Swedbank AB Purchases 46,903 Shares of AMETEK, Inc. (NYSE:AME)

Swedbank AB lifted its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 223.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,858 shares of the technology company's stock after purchasing an additional 46,903 shares during the quarter. Swedbank AB's holdings in AMETEK were worth $11,313,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Wetzel Investment Advisors Inc. bought a new position in AMETEK during the 4th quarter valued at $25,000. Rakuten Securities Inc. bought a new position in AMETEK during the fourth quarter valued at about $31,000. Washington Trust Advisors Inc. acquired a new position in AMETEK during the first quarter worth about $37,000. Headlands Technologies LLC bought a new stake in AMETEK in the first quarter worth about $43,000. Finally, Mendota Financial Group LLC acquired a new stake in AMETEK in the 1st quarter valued at about $50,000. Institutional investors and hedge funds own 87.43% of the company's stock.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,440 shares of the company's stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the transaction, the director now directly owns 24,809 shares of the company's stock, valued at $4,315,029.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AME shares. StockNews.com downgraded shares of AMETEK from a "buy" rating to a "hold" rating in a report on Tuesday, August 6th. Redburn Atlantic raised AMETEK to a "strong-buy" rating in a report on Friday, August 2nd. TD Cowen reduced their price objective on AMETEK from $165.00 to $158.00 and set a "hold" rating for the company in a research note on Monday, August 5th. 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 research report on Friday, August 2nd. Finally, Truist Financial decreased their price target on AMETEK from $204.00 to $201.00 and set a "buy" rating for the company in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $186.29.

AMETEK Stock Down 0.3 %

Shares of AMETEK stock traded down $0.46 during midday trading on Friday, hitting $162.69. The company's stock had a trading volume of 1,039,517 shares, compared to its average volume of 1,133,188. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32. The company has a quick ratio of 0.66, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $37.66 billion, a P/E ratio of 28.59, a PEG ratio of 2.57 and a beta of 1.18. The stock has a 50-day simple moving average of $167.07 and a 200-day simple moving average of $172.30.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.64 by $0.02. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company posted $1.57 EPS. As a group, sell-side analysts expect that AMETEK, Inc. will post 6.78 earnings per share for the current year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.12 annualized dividend and a yield of 0.69%. AMETEK's dividend payout ratio is presently 19.68%.

AMETEK Company 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.