AMETEK (NYSE:AME) Sees Large Volume Increase

Shares of AMETEK, Inc. (NYSE:AME) saw unusually-strong trading volume on Wednesday . Approximately 429,551 shares changed hands during trading, a decline of 61% from the previous session’s volume of 1,111,275 shares.The stock last traded at $169.54 and had previously closed at $168.57.

Analyst Ratings Changes

Several brokerages have weighed in on AME. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Royal Bank of Canada lowered their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Truist Financial cut their target price on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. TD Cowen lowered their price target 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. Finally, Robert W. Baird cut their price objective on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $186.29.

AMETEK Stock Up 1.7 %

The business’s fifty day moving average price is $166.54 and its two-hundred day moving average price is $171.46. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26. The firm has a market capitalization of $39.88 billion, a P/E ratio of 30.28, a PEG ratio of 2.71 and a beta of 1.17.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period last year, the firm earned $1.57 earnings per share. AMETEK’s revenue was up 5.4% compared to the same quarter last year. Equities analysts expect that AMETEK, Inc. will post 6.77 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.28 per share. The ex-dividend date is Monday, September 16th. This represents a $1.12 annualized dividend and a yield of 0.65%. AMETEK’s dividend payout ratio (DPR) is 19.68%.

Institutional Investors Weigh In On AMETEK

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AME. KP Management LLC grew its stake in shares of AMETEK by 17.1% during the second quarter. KP Management LLC now owns 20,500 shares of the technology company’s stock worth $3,418,000 after acquiring an additional 3,000 shares during the last quarter. Prio Wealth Limited Partnership grew its position in AMETEK by 11.8% during the 2nd quarter. Prio Wealth Limited Partnership now owns 1,417 shares of the technology company’s stock worth $236,000 after purchasing an additional 150 shares during the last quarter. Cim LLC grew its position in AMETEK by 2.8% during the 2nd quarter. Cim LLC now owns 7,196 shares of the technology company’s stock worth $1,188,000 after purchasing an additional 197 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in AMETEK during the 2nd quarter valued at approximately $2,472,000. Finally, EP Wealth Advisors LLC raised its holdings in shares of AMETEK by 1.1% in the second quarter. EP Wealth Advisors LLC now owns 6,330 shares of the technology company’s stock worth $1,055,000 after buying an additional 71 shares during the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

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.