AMETEK, Inc. (NYSE:AME) Shares Sold by Seven Eight Capital LP

Seven Eight Capital LP cut its holdings in AMETEK, Inc. (NYSE:AME) by 57.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,932 shares of the technology company’s stock after selling 2,586 shares during the quarter. Seven Eight Capital LP’s holdings in AMETEK were worth $322,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Hsbc Holdings PLC increased its position 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 buying an additional 15,599 shares in the last quarter. CCLA Investment Management boosted its stake in shares of AMETEK by 1.1% during the second quarter. CCLA Investment Management now owns 483,152 shares of the technology company’s stock valued at $80,395,000 after acquiring an additional 5,373 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in AMETEK by 12.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 21,878 shares of the technology company’s stock worth $3,603,000 after purchasing an additional 2,396 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in AMETEK by 24.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 37,812 shares of the technology company’s stock valued at $6,304,000 after purchasing an additional 7,543 shares during the last quarter. Finally, Virtu Financial LLC lifted its holdings in AMETEK by 72.5% in the 2nd quarter. Virtu Financial LLC now owns 31,347 shares of the technology company’s stock valued at $5,226,000 after purchasing an additional 13,171 shares in the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

AMETEK Stock Performance

Shares of NYSE:AME opened at $171.10 on Monday. The business has a 50-day moving average of $166.57 and a two-hundred day moving average of $171.27. The firm has a market capitalization of $39.60 billion, a PE ratio of 30.07, a P/E/G 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. AMETEK, Inc. has a 12 month low of $136.89 and a 12 month high of $186.32.

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

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors 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 yield of 0.65%. AMETEK’s dividend payout ratio (DPR) is 19.68%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AME. TD Cowen cut their price objective on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Robert W. Baird decreased their price objective on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Wolfe Research upgraded AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Finally, StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average 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.