AMETEK, Inc. (NYSE:AME) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in AMETEK, Inc. (NYSE:AME - Free Report) by 8.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,062,194 shares of the technology company's stock after selling 353,314 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.76% of AMETEK worth $699,266,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC grew its position in shares of AMETEK by 0.8% during the first quarter. DAVENPORT & Co LLC now owns 7,125 shares of the technology company's stock worth $1,226,000 after acquiring an additional 60 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in AMETEK during the 1st quarter worth $293,000. Wealth Enhancement Advisory Services LLC grew its position in AMETEK by 10.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 115,194 shares of the technology company's stock worth $19,829,000 after purchasing an additional 10,685 shares during the last quarter. National Bank of Canada FI grew its position in AMETEK by 17.4% during the 4th quarter. National Bank of Canada FI now owns 142,093 shares of the technology company's stock worth $25,616,000 after purchasing an additional 21,009 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of AMETEK by 16.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,898 shares of the technology company's stock valued at $16,025,000 after buying an additional 12,584 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

AMETEK Price Performance

AME traded down $1.89 on Monday, hitting $182.30. 1,558,780 shares of the company were exchanged, compared to its average volume of 1,304,864. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.41. The business's fifty day moving average is $177.30 and its 200 day moving average is $177.02. AMETEK, Inc. has a fifty-two week low of $145.02 and a fifty-two week high of $198.33. The firm has a market capitalization of $42.09 billion, a P/E ratio of 29.84, a price-to-earnings-growth ratio of 2.76 and a beta of 1.09.

AMETEK (NYSE:AME - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.06. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a return on equity of 16.75% and a net margin of 20.43%. AMETEK's quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the business posted $1.64 EPS. As a group, sell-side analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $0.31 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.24 annualized dividend and a dividend yield of 0.68%. AMETEK's dividend payout ratio is presently 20.29%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AME. Truist Financial raised their price target on AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Mizuho set a $212.00 target price on AMETEK in a report on Friday, May 16th. Morgan Stanley initiated coverage on AMETEK in a research note on Monday, April 14th. They set an "equal weight" rating and a $170.00 price target for the company. Robert W. Baird lowered their price objective on shares of AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Finally, Royal Bank Of Canada upped their price objective on shares of AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AMETEK presently has an average rating of "Moderate Buy" and a consensus target price of $197.89.

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.