Boston Partners Decreases Stock Position in AMETEK, Inc. (NYSE:AME)

Key Points

• Boston Partners has reduced its stake in AMETEK, Inc. by 10.2%, now holding approximately 1.9 million shares valued at $326.8 million.
• AMETEK is set to pay a quarterly dividend of $0.31 per share on September 30th, reflecting a 0.7% yield.
• Despite the reduction by some investors, institutional ownership remains high at 87.43%, with several funds increasing their positions in recent quarters.

Boston Partners lessened its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 10.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,898,656 shares of the technology company's stock after selling 214,502 shares during the quarter. Boston Partners owned approximately 0.82% of AMETEK worth $326,754,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of AME. Vanguard Group Inc. lifted its holdings in shares of AMETEK by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 26,484,263 shares of the technology company's stock worth $4,559,001,000 after buying an additional 336,491 shares during the period. Capital World Investors lifted its stake 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 purchasing an additional 2,371,062 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of AMETEK by 2.8% during the 1st quarter. JPMorgan Chase & Co. now owns 5,747,368 shares of the technology company's stock worth $989,352,000 after purchasing an additional 154,682 shares during the last quarter. Flossbach Von Storch SE lifted its stake in shares of AMETEK by 1.2% during the 1st quarter. Flossbach Von Storch SE now owns 3,770,066 shares of the technology company's stock worth $648,979,000 after purchasing an additional 45,714 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of 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 purchasing an additional 1,947,831 shares during the last quarter. Institutional investors own 87.43% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Truist Financial upped their price objective on AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Wall Street Zen upgraded AMETEK from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Robert W. Baird upped their target price on AMETEK from $190.00 to $198.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Melius lowered AMETEK from a "buy" rating to a "hold" rating and set a $192.00 target price on the stock. in a research report on Monday, July 14th. Finally, KeyCorp upped their target price on AMETEK from $195.00 to $205.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $208.00.

AMETEK Stock Performance

AMETEK stock traded down $3.57 during midday trading on Friday, hitting $181.21. 1,556,620 shares of the company were exchanged, compared to its average volume of 1,423,472. The firm has a market capitalization of $41.85 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 2.62 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 business has a fifty day simple moving average of $180.57 and a two-hundred day simple moving average of $176.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.63.

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

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.31 per share. The ex-dividend date is Monday, September 15th. This represents a $1.24 dividend on an annualized basis and a yield of 0.7%. AMETEK's dividend payout ratio is currently 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.