Quotient Wealth Partners LLC Sells 366 Shares of AMETEK, Inc. (NYSE:AME)

Quotient Wealth Partners LLC lowered its position in shares of AMETEK, Inc. (NYSE:AME) by 19.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,483 shares of the technology company’s stock after selling 366 shares during the quarter. Quotient Wealth Partners LLC’s holdings in AMETEK were worth $247,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Washington Trust Advisors Inc. bought a new position in AMETEK during the first quarter valued at about $37,000. Headlands Technologies LLC bought a new position in shares of AMETEK during the 1st quarter valued at approximately $43,000. Mendota Financial Group LLC purchased a new stake in shares of AMETEK during the 1st quarter worth approximately $50,000. Salem Investment Counselors Inc. raised its holdings in shares of AMETEK by 93.3% in the 1st quarter. Salem Investment Counselors Inc. now owns 574 shares of the technology company’s stock worth $105,000 after purchasing an additional 277 shares during the period. Finally, Opal Wealth Advisors LLC purchased a new position in AMETEK in the second quarter valued at approximately $132,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insider Buying and Selling

In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the 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 transaction, the director now directly owns 24,809 shares in the company, valued at $4,315,029.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

AMETEK Stock Up 1.3 %

Shares of NYSE:AME opened at $167.39 on Friday. The firm has a fifty day moving average price of $166.43 and a two-hundred day moving average price of $172.30. The company has a market cap of $38.75 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 2.57 and a beta of 1.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.66. AMETEK, Inc. has a one year low of $136.89 and a one year high of $186.32.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate 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 during 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. AMETEK’s revenue was up 5.4% on a year-over-year basis. Analysts anticipate that AMETEK, Inc. will post 6.78 EPS for the current fiscal year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders 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%.

Analyst Ratings Changes

AME has been the topic of several research reports. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. TD Cowen lowered their price objective on AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Royal Bank of Canada cut their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Truist Financial dropped their price target on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, Robert W. Baird reduced their price objective on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $186.29.

About AMETEK

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.