AMETEK, Inc. (NYSE:AME) Stock Position Raised by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its position in shares of AMETEK, Inc. (NYSE:AME) by 4.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,910 shares of the technology company’s stock after purchasing an additional 496 shares during the period. QRG Capital Management Inc.’s holdings in AMETEK were worth $1,995,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in AME. Headlands Technologies LLC purchased a new stake in shares of AMETEK in the first quarter worth approximately $43,000. Meeder Advisory Services Inc. increased its stake in AMETEK by 6.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 5,438 shares of the technology company’s stock valued at $995,000 after buying an additional 308 shares during the period. Sei Investments Co. lifted its position in AMETEK by 133.3% in the 1st quarter. Sei Investments Co. now owns 394,881 shares of the technology company’s stock worth $72,223,000 after buying an additional 225,600 shares in the last quarter. Montag A & Associates Inc. boosted its stake in shares of AMETEK by 5.8% during the 1st quarter. Montag A & Associates Inc. now owns 50,938 shares of the technology company’s stock valued at $9,317,000 after buying an additional 2,771 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of AMETEK during the 1st quarter valued at $9,103,000. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Price Performance

NYSE AME traded up $0.04 on Wednesday, reaching $176.05. The company’s stock had a trading volume of 301,302 shares, compared to its average volume of 1,056,338. AMETEK, Inc. has a 52 week low of $136.89 and a 52 week high of $186.32. The company has a current ratio of 1.11, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. The firm has a market cap of $40.75 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 2.76 and a beta of 1.18. The business has a 50-day moving average price of $169.14 and a 200 day moving average price of $172.05.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.05. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the company posted $1.49 EPS. The company’s revenue was up 9.0% compared to the same quarter last year. Sell-side analysts expect that AMETEK, Inc. will post 6.81 EPS for the current year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.64%. AMETEK’s payout ratio is presently 19.68%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AME shares. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Robert W. Baird lowered their price objective on AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Oppenheimer upgraded AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a report on Wednesday, May 22nd. Finally, Truist Financial lowered their price target on AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $181.20.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,470 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total transaction of $250,194.00. Following the completion of the sale, the director now owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Steven W. Kohlhagen sold 1,470 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the completion of the sale, the director now directly owns 26,249 shares in the company, valued at $4,467,579.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the completion of the transaction, the director now directly owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

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.