Allspring Global Investments Holdings LLC Has $26.01 Million Position in AMETEK, Inc. (NYSE:AME)

Allspring Global Investments Holdings LLC lowered its holdings in AMETEK, Inc. (NYSE:AME) by 1.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 156,043 shares of the technology company’s stock after selling 2,475 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in AMETEK were worth $26,014,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Washington Trust Advisors Inc. purchased a new position in AMETEK during the 1st quarter worth $37,000. Family Firm Inc. purchased a new position in AMETEK during the 2nd quarter worth $39,000. Headlands Technologies LLC bought a new stake in shares of AMETEK during the 1st quarter worth $43,000. Mendota Financial Group LLC bought a new stake in shares of AMETEK during the 1st quarter worth $50,000. Finally, First Command Advisory Services Inc. bought a new stake in shares of AMETEK during the 2nd quarter worth $50,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,440 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the transaction, the director now owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.61% of the company’s stock.

AMETEK Trading Down 0.2 %

Shares of AME opened at $167.98 on Wednesday. The business’s 50-day moving average price is $166.43 and its 200-day moving average price is $172.35. AMETEK, Inc. has a twelve month low of $136.89 and a twelve month high of $186.32. The stock has a market cap of $38.88 billion, a PE ratio of 29.52, a P/E/G ratio of 2.57 and a beta of 1.18. The company has a quick ratio of 0.66, a current ratio of 1.26 and a debt-to-equity ratio of 0.20.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.02. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the business posted $1.57 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. On average, equities analysts forecast that AMETEK, Inc. will post 6.78 EPS for the current fiscal year.

AMETEK Announces Dividend

The business also recently declared 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 0.67%. The ex-dividend date of this dividend is Monday, September 16th. AMETEK’s dividend payout ratio is presently 19.68%.

Analysts Set New Price Targets

A number of research firms have recently commented on AME. Robert W. Baird lowered their target price on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Truist Financial lowered their target price on AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Royal Bank of Canada lowered their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, TD Cowen lowered their price objective on AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a research note 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.com, AMETEK has a consensus rating of “Moderate Buy” and an average target price of $186.29.

AMETEK Company 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.