Mediolanum International Funds Ltd Reduces Position in AMETEK, Inc. (NYSE:AME)

Mediolanum International Funds Ltd lessened its holdings in shares of AMETEK, Inc. (NYSE:AME) by 0.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 118,455 shares of the technology company’s stock after selling 320 shares during the quarter. Mediolanum International Funds Ltd’s holdings in AMETEK were worth $20,349,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Czech National Bank boosted its position in shares of AMETEK by 8.6% during the second quarter. Czech National Bank now owns 44,108 shares of the technology company’s stock valued at $7,353,000 after buying an additional 3,499 shares during the period. Duality Advisers LP purchased a new position in shares of AMETEK during the first quarter valued at approximately $1,676,000. CWM LLC boosted its holdings in shares of AMETEK by 53.9% in the second quarter. CWM LLC now owns 10,594 shares of the technology company’s stock valued at $1,766,000 after purchasing an additional 3,711 shares during the period. American National Bank & Trust Co. VA purchased a new stake in shares of AMETEK in the first quarter valued at approximately $6,978,000. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of AMETEK by 3.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 258,677 shares of the technology company’s stock valued at $47,312,000 after purchasing an additional 8,189 shares during the period. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Price Performance

AME stock traded up $1.21 during mid-day trading on Friday, reaching $167.79. The company’s stock had a trading volume of 68,447 shares, compared to its average volume of 1,130,310. The stock has a market cap of $38.84 billion, a PE ratio of 29.38, a P/E/G ratio of 2.77 and a beta of 1.17. 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 fifty-two week low of $136.89 and a fifty-two week high of $186.32. The company’s 50 day moving average is $168.26 and its two-hundred day moving average is $169.35.

AMETEK (NYSE:AME) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. AMETEK’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.57 EPS. Equities research analysts expect that AMETEK, Inc. will post 6.76 EPS for the current year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. AMETEK’s payout ratio is currently 19.68%.

Insider Buying and Selling at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the transaction, the director now owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AME. Royal Bank of Canada lowered their price target on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Truist Financial boosted their price objective on shares of AMETEK from $201.00 to $219.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird dropped their price objective on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Mizuho boosted their price objective on shares of AMETEK from $180.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AMETEK currently has a consensus rating of “Moderate Buy” and an average target price of $193.29.

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.