US Bancorp DE Increases Holdings in AMETEK, Inc. (NYSE:AME)

US Bancorp DE increased its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 12.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,695 shares of the technology company's stock after purchasing an additional 4,022 shares during the quarter. US Bancorp DE's holdings in AMETEK were worth $6,301,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AME. JPMorgan Chase & Co. boosted its holdings in AMETEK by 48.4% in the first quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company's stock worth $1,294,121,000 after purchasing an additional 2,306,535 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in AMETEK by 34.6% in the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company's stock worth $600,615,000 after purchasing an additional 926,657 shares during the last quarter. Meridiem Investment Management Ltd. purchased a new position in shares of AMETEK during the 3rd quarter worth $130,579,000. Principal Financial Group Inc. boosted its stake in shares of AMETEK by 256.3% during the 2nd quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company's stock worth $162,844,000 after acquiring an additional 702,674 shares during the last quarter. Finally, James Hambro & Partners LLP purchased a new position in shares of AMETEK during the 3rd quarter worth $60,188,000. Hedge funds and other institutional investors own 87.43% of the company's stock.

AMETEK Price Performance

Shares of AME stock traded up $1.49 on Monday, hitting $179.92. 959,752 shares of the stock traded hands, compared to its average volume of 1,143,249. The firm has a market cap of $41.66 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 3.01 and a beta of 1.16. AMETEK, Inc. has a 52 week low of $141.65 and a 52 week high of $186.32. The firm has a 50 day simple moving average of $169.17 and a two-hundred day simple moving average of $168.86. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.76.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The company's revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $1.64 EPS. As a group, equities research analysts predict that AMETEK, Inc. will post 6.76 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.28 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. AMETEK's dividend payout ratio is currently 19.51%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AME shares. StockNews.com cut shares of AMETEK from a "buy" rating to a "hold" rating in a research note on Tuesday, August 6th. Wolfe Research upgraded shares of AMETEK to a "hold" rating in a research note on Wednesday, September 18th. Truist Financial lifted their price target on shares of AMETEK from $219.00 to $221.00 and gave the stock a "buy" rating in a research note on Friday. Royal Bank of Canada dropped their price target on shares of AMETEK from $216.00 to $215.00 and set an "outperform" rating on the stock in a research note on Friday, August 2nd. Finally, Robert W. Baird lifted their price target on shares of AMETEK from $166.00 to $186.00 and gave the stock a "neutral" rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, AMETEK has an average rating of "Moderate Buy" and a consensus target price of $197.86.

Insider Buying and Selling at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the sale, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.61% of the stock is currently owned by 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.