AMETEK, Inc. $AME Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its stake in AMETEK, Inc. (NYSE:AME – Free Report) by 3.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,531 shares of the technology company’s stock after selling 3,508 shares during the quarter. Pictet Asset Management Holding SA’s holdings in AMETEK were worth $27,630,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. QRG Capital Management Inc. raised its holdings in AMETEK by 1,002.4% during the second quarter. QRG Capital Management Inc. now owns 132,612 shares of the technology company’s stock worth $32,084,000 after purchasing an additional 120,583 shares during the last quarter. National Pension Service boosted its position in AMETEK by 1.6% during the second quarter. National Pension Service now owns 338,990 shares of the technology company’s stock worth $82,015,000 after purchasing an additional 5,382 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in AMETEK by 450.1% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 6,612 shares of the technology company’s stock valued at $1,638,000 after purchasing an additional 5,410 shares during the last quarter. Groupe la Francaise grew its holdings in AMETEK by 15.6% in the second quarter. Groupe la Francaise now owns 154,326 shares of the technology company’s stock valued at $37,361,000 after purchasing an additional 20,780 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in AMETEK by 93.0% in the first quarter. Jennison Associates LLC now owns 256,693 shares of the technology company’s stock valued at $55,025,000 after purchasing an additional 123,719 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AME. Truist Financial raised their price target on AMETEK from $303.00 to $316.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Vertical Research assumed coverage on shares of AMETEK in a research report on Tuesday, September 8th. They issued a “buy” rating and a $255.00 price objective on the stock. Zacks Research raised shares of AMETEK from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Rothschild & Co Redburn increased their price objective on shares of AMETEK from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, BNP Paribas Exane raised their target price on shares of AMETEK from $280.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, AMETEK currently has a consensus rating of “Moderate Buy” and an average price target of $278.06.

View Our Latest Analysis on AMETEK

AMETEK Price Performance

Shares of NYSE:AME opened at $239.66 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.91 and a current ratio of 1.43. The business’s fifty day moving average price is $243.17 and its two-hundred day moving average price is $234.88. The stock has a market cap of $54.96 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 2.13 and a beta of 0.96. AMETEK, Inc. has a one year low of $188.47 and a one year high of $261.16.

AMETEK (NYSE:AME – Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The technology company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.10. AMETEK had a return on equity of 17.12% and a net margin of 19.91%. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, analysts forecast that AMETEK, Inc. will post 8.58 EPS for the current fiscal year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Friday, December 4th. AMETEK’s dividend payout ratio (DPR) is currently 19.18%.

AMETEK Company Profile

(Free Report)

AMETEK, Inc. is a global manufacturer of electronic instruments and electromechanical products. Its businesses serve a range of markets, including aerospace, energy, industrial manufacturing, medical, and transportation. The company’s products include analytical and process instruments, monitoring and measurement systems, aerospace components, precision motors and pumps, and engineered materials. AMETEK organizes its operations into two groups: Electronic Instruments and Electromechanical. Founded in 1930, AMETEK serves customers around the world through manufacturing facilities, sales offices, and service operations in multiple countries.

Further Reading

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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