Headlands Technologies LLC Lowers Position in AMETEK, Inc. (NYSE:AME)

Key Points

• Headlands Technologies LLC reduced its holdings in AMETEK, Inc. by 68.7%, selling 12,725 shares during the first quarter, which valued their remaining stake at approximately $998,000.
• Several institutional investors have made notable changes to their positions in AMETEK, with APG Asset Management increasing its stake by 573.4% in the last quarter.
• AMETEK reported an EPS of $1.78 for the last quarter, exceeding analysts' expectations, while quarterly revenue grew by 2.5% year-over-year, reaching $1.78 billion.

Headlands Technologies LLC trimmed its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 68.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,795 shares of the technology company's stock after selling 12,725 shares during the quarter. Headlands Technologies LLC's holdings in AMETEK were worth $998,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Banco Santander S.A. increased its position in shares of AMETEK by 20.8% in the first quarter. Banco Santander S.A. now owns 45,365 shares of the technology company's stock worth $7,809,000 after acquiring an additional 7,799 shares in the last quarter. M.D. Sass LLC grew its position in AMETEK by 2.1% during the first quarter. M.D. Sass LLC now owns 366,994 shares of the technology company's stock valued at $63,174,000 after purchasing an additional 7,666 shares in the last quarter. DAVENPORT & Co LLC grew its position in AMETEK by 0.8% during the first quarter. DAVENPORT & Co LLC now owns 7,125 shares of the technology company's stock valued at $1,226,000 after purchasing an additional 60 shares in the last quarter. Raiffeisen Bank International AG grew its position in AMETEK by 16.5% during the first quarter. Raiffeisen Bank International AG now owns 44,647 shares of the technology company's stock valued at $7,607,000 after purchasing an additional 6,318 shares in the last quarter. Finally, Sowell Financial Services LLC purchased a new position in AMETEK during the first quarter valued at approximately $293,000. 87.43% of the stock is currently owned by institutional investors.

AMETEK Stock Down 0.2%

Shares of NYSE:AME traded down $0.30 on Friday, hitting $181.94. 814,828 shares of the company traded hands, compared to its average volume of 1,530,621. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week high of $198.33. The stock has a 50 day simple moving average of $179.90 and a 200-day simple moving average of $177.01. The company has a market cap of $42.02 billion, a PE ratio of 29.30, a PEG ratio of 2.63 and a beta of 1.10. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.15.

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

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 0.7%. AMETEK's dividend payout ratio is presently 19.97%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Melius Research raised shares of AMETEK to a "hold" rating in a research report on Monday, July 14th. Royal Bank Of Canada upped their price objective on shares of AMETEK from $209.00 to $212.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Robert W. Baird upped their price objective on shares of AMETEK from $190.00 to $198.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. Morgan Stanley upped their price objective on shares of AMETEK from $185.00 to $198.00 and gave the stock an "equal weight" rating in a report on Friday. Finally, Wall Street Zen raised shares of AMETEK from a "hold" rating to a "buy" rating in a report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $208.00.

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.