Rhumbline Advisers Trims Holdings in AMETEK, Inc. (NYSE:AME)

Rhumbline Advisers lowered its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 498,904 shares of the technology company's stock after selling 5,330 shares during the quarter. Rhumbline Advisers owned 0.22% of AMETEK worth $83,172,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. grew its position in shares of AMETEK by 577.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 976 shares of the technology company's stock valued at $161,000 after purchasing an additional 832 shares during the period. M&T Bank Corp lifted its stake in shares of AMETEK by 0.5% in the fourth quarter. M&T Bank Corp now owns 15,442 shares of the technology company's stock worth $2,547,000 after buying an additional 73 shares in the last quarter. Metis Global Partners LLC lifted its stake in shares of AMETEK by 0.5% in the fourth quarter. Metis Global Partners LLC now owns 15,934 shares of the technology company's stock worth $2,627,000 after buying an additional 82 shares in the last quarter. Private Advisor Group LLC lifted its stake in shares of AMETEK by 5.1% in the fourth quarter. Private Advisor Group LLC now owns 9,000 shares of the technology company's stock worth $1,484,000 after buying an additional 435 shares in the last quarter. Finally, Maryland State Retirement & Pension System raised its stake in AMETEK by 1.9% during the fourth quarter. Maryland State Retirement & Pension System now owns 17,897 shares of the technology company's stock worth $2,951,000 after purchasing an additional 335 shares during the period. Institutional investors and hedge funds own 87.43% of the company's stock.

AMETEK Stock Up 0.5 %

Shares of AME stock traded up $0.82 during trading on Wednesday, reaching $167.50. The company's stock had a trading volume of 1,107,300 shares, compared to its average volume of 1,119,822. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32. The company has a market capitalization of $38.77 billion, a price-to-earnings ratio of 29.45, a P/E/G ratio of 2.81 and a beta of 1.17. The stock's 50-day moving average price is $166.34 and its 200 day moving average price is $172.27.

AMETEK (NYSE:AME - Get Free Report) last posted 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. The company had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm's revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.57 EPS. On average, research analysts anticipate that AMETEK, Inc. will post 6.77 EPS for the current year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.28 per share. The ex-dividend date is Monday, September 16th. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. AMETEK's dividend payout ratio is presently 19.68%.

Insider Transactions at AMETEK

In other AMETEK 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 transaction, the director now owns 24,809 shares in the company, valued at approximately $4,315,029.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.61% of the company's stock.

Wall Street Analysts Forecast Growth

AME has been the topic of a number of analyst reports. StockNews.com downgraded shares of AMETEK from a "buy" rating to a "hold" rating in a research note on Tuesday, August 6th. Oppenheimer raised shares of AMETEK from a "market perform" rating to an "outperform" rating and set a $200.00 target price on the stock in a research note on Wednesday, May 22nd. Truist Financial dropped their price target on shares of AMETEK from $204.00 to $201.00 and set a "buy" rating for the company in a research report on Friday, August 2nd. Robert W. Baird dropped their price target on shares of AMETEK from $171.00 to $166.00 and set a "neutral" rating for the company in a research report on Wednesday, August 7th. Finally, TD Cowen dropped their price target on shares of AMETEK from $165.00 to $158.00 and set a "hold" rating for the company in a research report on Monday, August 5th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $186.29.

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.