&Partners buys 2,151 shares of AMETEK, Inc. (NYSE:AME)

VaselineAugust 25, 2024

0 4 minutes read

&Partners increased its stake in AMETEK, Inc. (NYSE:AME – Free Report) by 168.2% during the second quarter, HoldingsChannel.com reports. The fund owned 3,430 shares of the technology company’s stock after acquiring an additional 2,151 shares during the period. &Partners’ holdings in AMETEK were worth $572,000 as of its most recent SEC filing.

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

Analysts on Wall Street are forecasting an increase

Several research firms recently weighed in on AME. Oppenheimer raised AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a research report on Wednesday, May 22nd. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. TD Cowen cut their price target on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Robert W. Baird cut their price target on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada cut their price target 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 . Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Moderate Buy” and a consensus price target of $186.29, according to MarketBeat.

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Check out our latest research report on AME

Insider buying and selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,440 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the sale, the director now owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. Company insiders own 0.61% of the company’s shares.

AMETEK price performance

NYSE:AME opened at $167.31 on Friday. The company has a market cap of $38.73 billion, a price-to-earnings ratio of 29.40, a PEG ratio of 2.57 and a beta of 1.18. The company has a 50-day moving average of $166.43 and a 200-day moving average of $172.25. AMETEK, Inc. it has a 52-week low of $136.89 and a 52-week high of $186.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.66, and a current ratio of 1.26.

AMETEK (NYSE:AME – Get Your Free Report ) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.78 billion. In the same period last year, the company earned $1.57 per share. The company’s quarterly revenue was up 5.4% year over year. As a group, equities research analysts anticipate that AMETEK, Inc. will post 6.78 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

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 is Monday, September 16. This represents an annualized dividend of $1.12 and a yield of 0.67%. AMETEK’s dividend payout ratio is currently 19.68%.

AMETEK company profile

(Free report)

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in North America, Europe, Asia and South America and internationally. The company’s EIG segment provides advanced tools for the process, aerospace, energy and industrial markets; process and analytical instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation and food and beverage industries; instruments for the laboratory equipment, ultra-precision manufacturing, medical and test and measurement markets; power quality monitors and c, uninterruptible power supplies, programmable power and electromagnetic compatibility test equipment and sensors for gas turbines and on-board instruments; heavy duty trucks, tools and controls for the food and beverage industry; and aircraft and engine sensors, power supplies, embedded computing, monitoring, fuel and fluid metering, and data acquisition systems for the aerospace and defense industries.