Raymond James Financial Services Advisors Inc. Sells 10,314 Shares of AMETEK, Inc. (NYSE:AME)

Raymond James Financial Services Advisors Inc. decreased its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 12.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,382 shares of the technology company's stock after selling 10,314 shares during the quarter. Raymond James Financial Services Advisors Inc.'s holdings in AMETEK were worth $12,067,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Washington Trust Advisors Inc. acquired a new stake in shares of AMETEK during the first quarter worth $37,000. Headlands Technologies LLC acquired a new stake in shares of AMETEK during the first quarter worth $43,000. Mendota Financial Group LLC acquired a new stake in shares of AMETEK during the first quarter worth $50,000. Salem Investment Counselors Inc. lifted its holdings in shares of AMETEK by 93.3% during the first quarter. Salem Investment Counselors Inc. now owns 574 shares of the technology company's stock worth $105,000 after buying an additional 277 shares in the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of AMETEK during the second quarter worth $132,000. Institutional investors and hedge funds own 87.43% of the company's stock.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction that occurred on Wednesday, June 12th. The stock was 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 legal filing with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by insiders.

AMETEK Trading Up 1.3 %

Shares of NYSE:AME traded up $2.09 during midday trading on Friday, hitting $167.31. 998,568 shares of the stock were exchanged, compared to its average volume of 1,128,003. The business's 50-day moving average price is $166.42 and its 200 day moving average price is $172.25. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.66 and a current ratio of 1.26. The stock has a market capitalization of $38.73 billion, a price-to-earnings ratio of 29.20, a P/E/G ratio of 2.57 and a beta of 1.18. AMETEK, Inc. has a 12 month low of $136.89 and a 12 month high of $186.32.

AMETEK (NYSE:AME - Get Free Report) last posted 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 company had revenue of $1.73 billion for 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 firm's quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.57 earnings per share. Analysts predict 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. Investors of record on Monday, September 16th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Monday, September 16th. AMETEK's dividend payout ratio is currently 19.68%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AME shares. Robert W. Baird dropped their target price on AMETEK from $171.00 to $166.00 and set a "neutral" rating for the company in a report on Wednesday, August 7th. StockNews.com cut AMETEK from a "buy" rating to a "hold" rating in a research report on Tuesday, August 6th. Redburn Atlantic upgraded AMETEK to a "strong-buy" rating in a research report on Friday, August 2nd. Truist Financial decreased their target price on AMETEK from $204.00 to $201.00 and set a "buy" rating on the stock in a research report on Friday, August 2nd. Finally, Royal Bank of Canada reduced their price target on AMETEK from $216.00 to $215.00 and set an "outperform" rating on the stock in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $186.29.

About AMETEK

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.