Bank Pictet & Cie Europe AG Has $18.41 Million Holdings in AMETEK, Inc. (NYSE:AME)

Bank Pictet & Cie Europe AG decreased its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 41.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 106,965 shares of the technology company's stock after selling 76,059 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in AMETEK were worth $18,413,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in AMETEK during the fourth quarter valued at approximately $697,080,000. Capital World Investors lifted its position in shares of AMETEK by 70.0% during the 4th quarter. Capital World Investors now owns 5,760,017 shares of the technology company's stock worth $1,038,301,000 after buying an additional 2,371,062 shares during the period. Lazard Asset Management LLC boosted its stake in AMETEK by 393.1% in the 4th quarter. Lazard Asset Management LLC now owns 1,215,087 shares of the technology company's stock valued at $219,030,000 after buying an additional 968,661 shares in the last quarter. GAMMA Investing LLC boosted its stake in AMETEK by 18,368.3% in the 1st quarter. GAMMA Investing LLC now owns 973,280 shares of the technology company's stock valued at $167,540,000 after buying an additional 968,010 shares in the last quarter. Finally, American Century Companies Inc. grew its position in AMETEK by 240.3% in the fourth quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company's stock valued at $202,805,000 after acquiring an additional 794,473 shares during the period. 87.43% of the stock is owned by institutional investors.

AMETEK Stock Down 1.7%

AME traded down $3.02 during trading on Tuesday, hitting $175.61. The company had a trading volume of 967,913 shares, compared to its average volume of 1,289,402. The company has a market capitalization of $40.55 billion, a PE ratio of 25.74, a PEG ratio of 2.68 and a beta of 1.10. AMETEK, Inc. has a one year low of $145.02 and a one year high of $198.33. The firm's 50-day moving average price is $171.87 and its 200 day moving average price is $177.96. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.15.

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

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Friday, June 13th. AMETEK's payout ratio is 20.29%.

Insiders Place Their Bets

In related news, Director Thomas A. Amato sold 710 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $176.64, for a total transaction of $125,414.40. Following the transaction, the director now directly owns 10,560 shares of the company's stock, valued at approximately $1,865,318.40. This trade represents a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.57% of the company's stock.

Analyst Upgrades and Downgrades

AME has been the topic of a number of recent analyst reports. Robert W. Baird reduced their price target 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. Wall Street Zen upgraded AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Mizuho set a $212.00 price objective on AMETEK in a research note on Friday, May 16th. Truist Financial raised their target price on AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Morgan Stanley began coverage on AMETEK in a report on Monday, April 14th. They issued an "equal weight" rating and a $170.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AMETEK currently has a consensus rating of "Moderate Buy" and an average 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.