Royal London Asset Management Ltd. Sells 77,479 Shares of AMETEK, Inc. (NYSE:AME)

Royal London Asset Management Ltd. reduced its position in shares of AMETEK, Inc. (NYSE:AME) by 16.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 405,447 shares of the technology company’s stock after selling 77,479 shares during the period. Royal London Asset Management Ltd. owned approximately 0.18% of AMETEK worth $67,592,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in AME. LGT Fund Management Co Ltd. increased its stake in AMETEK by 311.3% in the 2nd quarter. LGT Fund Management Co Ltd. now owns 17,347 shares of the technology company’s stock worth $2,892,000 after acquiring an additional 13,129 shares during the last quarter. LGT Group Foundation grew its holdings in shares of AMETEK by 4.0% during the second quarter. LGT Group Foundation now owns 222,617 shares of the technology company’s stock worth $37,112,000 after purchasing an additional 8,615 shares in the last quarter. Choreo LLC increased its position in shares of AMETEK by 407.4% in the second quarter. Choreo LLC now owns 8,327 shares of the technology company’s stock worth $1,379,000 after purchasing an additional 6,686 shares during the last quarter. Prudential PLC raised its stake in AMETEK by 37.6% in the second quarter. Prudential PLC now owns 3,062 shares of the technology company’s stock valued at $510,000 after purchasing an additional 837 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in AMETEK during the second quarter valued at approximately $61,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AME shares. Truist Financial decreased their price target on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Robert W. Baird lowered their price target on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. TD Cowen cut their price objective on AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a report on Monday, August 5th. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Royal Bank of Canada dropped their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $186.29.

AMETEK Trading Up 0.4 %

Shares of AME stock opened at $164.33 on Tuesday. The business has a 50-day moving average of $166.24 and a 200 day moving average of $171.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32. The stock has a market capitalization of $38.05 billion, a PE ratio of 28.88, a P/E/G ratio of 2.68 and a beta of 1.17.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.02. The firm 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% on a year-over-year basis. During the same quarter last year, the business earned $1.57 earnings per share. As a group, sell-side analysts anticipate that AMETEK, Inc. will post 6.77 earnings per share for the current year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. AMETEK’s dividend payout ratio is currently 19.68%.

Insider Buying and Selling

In other news, Director Steven W. Kohlhagen sold 1,440 shares of the business’s stock in a transaction that occurred 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 transaction, 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 Securities & Exchange Commission, which is available through this link. 0.61% of the stock is owned by insiders.

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.