Zurcher Kantonalbank Zurich Cantonalbank Purchases 10,452 Shares of AMETEK, Inc. (NYSE:AME)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 15.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,279 shares of the technology company's stock after buying an additional 10,452 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in AMETEK were worth $12,716,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in AMETEK by 7.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company's stock worth $157,000 after acquiring an additional 61 shares in the last quarter. MorganRosel Wealth Management LLC raised its stake in AMETEK by 1.6% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company's stock valued at $648,000 after purchasing an additional 61 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in shares of AMETEK by 4.8% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company's stock valued at $224,000 after acquiring an additional 61 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of AMETEK by 2.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company's stock worth $440,000 after purchasing an additional 62 shares during the last quarter. Finally, Checchi Capital Advisers LLC grew its position in AMETEK by 2.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company's stock valued at $371,000 after acquiring an additional 63 shares in the last quarter. Institutional investors own 87.43% of the company's stock.

AMETEK Price Performance

AME stock traded up $0.81 during midday trading on Thursday, reaching $169.40. 856,335 shares of the stock were exchanged, compared to its average volume of 1,119,008. The company has a fifty day moving average price of $166.32 and a 200 day moving average price of $172.32. 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. The stock has a market capitalization of $39.21 billion, a PE ratio of 29.77, a P/E/G ratio of 2.57 and a beta of 1.18.

AMETEK (NYSE:AME - Get Free Report) last issued its earnings results on Thursday, August 1st. The technology company reported $1.66 EPS 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 during the quarter, compared to the consensus estimate of $1.78 billion. During the same period last year, the business posted $1.57 EPS. The firm's revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, analysts expect that AMETEK, Inc. will post 6.78 EPS for the current fiscal year.

AMETEK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Monday, September 16th. AMETEK's dividend payout ratio (DPR) is 19.68%.

Analysts Set New Price Targets

AME has been the subject of several research analyst reports. Oppenheimer raised AMETEK from a "market perform" rating to an "outperform" rating and set a $200.00 price objective for the company in a research note on Wednesday, May 22nd. Royal Bank of Canada reduced their price objective on shares of AMETEK from $216.00 to $215.00 and set an "outperform" rating for the company in a report on Friday, August 2nd. Truist Financial reduced their target price on AMETEK from $204.00 to $201.00 and set a "buy" rating for the company in a report on Friday, August 2nd. StockNews.com downgraded AMETEK from a "buy" rating to a "hold" rating in a report on Tuesday, August 6th. Finally, TD Cowen decreased their price target 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. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $186.29.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the company's 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 transaction, the director now owns 24,809 shares in the company, valued at approximately $4,315,029.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is currently owned by company insiders.

AMETEK 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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