AQR Capital Management LLC Has $11.80 Million Stock Holdings in AMETEK, Inc. (NYSE:AME)

AQR Capital Management LLC trimmed its holdings in shares of AMETEK, Inc. (NYSE:AME) by 6.6% in the second quarter, Holdings Channel.com reports. The firm owned 70,750 shares of the technology company’s stock after selling 4,977 shares during the quarter. AQR Capital Management LLC’s holdings in AMETEK were worth $11,795,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AME. JPMorgan Chase & Co. increased its position in shares of AMETEK by 48.4% during the first quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock worth $1,294,121,000 after acquiring an additional 2,306,535 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of AMETEK by 34.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after purchasing an additional 926,657 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of AMETEK by 256.3% in the second quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company’s stock valued at $162,844,000 after purchasing an additional 702,674 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of AMETEK during the first quarter worth about $46,343,000. Finally, Sei Investments Co. grew its holdings in shares of AMETEK by 133.3% during the first quarter. Sei Investments Co. now owns 394,881 shares of the technology company’s stock worth $72,223,000 after buying an additional 225,600 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now owns 23,349 shares of the company’s stock, valued at $4,006,454.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on AME. Truist Financial cut their target price on AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Royal Bank of Canada reduced their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. TD Cowen decreased their target price 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. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Robert W. Baird lowered their target price on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Five 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $186.29.

AMETEK Stock Performance

AME opened at $169.10 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. AMETEK, Inc. has a 12-month low of $136.89 and a 12-month high of $186.32. The business has a 50 day moving average of $166.35 and a 200-day moving average of $170.76. The stock has a market cap of $39.14 billion, a price-to-earnings ratio of 29.72, a PEG ratio of 2.81 and a beta of 1.17.

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

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.28 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.12 annualized dividend and a yield of 0.66%. AMETEK’s dividend payout ratio is currently 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.