Panagora Asset Management Inc. Sells 4,266 Shares of AMETEK, Inc. (NYSE:AME)

Panagora Asset Management Inc. lowered its stake in shares of AMETEK, Inc. (NYSE:AME) by 2.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 144,874 shares of the technology company’s stock after selling 4,266 shares during the period. Panagora Asset Management Inc.’s holdings in AMETEK were worth $24,152,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in AMETEK by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 25,578,270 shares of the technology company’s stock worth $4,217,601,000 after purchasing an additional 84,832 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of AMETEK by 48.4% in the first quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock worth $1,294,121,000 after buying an additional 2,306,535 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of AMETEK by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company’s stock worth $1,195,478,000 after buying an additional 44,899 shares in the last quarter. Capital International Investors lifted its holdings in shares of AMETEK by 5.0% in the fourth quarter. Capital International Investors now owns 4,196,755 shares of the technology company’s stock worth $692,051,000 after buying an additional 198,777 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted 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 worth $600,615,000 after buying an additional 926,657 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

Insider Buying and Selling at AMETEK

In other AMETEK 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 sale, the director now directly owns 24,809 shares in the company, valued at approximately $4,315,029.37. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.61% of the company’s stock.

AMETEK Stock Up 1.0 %

Shares of AME traded up $1.67 during trading hours on Friday, hitting $171.05. The company had a trading volume of 1,231,379 shares, compared to its average volume of 1,119,677. The firm has a fifty day moving average price of $166.32 and a 200-day moving average price of $172.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.66 and a current ratio of 1.26. The stock has a market capitalization of $39.59 billion, a price-to-earnings ratio of 29.83, a P/E/G ratio of 2.57 and a beta of 1.18. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32.

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

AMETEK Dividend Announcement

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

Analyst Upgrades and Downgrades

AME has been the topic of a number of recent analyst reports. Oppenheimer raised shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a report on Wednesday, May 22nd. Truist Financial lowered their target price on shares of 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 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. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Robert W. Baird lowered their target price on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock 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.