Squarepoint Ops LLC Grows Stock Holdings in AMETEK, Inc. (NYSE:AME)

Squarepoint Ops LLC lifted its stake in shares of AMETEK, Inc. (NYSE:AME) by 41.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,744 shares of the technology company’s stock after acquiring an additional 7,270 shares during the quarter. Squarepoint Ops LLC’s holdings in AMETEK were worth $4,125,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AME. JPMorgan Chase & Co. increased its holdings in AMETEK by 48.4% during the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock worth $1,294,121,000 after purchasing an additional 2,306,535 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of AMETEK by 34.6% in the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after acquiring an additional 926,657 shares in the last quarter. Principal Financial Group Inc. lifted its stake in AMETEK by 256.3% in the second quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company’s stock worth $162,844,000 after acquiring an additional 702,674 shares during the period. Maren Capital LLC bought a new position in AMETEK during the 4th quarter worth about $64,284,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in AMETEK during the 1st quarter valued at about $46,343,000. Institutional investors own 87.43% of the company’s stock.

AMETEK Stock Performance

AME opened at $171.69 on Tuesday. The company has a market cap of $39.74 billion, a P/E ratio of 30.17, a price-to-earnings-growth ratio of 2.81 and a beta of 1.17. 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 firm’s 50-day moving average price is $166.41 and its 200-day moving average price is $170.84. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share (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 business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the business posted $1.57 EPS. AMETEK’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities analysts anticipate that AMETEK, Inc. will post 6.77 EPS for the current fiscal year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.28 per share. The ex-dividend date was Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. AMETEK’s dividend payout ratio is currently 19.68%.

Insider Buying and Selling at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares of the company’s stock, valued at $4,006,454.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AME. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada dropped their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Wolfe Research raised AMETEK to a “hold” rating in a research report on Wednesday, September 18th. Finally, Truist Financial cut their price objective 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. Five 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.