Mediolanum International Funds Ltd Sells 18,392 Shares of AMETEK, Inc. (NYSE:AME)

Key Points

• Mediolanum International Funds Ltd reduced its stake in AMETEK by 17.6%, selling 18,392 shares and holding 86,252 shares worth about $14.7 million at the quarter's end.
• AMETEK's stock is currently rated as a "Moderate Buy" with an average target price of $197.30 following various analyst ratings updates.
• The company recently declared a quarterly dividend of $0.31, yielding approximately 0.69% with a payout ratio of 20.29%.

Mediolanum International Funds Ltd lowered its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 17.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,252 shares of the technology company's stock after selling 18,392 shares during the quarter. Mediolanum International Funds Ltd's holdings in AMETEK were worth $14,696,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its stake in AMETEK by 1.1% in the fourth quarter. FMR LLC now owns 8,956,329 shares of the technology company's stock valued at $1,614,468,000 after purchasing an additional 98,546 shares in the last quarter. Capital World Investors lifted its stake in AMETEK by 70.0% in the fourth quarter. Capital World Investors now owns 5,760,017 shares of the technology company's stock valued at $1,038,301,000 after acquiring an additional 2,371,062 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of AMETEK by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 5,526,369 shares of the technology company's stock worth $993,546,000 after buying an additional 124,713 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 buying an additional 45,714 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of AMETEK by 16.8% during the 4th quarter. Northern Trust Corp now owns 2,375,972 shares of the technology company's stock worth $428,293,000 after buying an additional 342,589 shares during the last quarter. Institutional investors own 87.43% of the company's stock.

AMETEK Price Performance

Shares of AMETEK stock traded down $1.24 on Wednesday, reaching $177.72. The stock had a trading volume of 691,893 shares, compared to its average volume of 1,365,013. AMETEK, Inc. has a 1 year low of $145.02 and a 1 year high of $198.33. The company has a market cap of $41.03 billion, a P/E ratio of 29.07, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The business's 50 day moving average is $179.25 and its two-hundred day moving average is $176.93.

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

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Friday, June 13th. AMETEK's dividend payout ratio (DPR) is presently 20.29%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Royal Bank Of Canada lifted their price objective on shares of AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Wall Street Zen raised shares of AMETEK from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Morgan Stanley assumed coverage on shares of AMETEK in a report on Monday, April 14th. They set an "equal weight" rating and a $170.00 price target on the stock. Melius Research raised shares of AMETEK to a "hold" rating in a report on Monday, July 14th. Finally, Melius downgraded shares of 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $197.30.

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.