AMETEK (NYSE:AME) Sees Large Volume Increase

AMETEK, Inc. (NYSE:AME) saw unusually-strong trading volume on Wednesday . Approximately 429,551 shares were traded during mid-day trading, a decline of 61% from the previous session’s volume of 1,111,275 shares.The stock last traded at $169.54 and had previously closed at $168.57.

Analyst Ratings Changes

AME has been the subject of a number of research analyst reports. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Robert W. Baird reduced their price target 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. Oppenheimer upgraded AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a research report on Wednesday, May 22nd. Truist Financial dropped their price target on AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, Royal Bank of Canada reduced their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and an average target price of $186.29.

AMETEK Trading Down 0.2 %

The stock has a market cap of $38.92 billion, a PE ratio of 29.63, a PEG ratio of 2.71 and a beta of 1.17. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26. The stock has a fifty day moving average price of $166.41 and a 200 day moving average price of $171.47.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business 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 given a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

Institutional Trading of AMETEK

A number of large investors have recently made changes to their positions in AME. Washington Trust Advisors Inc. bought a new position in AMETEK in the first quarter worth approximately $37,000. Family Firm Inc. purchased a new position in shares of AMETEK during the second quarter valued at $39,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of AMETEK in the second quarter valued at about $42,000. Headlands Technologies LLC bought a new position in AMETEK during the 1st quarter worth about $43,000. Finally, Crewe Advisors LLC increased its position in AMETEK by 168.8% during the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock valued at $49,000 after purchasing an additional 184 shares during the period. 87.43% of the stock is owned by hedge funds and other institutional investors.

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.