TIAA Trust National Association Cuts Holdings in AMETEK, Inc. (NYSE:AME)

Key Points

• TIAA Trust National Association has reduced its holdings in AMETEK, Inc. by 21.3%, now owning 26,530 shares after selling 7,176 shares in the 1st quarter.
• AMETEK's latest quarterly earnings exceeded expectations, reporting $1.78 earnings per share, beating the consensus estimate by $0.09 and showing a revenue increase of 2.5% year-over-year.
• Analyst ratings for AMETEK show a consensus of "Moderate Buy" with an average price target of $200.91, as multiple firms have raised their price targets recently.

TIAA Trust National Association trimmed its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 21.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,530 shares of the technology company's stock after selling 7,176 shares during the quarter. TIAA Trust National Association's holdings in AMETEK were worth $4,567,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in AME. FMR LLC boosted its stake in AMETEK by 1.1% during the fourth quarter. FMR LLC now owns 8,956,329 shares of the technology company's stock worth $1,614,468,000 after buying an additional 98,546 shares during the last quarter. Capital World Investors boosted its stake in AMETEK by 70.0% during the fourth 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 last quarter. Flossbach Von Storch SE lifted its stake in shares of AMETEK by 1.2% in the 1st quarter. Flossbach Von Storch SE now owns 3,770,066 shares of the technology company's stock valued at $648,979,000 after purchasing an additional 45,714 shares during the last quarter. Northern Trust Corp lifted its stake in shares of AMETEK by 16.8% in the 4th quarter. Northern Trust Corp now owns 2,375,972 shares of the technology company's stock valued at $428,293,000 after purchasing an additional 342,589 shares during the last quarter. Finally, EdgePoint Investment Group Inc. lifted its stake in shares of AMETEK by 14.6% in the 4th quarter. EdgePoint Investment Group Inc. now owns 2,250,797 shares of the technology company's stock valued at $405,729,000 after purchasing an additional 286,561 shares during the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

AMETEK Trading Up 1.1%

Shares of AME stock traded up $1.95 on Monday, hitting $184.31. The stock had a trading volume of 1,959,814 shares, compared to its average volume of 1,509,711. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.63 and a quick ratio of 1.04. The firm has a market capitalization of $42.57 billion, a P/E ratio of 29.68, a P/E/G ratio of 2.72 and a beta of 1.10. AMETEK, Inc. has a 1 year low of $145.02 and a 1 year high of $198.33. The company's 50 day moving average price is $179.44 and its 200-day moving average price is $176.96.

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

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, June 13th. This represents a $1.24 annualized dividend and a yield of 0.7%. AMETEK's dividend payout ratio is 19.97%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. KeyCorp upped their price target on AMETEK from $195.00 to $205.00 and gave the company an "overweight" rating in a research note on Friday. DA Davidson upped their price target on AMETEK from $210.00 to $215.00 and gave the company a "buy" rating in a research note on Friday. Robert W. Baird upped their price target on AMETEK from $190.00 to $198.00 and gave the company a "neutral" rating in a research note on Monday. Truist Financial upped their price target on AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Melius Research raised AMETEK to a "hold" rating in a research note on Monday, July 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $200.91.

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.