Citizens Financial Group Inc. RI Boosts Stock Position in AMETEK, Inc. (NYSE:AME)

Citizens Financial Group Inc. RI lifted its stake in AMETEK, Inc. (NYSE:AME) by 7.5% in the second quarter, Holdings Channel.com reports. The fund owned 3,182 shares of the technology company’s stock after purchasing an additional 221 shares during the period. Citizens Financial Group Inc. RI’s holdings in AMETEK were worth $530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Washington Trust Advisors Inc. purchased a new stake in AMETEK in the 1st quarter worth approximately $37,000. Family Firm Inc. purchased a new stake in shares of AMETEK in the second quarter worth $39,000. Industrial Alliance Investment Management Inc. bought a new stake in AMETEK during the second quarter valued at $42,000. Headlands Technologies LLC purchased a new position in AMETEK during the first quarter worth about $43,000. Finally, Crewe Advisors LLC increased its stake in AMETEK by 168.8% in the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock worth $49,000 after acquiring an additional 184 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AME. Robert W. Baird dropped their price target on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Truist Financial cut their price target on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Royal Bank of Canada dropped their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Finally, StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Four 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $186.29.

AMETEK Stock Performance

NYSE AME opened at $169.43 on Thursday. AMETEK, Inc. has a 12-month low of $136.89 and a 12-month high of $186.32. 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 has a 50-day simple moving average of $166.48 and a two-hundred day simple moving average of $171.45. The firm has a market cap of $39.22 billion, a price-to-earnings ratio of 29.78, a PEG 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 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.57 EPS. On average, equities analysts forecast that AMETEK, Inc. will post 6.77 EPS for the current year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders 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 annualized dividend and a yield of 0.66%. AMETEK’s payout ratio 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.