AMETEK, Inc. (NYSE:AME) Stake Boosted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its position in AMETEK, Inc. (NYSE:AME) by 15.9% during the second quarter, HoldingsChannel.com reports. The firm owned 76,279 shares of the technology company’s stock after buying an additional 10,452 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AMETEK were worth $12,716,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AME. EverSource Wealth Advisors LLC increased its holdings in AMETEK by 7.3% in the first quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company’s stock worth $157,000 after buying an additional 61 shares during the last quarter. MorganRosel Wealth Management LLC lifted its stake in shares of AMETEK by 1.6% in the second quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company’s stock worth $648,000 after buying an additional 61 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of AMETEK by 4.8% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock worth $224,000 after buying an additional 61 shares during the period. First Horizon Advisors Inc. grew its stake in AMETEK by 2.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock valued at $440,000 after buying an additional 62 shares during the last quarter. Finally, Checchi Capital Advisers LLC increased its stake in shares of AMETEK by 2.9% in the second quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock worth $371,000 after purchasing an additional 63 shares during the period. 87.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Steven W. Kohlhagen sold 1,440 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were 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 of the company’s stock, valued at $4,315,029.37. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. TD Cowen cut 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. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada reduced their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, 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. Four investment 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 MarketBeat.com, AMETEK has an average rating of “Moderate Buy” and an average price target of $186.29.

AMETEK Price Performance

Shares of AMETEK stock traded up $0.81 during mid-day trading on Thursday, reaching $169.40. 856,335 shares of the stock were exchanged, compared to its average volume of 1,119,008. AMETEK, Inc. has a fifty-two week low of $136.89 and a fifty-two week high of $186.32. The company has a market cap of $39.21 billion, a price-to-earnings ratio of 29.77, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18. The firm has a 50-day simple moving average of $166.32 and a 200 day simple moving average of $172.32. The company has a current ratio of 1.26, a quick ratio of 0.66 and a debt-to-equity ratio of 0.20.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 EPS 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 company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the firm earned $1.57 earnings per share. The business’s revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts predict that AMETEK, Inc. will post 6.78 EPS for the current fiscal year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Monday, September 16th. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

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.