Quantbot Technologies LP Cuts Stake in AMETEK, Inc. (NYSE:AME)

Quantbot Technologies LP decreased its stake in AMETEK, Inc. (NYSE:AME) by 67.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,033 shares of the technology company’s stock after selling 34,729 shares during the period. Quantbot Technologies LP’s holdings in AMETEK were worth $2,840,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Washington Trust Advisors Inc. purchased a new stake in AMETEK during the 1st quarter worth $37,000. Family Firm Inc. purchased a new stake in shares of AMETEK during the second quarter worth about $39,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of AMETEK in the second quarter worth about $42,000. Headlands Technologies LLC purchased a new position in AMETEK in the first quarter valued at about $43,000. Finally, Crewe Advisors LLC grew its stake in AMETEK by 168.8% during the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock valued at $49,000 after purchasing an additional 184 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Price Performance

AME opened at $168.57 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average price is $166.41 and its 200 day moving average price is $171.47. AMETEK, Inc. has a fifty-two week low of $136.89 and a fifty-two week high of $186.32. The firm has a market cap of $39.02 billion, a price-to-earnings ratio of 29.63, a price-to-earnings-growth ratio of 2.71 and a beta of 1.17.

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

AMETEK Announces Dividend

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

Wall Street Analyst Weigh In

AME has been the subject of several research analyst reports. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Royal Bank of Canada reduced their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note 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 for the company in a research report on Monday, August 5th. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Truist Financial lowered 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. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AMETEK currently has an average rating of “Moderate Buy” and an average target price of $186.29.

AMETEK Company 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.