Raymond James Trust N.A. Acquires 204 Shares of AMETEK, Inc. (NYSE:AME)

Raymond James Trust N.A. lifted its stake in AMETEK, Inc. (NYSE:AME) by 2.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,468 shares of the technology company’s stock after buying an additional 204 shares during the quarter. Raymond James Trust N.A.’s holdings in AMETEK were worth $1,578,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of AMETEK during the 4th quarter valued at about $589,098,000. JPMorgan Chase & Co. grew its holdings in AMETEK by 48.4% during the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock valued at $1,294,121,000 after buying an additional 2,306,535 shares in the last quarter. Maren Capital LLC bought a new stake in AMETEK in the 4th quarter worth approximately $64,284,000. Dimensional Fund Advisors LP raised its holdings in shares of AMETEK by 17.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,701,558 shares of the technology company’s stock worth $280,573,000 after acquiring an additional 255,193 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of AMETEK in the first quarter valued at $46,343,000. Institutional investors own 87.43% of the company’s stock.

AMETEK Trading Up 1.3 %

Shares of AMETEK stock traded up $2.17 on Friday, hitting $167.39. 999,349 shares of the company traded hands, compared to its average volume of 1,128,003. The company has a current ratio of 1.26, a quick ratio of 0.66 and a debt-to-equity ratio of 0.20. The company has a market cap of $38.75 billion, a PE ratio of 29.42, a PEG ratio of 2.57 and a beta of 1.18. The stock’s 50 day moving average price is $166.43 and its 200-day moving average price is $172.33. 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 the consensus estimate of $1.64 by $0.02. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.57 EPS. Equities research analysts predict that AMETEK, Inc. will post 6.78 EPS for the current year.

AMETEK Dividend Announcement

The firm 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 $0.28 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. AMETEK’s payout ratio is presently 19.68%.

Insider Activity

In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the company’s stock in a transaction on 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 owns 24,809 shares in the company, valued at $4,315,029.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on AME. TD Cowen lowered their price objective on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Royal Bank of Canada dropped their price target on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Oppenheimer upgraded AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research report on Wednesday, May 22nd. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Truist Financial decreased their price target on AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AMETEK currently has an average rating of “Moderate Buy” and a consensus 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.