Vanguard Personalized Indexing Management LLC Buys 2,396 Shares of AMETEK, Inc. (NYSE:AME)

Vanguard Personalized Indexing Management LLC boosted its stake in AMETEK, Inc. (NYSE:AME) by 12.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 21,878 shares of the technology company’s stock after acquiring an additional 2,396 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in AMETEK were worth $3,603,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. TD Cowen dropped their price target on AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Truist Financial decreased their price objective on AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Royal Bank of Canada cut their target price on AMETEK from $216.00 to $215.00 and set an “outperform” 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $186.29.

AMETEK Trading Up 1.7 %

Shares of AMETEK stock opened at $172.30 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $166.54 and a 200 day simple moving average of $171.46. AMETEK, Inc. has a 12-month low of $136.89 and a 12-month high of $186.32. The company has a market capitalization of $39.88 billion, a P/E ratio of 30.28, a price-to-earnings-growth 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 EPS 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 quarter in the prior year, the company posted $1.57 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that AMETEK, Inc. will post 6.77 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The firm 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 $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Monday, September 16th. AMETEK’s dividend payout ratio is presently 19.68%.

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.