Bank Pictet & Cie Europe AG Purchases 6,649 Shares of AMETEK, Inc. (NYSE:AME)

Bank Pictet & Cie Europe AG lifted its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 4.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 146,157 shares of the technology company's stock after purchasing an additional 6,649 shares during the period. Bank Pictet & Cie Europe AG owned 0.06% of AMETEK worth $24,366,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in AMETEK by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 25,578,270 shares of the technology company's stock worth $4,217,601,000 after acquiring an additional 84,832 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of AMETEK by 48.4% during the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company's stock valued at $1,294,121,000 after acquiring an additional 2,306,535 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of AMETEK by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company's stock valued at $1,195,478,000 after acquiring an additional 44,899 shares in the last quarter. Capital International Investors boosted its holdings in shares of AMETEK by 5.0% during the 4th quarter. Capital International Investors now owns 4,196,755 shares of the technology company's stock valued at $692,051,000 after acquiring an additional 198,777 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of AMETEK during the 4th quarter valued at $589,098,000. Institutional investors own 87.43% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Robert W. Baird cut their target price on AMETEK from $171.00 to $166.00 and set a "neutral" rating on the stock in a report on Wednesday, August 7th. Truist Financial dropped their price objective on AMETEK from $204.00 to $201.00 and set a "buy" rating on the stock in a research note on Friday, August 2nd. Oppenheimer raised AMETEK from a "market perform" rating to an "outperform" rating and set a $200.00 price objective on the stock in a research note on Wednesday, May 22nd. TD Cowen decreased their target price on AMETEK from $165.00 to $158.00 and set a "hold" rating for the company in a research report on Monday, August 5th. Finally, Redburn Atlantic raised AMETEK to a "strong-buy" rating in a research report on Friday, August 2nd. Four research 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $186.29.

AMETEK Stock Performance

Shares of NYSE:AME traded up $2.17 during trading on Friday, hitting $167.39. 999,349 shares of the company were exchanged, compared to its average volume of 1,128,003. The company has a market cap of $38.75 billion, a PE ratio of 29.42, a P/E/G ratio of 2.57 and a beta of 1.18. The stock has a 50 day moving average of $166.43 and a 200 day moving average of $172.30. AMETEK, Inc. 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 current ratio of 1.26 and a quick ratio of 0.66.

AMETEK (NYSE:AME - Get Free Report) last posted its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.02. The firm had revenue of $1.73 billion for 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 business's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.57 earnings per share. As a group, equities research analysts predict that AMETEK, Inc. will post 6.78 EPS for the current year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.28 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. AMETEK's payout ratio is currently 19.68%.

Insider Transactions 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 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 at the SEC website. Insiders own 0.61% of the company's stock.

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.

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