Federated Hermes Inc. Acquires 95 Shares of AMETEK, Inc. (NYSE:AME)

Federated Hermes Inc. lifted its holdings in shares of AMETEK, Inc. (NYSE:AME) by 8.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,177 shares of the technology company’s stock after buying an additional 95 shares during the period. Federated Hermes Inc.’s holdings in AMETEK were worth $196,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AME. D.A. Davidson & CO. purchased a new stake in shares of AMETEK during the fourth quarter valued at $201,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of AMETEK by 238.4% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 14,537 shares of the technology company’s stock valued at $2,397,000 after buying an additional 10,241 shares during the last quarter. US Bancorp DE boosted its position in AMETEK by 41.9% in the fourth quarter. US Bancorp DE now owns 50,393 shares of the technology company’s stock worth $8,309,000 after purchasing an additional 14,882 shares during the last quarter. Orion Portfolio Solutions LLC boosted its position in AMETEK by 2.1% in the fourth quarter. Orion Portfolio Solutions LLC now owns 20,435 shares of the technology company’s stock worth $3,308,000 after purchasing an additional 413 shares during the last quarter. Finally, Advisory Services Network LLC boosted its position in AMETEK by 71.3% in the fourth quarter. Advisory Services Network LLC now owns 5,391 shares of the technology company’s stock worth $889,000 after purchasing an additional 2,244 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AME has been the topic of several research reports. TD Cowen dropped their target price on 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 AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Robert W. Baird lowered their price objective on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Wolfe Research raised AMETEK to a “hold” rating in a research report on Wednesday, September 18th. Finally, Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and an average price target of $186.29.

AMETEK Stock Down 0.3 %

Shares of AME opened at $170.54 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. AMETEK, Inc. has a 12-month low of $136.89 and a 12-month high of $186.32. The business’s 50 day moving average is $166.44 and its 200 day moving average is $171.12. The company has a market capitalization of $39.47 billion, a PE ratio of 29.97, a price-to-earnings-growth 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, topping analysts’ consensus estimates 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 company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.57 EPS. Research analysts expect that AMETEK, Inc. will post 6.77 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently announced 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. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Monday, September 16th. AMETEK’s dividend 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.