quarter valued at approximately $1,958,000. Sienna Gestion increased its stake in AMETEK by 12.5% during the second quarter. Sienna Gestion now owns 4,929 shares of the technology company’s stock worth $821,000 after acquiring an additional 549 shares during the last quarter. Hsbc Holdings PLC increased its stake in AMETEK by 2.9% during the second quarter. Hsbc Holdings PLC now owns 561,250 shares of the technology company’s stock worth $93,624,000 after acquiring an additional 15,599 shares during the last quarter. CCLA Investment Management increased its stake in AMETEK by 1.1% during the second quarter. CCLA Investment Management now owns 483,152 shares of the technology company’s stock worth $80,395,000 after acquiring an additional 5,373 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in AMETEK by 12.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 21,878 shares of the technology company’s stock worth $3,603,000 after acquiring an additional 2,396 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on AME. Royal Bank of Canada cut their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Robert W. Baird cut their target price on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Truist Financial cut their target price on AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $186.29.

AMETEK Trading Up 1.7 %

Shares of NYSE AME opened at $172.30 on Friday. AMETEK, Inc. has a twelve month low of $136.89 and a twelve month high of $186.32. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $166.54 and a 200-day simple moving average of $171.46. The stock has a market capitalization of $39.88 billion, a PE ratio of 30.28, a PEG ratio of 2.71 and a beta of 1.17.

AMETEK (NYSE:AME) last released its earnings results 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. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. AMETEK’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $1.57 earnings per share. On average, equities analysts forecast that AMETEK, Inc. will post 6.77 earnings per share for the current year.

AMETEK Dividend Announcement

The business also recently announced 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. The ex-dividend date is Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. AMETEK’s dividend payout ratio (DPR) is presently 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.