AMETEK, Inc. (NYSE:AME) is Gabelli Funds LLC’s 6th Largest Position

Gabelli Funds LLC reduced its position in shares of AMETEK, Inc. (NYSE:AME) by 0.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,017,184 shares of the technology company’s stock after selling 5,000 shares during the quarter. AMETEK makes up about 1.3% of Gabelli Funds LLC’s holdings, making the stock its 6th biggest holding. Gabelli Funds LLC’s holdings in AMETEK were worth $169,575,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AME. Washington Trust Advisors Inc. bought a new stake in AMETEK in the first quarter valued at $37,000. Family Firm Inc. bought a new stake in shares of AMETEK during the 2nd quarter valued at about $39,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of AMETEK during the second quarter valued at about $42,000. Headlands Technologies LLC bought a new position in AMETEK in the first quarter worth about $43,000. Finally, Crewe Advisors LLC lifted its holdings in AMETEK by 168.8% in the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock worth $49,000 after buying an additional 184 shares during the period. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on AME shares. Robert W. Baird reduced their target price on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Truist Financial decreased their price objective on AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a report on Friday, August 2nd. TD Cowen dropped their target price on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Royal Bank of Canada decreased their price target on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Five 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $186.29.

AMETEK Trading Down 0.7 %

Shares of NYSE AME opened at $171.10 on Friday. The firm’s 50 day moving average price is $166.57 and its 200-day moving average price is $171.33. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26. The company has a market cap of $39.60 billion, a PE ratio of 30.07, a P/E/G ratio of 2.71 and a beta of 1.17.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the firm posted $1.57 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities research analysts expect that AMETEK, Inc. will post 6.77 EPS for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Monday, September 16th. AMETEK’s dividend payout ratio (DPR) is 19.68%.

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.