AMETEK, Inc. (NYSE:AME) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its holdings in shares of AMETEK, Inc. (NYSE:AME) by 2.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,702 shares of the technology company’s stock after selling 1,082 shares during the quarter. Amalgamated Bank’s holdings in AMETEK were worth $7,786,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC boosted its stake in AMETEK by 24.9% during the 2nd quarter. Mutual of America Capital Management LLC now owns 37,812 shares of the technology company’s stock worth $6,304,000 after purchasing an additional 7,543 shares during the last quarter. Virtu Financial LLC boosted its stake in AMETEK by 72.5% during the 2nd quarter. Virtu Financial LLC now owns 31,347 shares of the technology company’s stock worth $5,226,000 after purchasing an additional 13,171 shares during the last quarter. Sargent Investment Group LLC acquired a new stake in AMETEK during the 2nd quarter worth $294,000. Renaissance Technologies LLC boosted its stake in AMETEK by 60.2% during the 2nd quarter. Renaissance Technologies LLC now owns 158,150 shares of the technology company’s stock worth $26,365,000 after purchasing an additional 59,400 shares during the last quarter. Finally, Citizens Financial Group Inc. RI boosted its stake in AMETEK by 7.5% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 3,182 shares of the technology company’s stock worth $530,000 after purchasing an additional 221 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Trading Up 1.7 %

NYSE AME opened at $172.30 on Friday. The firm’s 50-day moving average is $166.54 and its two-hundred day moving average is $171.46. AMETEK, Inc. has a 12 month low of $136.89 and a 12 month high of $186.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76. The stock has a market capitalization of $39.88 billion, a P/E ratio of 30.28, a PEG ratio of 2.71 and a beta of 1.17.

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

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid 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 presently 19.68%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Robert W. Baird lowered their target price on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada lowered their price target on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. TD Cowen lowered their price target on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Truist Financial lowered their price target on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Four equities research 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. Based on data from MarketBeat, the stock presently has a consensus 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.