Allspring Global Investments Holdings LLC Sells 2,475 Shares of AMETEK, Inc. (NYSE:AME)

Allspring Global Investments Holdings LLC decreased its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,043 shares of the technology company's stock after selling 2,475 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.07% of AMETEK worth $26,014,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AME. Vanguard Group Inc. raised its position in AMETEK by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 25,578,270 shares of the technology company's stock valued at $4,217,601,000 after purchasing an additional 84,832 shares in the last quarter. JPMorgan Chase & Co. lifted its position in AMETEK by 48.4% in the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company's stock worth $1,294,121,000 after buying an additional 2,306,535 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in AMETEK by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company's stock worth $1,195,478,000 after buying an additional 44,899 shares during the last quarter. Capital International Investors boosted its stake in AMETEK by 5.0% in the fourth quarter. Capital International Investors now owns 4,196,755 shares of the technology company's stock worth $692,051,000 after buying an additional 198,777 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in AMETEK by 34.6% during the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company's stock valued at $600,615,000 after acquiring an additional 926,657 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,440 shares of the 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 completion of the transaction, the director now owns 24,809 shares of the company's stock, valued at approximately $4,315,029.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AME. TD Cowen lowered their price objective on shares of AMETEK from $165.00 to $158.00 and set a "hold" rating for the company in a report on Monday, August 5th. Redburn Atlantic upgraded shares of AMETEK to a "strong-buy" rating in a research report on Friday, August 2nd. Royal Bank of Canada decreased their price objective on AMETEK from $216.00 to $215.00 and set an "outperform" rating on the stock in a report on Friday, August 2nd. 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. Finally, StockNews.com lowered AMETEK from a "buy" rating to a "hold" rating in a research report on Tuesday, August 6th. 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $186.29.

AMETEK Trading Up 0.4 %

Shares of NYSE AME traded up $0.65 during trading hours on Wednesday, hitting $168.63. The company's stock had a trading volume of 831,496 shares, compared to its average volume of 1,120,590. The business has a 50-day simple moving average of $166.32 and a 200-day simple moving average of $172.32. The stock has a market cap of $39.03 billion, a price-to-earnings ratio of 29.64, 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 quick ratio of 0.66 and a current ratio of 1.26. 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 issued its quarterly earnings data 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. The firm 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 business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $1.57 EPS. On average, analysts anticipate that AMETEK, Inc. will post 6.78 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.28 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. AMETEK's dividend payout ratio is 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.