Aigen Investment Management LP Reduces Stock Holdings in AMETEK, Inc. (NYSE:AME)

Key Points

• Aigen Investment Management LP reduced its stake in AMETEK, Inc. by 33.4%, selling 2,592 shares and now holding 5,176 shares worth $891,000 as of the latest SEC filing.
• AMETEK recently received positive upgrades from several analysts, with KeyCorp raising its price target to $205.00 and a consensus price target of $208.00 across multiple firms.
• The company announced a quarterly dividend of $0.31 per share, with a dividend yield of 0.7% and a payout ratio of 19.97%.

Aigen Investment Management LP decreased its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 33.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,176 shares of the technology company's stock after selling 2,592 shares during the quarter. Aigen Investment Management LP's holdings in AMETEK were worth $891,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AME. Capital World Investors raised its holdings in AMETEK by 70.0% in the fourth quarter. Capital World Investors now owns 5,760,017 shares of the technology company's stock worth $1,038,301,000 after purchasing an additional 2,371,062 shares in the last quarter. Invesco Ltd. raised its position in AMETEK by 127.2% during the 1st quarter. Invesco Ltd. now owns 3,479,397 shares of the technology company's stock worth $598,943,000 after buying an additional 1,947,831 shares during the last quarter. Lazard Asset Management LLC raised its position in AMETEK by 393.1% during the 4th quarter. Lazard Asset Management LLC now owns 1,215,087 shares of the technology company's stock worth $219,030,000 after buying an additional 968,661 shares during the last quarter. GAMMA Investing LLC raised its position in AMETEK by 18,368.3% during the 1st quarter. GAMMA Investing LLC now owns 973,280 shares of the technology company's stock worth $167,540,000 after buying an additional 968,010 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA purchased a new position in AMETEK during the 1st quarter worth approximately $113,317,000. Hedge funds and other institutional investors own 87.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AME shares. Morgan Stanley raised their price objective on shares of AMETEK from $185.00 to $198.00 and gave the stock an "equal weight" rating in a research note on Friday, August 8th. Melius Research raised shares of AMETEK to a "hold" rating in a research note on Monday, July 14th. Royal Bank Of Canada lifted their price target on shares of AMETEK from $209.00 to $212.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Robert W. Baird lifted their price target on shares of AMETEK from $190.00 to $198.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. Finally, Mizuho lifted their price target on shares of AMETEK from $212.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $208.00.

AMETEK Price Performance

Shares of AME traded down $3.57 during trading hours on Friday, reaching $181.21. 1,556,620 shares of the company traded hands, compared to its average volume of 1,423,472. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $41.85 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. AMETEK, Inc. has a fifty-two week low of $145.02 and a fifty-two week high of $198.33. The stock has a fifty day simple moving average of $180.57 and a 200 day simple moving average of $176.99.

AMETEK (NYSE:AME - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.69 by $0.09. AMETEK had a return on equity of 16.53% and a net margin of 20.60%. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the company earned $1.66 EPS. The firm's quarterly revenue was up 2.5% on a year-over-year basis. As a group, research analysts predict that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, September 15th. AMETEK's dividend payout ratio (DPR) is 19.97%.

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.