AMETEK, Inc. (NYSE:AME) Holdings Decreased by ARK Investment Management LLC

ARK Investment Management LLC lowered its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 20.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,345 shares of the technology company's stock after selling 2,736 shares during the period. ARK Investment Management LLC's holdings in AMETEK were worth $1,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Washington Trust Advisors Inc. acquired a new position in shares of AMETEK during the first quarter worth $37,000. Family Firm Inc. acquired a new position in shares of AMETEK during the 2nd quarter worth about $39,000. Headlands Technologies LLC purchased a new position in shares of AMETEK in the 1st quarter valued at about $43,000. Mendota Financial Group LLC acquired a new stake in shares of AMETEK during the 1st quarter worth about $50,000. Finally, First Command Advisory Services Inc. acquired a new position in AMETEK in the second quarter valued at approximately $50,000. Hedge funds and other institutional investors own 87.43% of the company's stock.

Analyst Ratings Changes

AME has been the topic of a number of research analyst reports. TD Cowen cut their price objective on shares of AMETEK from $165.00 to $158.00 and set a "hold" rating on the stock in a report on Monday, August 5th. Truist Financial cut their price target on shares of AMETEK from $204.00 to $201.00 and set a "buy" rating on the stock in a research note on Friday, August 2nd. StockNews.com downgraded shares of AMETEK from a "buy" rating to a "hold" rating in a research note on Tuesday, August 6th. 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, Robert W. Baird decreased their target price on AMETEK from $171.00 to $166.00 and set a "neutral" rating for the company in a research report on Wednesday, August 7th. Four 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $186.29.

AMETEK Stock Performance

Shares of NYSE AME traded down $0.34 during midday trading on Tuesday, reaching $167.98. 686,291 shares of the company were exchanged, compared to its average volume of 1,122,343. The stock has a fifty day simple moving average of $166.43 and a 200 day simple moving average of $172.35. The company has a current ratio of 1.26, a quick ratio of 0.66 and a debt-to-equity ratio of 0.20. The stock has a market cap of $38.88 billion, a P/E ratio of 29.52, a PEG ratio of 2.57 and a beta of 1.18. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32.

AMETEK (NYSE:AME - Get Free Report) last announced its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.02. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period last year, the business posted $1.57 EPS. The company's revenue was up 5.4% on a year-over-year basis. On average, research analysts forecast that AMETEK, Inc. will post 6.78 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

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

Insider Activity

In related news, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.61% of the company's stock.

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.