AMETEK, Inc. (NYSE:AME) Stake Increased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in AMETEK, Inc. (NYSE:AME - Free Report) by 18.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,098 shares of the technology company's stock after purchasing an additional 5,340 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in AMETEK were worth $5,684,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Washington Trust Advisors Inc. purchased a new position in AMETEK in the first quarter valued at approximately $37,000. Family Firm Inc. purchased a new position in shares of AMETEK in the 2nd quarter valued at $39,000. Headlands Technologies LLC acquired a new stake in AMETEK during the 1st quarter worth $43,000. Industrial Alliance Investment Management Inc. acquired a new stake in AMETEK during the 2nd quarter worth $42,000. Finally, Mendota Financial Group LLC purchased a new stake in AMETEK in the first quarter valued at $50,000. Institutional investors and hedge funds own 87.43% of the company's stock.

AMETEK Stock Performance

Shares of AMETEK stock traded up $1.67 during trading hours on Friday, hitting $171.05. 1,235,645 shares of the company were exchanged, compared to its average volume of 1,450,687. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average of $166.38 and a 200-day moving average of $172.35. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32. The stock has a market capitalization of $39.60 billion, a price-to-earnings ratio of 30.06, a P/E/G ratio of 2.81 and a beta of 1.18.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.64 by $0.02. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. AMETEK's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.57 EPS. As a group, analysts expect that AMETEK, Inc. will post 6.77 EPS for the current fiscal year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.28 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. AMETEK's payout ratio is currently 19.68%.

Insider Buying and Selling at AMETEK

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 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 approximately $4,315,029.37. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.61% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AME. Truist Financial dropped their price objective on AMETEK from $204.00 to $201.00 and set a "buy" rating on the stock in a report on Friday, August 2nd. Redburn Atlantic upgraded AMETEK to a "strong-buy" rating in a research note 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 for the company in a report on Friday, August 2nd. StockNews.com cut shares of AMETEK from a "buy" rating to a "hold" rating in a report on Tuesday, August 6th. Finally, Oppenheimer upgraded shares of AMETEK from a "market perform" rating to an "outperform" rating and set a $200.00 price target for the company in a research note on Wednesday, May 22nd. 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $186.29.

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.