Bank of New York Mellon Corp Has $600.62 Million Holdings in AMETEK, Inc. (NYSE:AME)

Bank of New York Mellon Corp boosted its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 34.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,602,753 shares of the technology company's stock after purchasing an additional 926,657 shares during the quarter. Bank of New York Mellon Corp owned 1.56% of AMETEK worth $600,615,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in AMETEK during the 4th quarter worth $205,270,000. Handelsbanken Fonder AB lifted its holdings in shares of AMETEK by 135.0% during the 4th quarter. Handelsbanken Fonder AB now owns 39,513 shares of the technology company's stock valued at $6,515,000 after purchasing an additional 22,698 shares in the last quarter. GAMMA Investing LLC bought a new position in AMETEK in the fourth quarter valued at approximately $150,000. Syon Capital LLC boosted its holdings in shares of AMETEK by 26.5% in the fourth quarter. Syon Capital LLC now owns 2,452 shares of the technology company's stock valued at $404,000 after buying an additional 513 shares during the period. Finally, Bryn Mawr Capital Management LLC bought a new stake in shares of AMETEK during the fourth quarter worth $757,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,440 shares of the business's stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the sale, the director now owns 24,809 shares in the company, valued at $4,315,029.37. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.61% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AME shares. Oppenheimer raised shares of AMETEK from a "market perform" rating to an "outperform" rating and set a $200.00 target price for the company in a research note on Wednesday, May 22nd. Robert W. Baird decreased their price objective on AMETEK from $171.00 to $166.00 and set a "neutral" rating for the company in a report on Wednesday, August 7th. TD Cowen cut their target price on AMETEK from $165.00 to $158.00 and set a "hold" rating on the stock in a research note on Monday, August 5th. Truist Financial cut their price objective on shares of 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 decreased their target price on shares of AMETEK from $216.00 to $215.00 and set an "outperform" rating for the company in a research report on Friday, August 2nd. Four research 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $186.29.

AMETEK Stock Performance

NYSE AME traded up $0.98 on Monday, hitting $168.37. 635,050 shares of the stock were exchanged, compared to its average volume of 1,125,002. The business's fifty day moving average is $166.43 and its 200 day moving average is $172.35. AMETEK, Inc. has a 52 week low of $136.89 and a 52 week high of $186.32. The company has a market capitalization of $38.97 billion, a PE ratio of 29.59, a P/E/G ratio of 2.57 and a beta of 1.18. 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 announced its quarterly earnings results 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 firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the business earned $1.57 earnings per share. The business's revenue was up 5.4% compared to the same quarter last year. Research analysts anticipate that AMETEK, Inc. will post 6.78 EPS for the current fiscal year.

AMETEK Announces Dividend

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 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 dividend payout ratio is currently 19.68%.

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.