AMETEK, Inc. (NYSE:AME) Stock Position Reduced by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. decreased its stake in AMETEK, Inc. (NYSE:AME) by 12.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 460,119 shares of the technology company’s stock after selling 65,439 shares during the quarter. Mawer Investment Management Ltd. owned approximately 0.20% of AMETEK worth $76,706,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of AMETEK in the fourth quarter worth about $589,098,000. JPMorgan Chase & Co. boosted its position in AMETEK by 48.4% during the first 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 grew its holdings in AMETEK by 34.6% during 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 purchasing an additional 926,657 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of AMETEK by 256.3% in the second quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company’s stock valued at $162,844,000 after purchasing an additional 702,674 shares during the period. Finally, Maren Capital LLC acquired a new stake in shares of AMETEK in the fourth quarter worth $64,284,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Activity at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the sale, the director now directly owns 24,809 shares in the company, valued at $4,315,029.37. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AME has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their target price 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. Robert W. Baird dropped their price objective on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Finally, TD Cowen cut their price target on AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.29.

AMETEK Stock Up 0.4 %

Shares of NYSE AME opened at $164.33 on Tuesday. The firm’s 50-day moving average is $166.24 and its 200-day moving average is $171.98. The firm has a market capitalization of $38.05 billion, a PE ratio of 28.88, a price-to-earnings-growth ratio of 2.68 and a beta of 1.17. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32. 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 (NYSE:AME) last issued its quarterly 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. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.57 earnings per share. Equities analysts expect that AMETEK, Inc. will post 6.77 EPS for the current year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Monday, September 16th. AMETEK’s dividend payout ratio is presently 19.68%.

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.