Glenmede Trust Co. NA Sells 5,183 Shares of AMETEK, Inc. $AME

Glenmede Trust Co. NA decreased its position in AMETEK, Inc. (NYSE:AME) by 1.4% during the first quarter, Holdings Channel.com reports. The fund owned 368,504 shares of the technology company’s stock after selling 5,183 shares during the quarter. Glenmede Trust Co. NA’s holdings in AMETEK were worth $78,993,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Darwin Wealth Management LLC bought a new stake in shares of AMETEK in the second quarter worth about $25,000. CoreCap Advisors LLC raised its position in AMETEK by 84.3% during the 4th quarter. CoreCap Advisors LLC now owns 129 shares of the technology company’s stock valued at $26,000 after purchasing an additional 59 shares during the last quarter. MV Capital Management Inc. bought a new position in AMETEK during the 4th quarter valued at approximately $28,000. Brown Lisle Cummings Inc. lifted its holdings in AMETEK by 878.6% in the 1st quarter. Brown Lisle Cummings Inc. now owns 137 shares of the technology company’s stock worth $29,000 after buying an additional 123 shares during the period. Finally, BOKF NA grew its position in shares of AMETEK by 137.7% in the 4th quarter. BOKF NA now owns 145 shares of the technology company’s stock worth $30,000 after buying an additional 84 shares during the last quarter. 87.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

AME has been the topic of several research analyst reports. Royal Bank Of Canada boosted their target price on AMETEK from $259.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Wall Street Zen lowered AMETEK from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Weiss Ratings cut shares of AMETEK from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Truist Financial boosted their price objective on shares of AMETEK from $275.00 to $303.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, DA Davidson restated a “buy” rating and issued a $265.00 price objective on shares of AMETEK in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $256.29.

AMETEK Stock Up 0.9%

AME stock opened at $242.19 on Friday. AMETEK, Inc. has a fifty-two week low of $179.24 and a fifty-two week high of $244.97. The business’s 50 day moving average price is $233.57 and its two-hundred day moving average price is $228.52. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.72 and a current ratio of 1.14. The company has a market capitalization of $55.51 billion, a price-to-earnings ratio of 36.58, a price-to-earnings-growth ratio of 3.36 and a beta of 0.99.

AMETEK (NYSE:AME) last released its earnings results on Thursday, April 30th. The technology company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.91 billion. AMETEK had a return on equity of 16.63% and a net margin of 20.11%.The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.75 EPS. As a group, analysts forecast that AMETEK, Inc. will post 8.14 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 15th. AMETEK’s dividend payout ratio is presently 20.54%.

AMETEK Company Profile

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.

The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.