BNP PARIBAS ASSET MANAGEMENT Holding S.A. Buys 9,896 Shares of AMETEK, Inc. (NYSE:AME)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 104.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,366 shares of the technology company's stock after purchasing an additional 9,896 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in AMETEK were worth $3,229,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Industrial Alliance Investment Management Inc. acquired a new stake in shares of AMETEK during the second quarter valued at approximately $42,000. Smith Salley Wealth Management raised its holdings in shares of AMETEK by 7.7% during the second quarter. Smith Salley Wealth Management now owns 125,711 shares of the technology company's stock valued at $20,957,000 after acquiring an additional 9,025 shares during the period. Principal Financial Group Inc. raised its holdings in shares of AMETEK by 256.3% during the second quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company's stock valued at $162,844,000 after acquiring an additional 702,674 shares during the period. Crewe Advisors LLC raised its holdings in shares of AMETEK by 168.8% during the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company's stock valued at $49,000 after acquiring an additional 184 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of AMETEK by 15.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 76,279 shares of the technology company's stock valued at $12,716,000 after acquiring an additional 10,452 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Stock Up 1.0 %

Shares of AME traded up $1.67 during mid-day trading on Monday, hitting $171.05. 1,235,600 shares of the company's stock were exchanged, compared to its average volume of 1,119,702. The firm has a fifty day moving average of $166.38 and a two-hundred day moving average of $172.32. AMETEK, Inc. has a twelve month low of $136.89 and a twelve month high of $186.32. The stock has a market cap 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. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20.

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

AMETEK Dividend Announcement

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 issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Monday, September 16th. AMETEK's dividend payout ratio is currently 19.68%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Redburn Atlantic upgraded shares of AMETEK to a "strong-buy" rating in a report on Friday, August 2nd. StockNews.com lowered shares of AMETEK from a "buy" rating to a "hold" rating in a research note on Tuesday, August 6th. Oppenheimer upgraded shares of AMETEK from a "market perform" rating to an "outperform" rating and set a $200.00 price objective on the stock in a research note on Wednesday, May 22nd. Truist Financial dropped their price objective 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. Finally, TD Cowen dropped their price objective on shares of AMETEK from $165.00 to $158.00 and set a "hold" rating on the stock in a research note on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $186.29.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,440 shares of the company's stock in a transaction on 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 sale, the director now directly owns 24,809 shares of the company's stock, valued at approximately $4,315,029.37. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.61% of the stock is owned by insiders.

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.