AMETEK, Inc. (NYSE:AME) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management lowered its position in AMETEK, Inc. (NYSE:AME - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,681 shares of the technology company's stock after selling 2,018 shares during the quarter. AMETEK makes up about 1.0% of Meritage Portfolio Management's portfolio, making the stock its 18th biggest position. Meritage Portfolio Management's holdings in AMETEK were worth $15,782,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Banque Transatlantique SA purchased a new stake in shares of AMETEK in the 4th quarter worth approximately $37,000. Minot DeBlois Advisors LLC bought a new position in AMETEK in the fourth quarter worth approximately $43,000. OFI Invest Asset Management purchased a new stake in AMETEK during the fourth quarter worth $43,000. Golden State Wealth Management LLC increased its holdings in shares of AMETEK by 201.0% in the 1st quarter. Golden State Wealth Management LLC now owns 295 shares of the technology company's stock valued at $51,000 after acquiring an additional 197 shares during the period. Finally, Ancora Advisors LLC increased its holdings in shares of AMETEK by 15,950.0% in the 4th quarter. Ancora Advisors LLC now owns 321 shares of the technology company's stock valued at $58,000 after acquiring an additional 319 shares during the period. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

AMETEK Stock Performance

AME traded up $2.20 during trading on Thursday, reaching $184.19. 719,336 shares of the company's stock were exchanged, compared to its average volume of 1,301,780. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.41 and a quick ratio of 0.86. AMETEK, Inc. has a 1 year low of $145.02 and a 1 year high of $198.33. The company's fifty day simple moving average is $176.62 and its 200-day simple moving average is $177.13. The stock has a market capitalization of $42.53 billion, a P/E ratio of 30.15, a price-to-earnings-growth ratio of 2.73 and a beta of 1.09.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $1.73 billion during the quarter, compared to analysts' expectations 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 earned $1.64 earnings per share. As a group, research analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.67%. AMETEK's dividend payout ratio (DPR) is currently 20.29%.

Analyst Ratings Changes

Several research firms have issued reports on AME. Truist Financial lifted 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. Wall Street Zen raised shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Morgan Stanley began coverage on shares of AMETEK in a research report on Monday, April 14th. They set an "equal weight" rating and a $170.00 target price for the company. Robert W. Baird lowered their price objective on AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Finally, Mizuho set a $212.00 target price on AMETEK in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AMETEK has an average rating of "Moderate Buy" and an average price target of $197.89.

About AMETEK

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.