Amundi Cuts Position in AMETEK, Inc. $AME

Key Points

• Amundi cut its AMETEK stake by 28.6% in the first quarter, selling 502,267 shares and retaining 1.25 million shares worth approximately $268.7 million. Institutional investors collectively own 87.43% of the company.
• Wall Street remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $256.29; targets range from $244 to $303.
• AMETEK recently exceeded quarterly expectations, reporting $1.97 in EPS versus $1.90 expected and $1.93 billion in revenue. The company also pays a quarterly dividend of $0.34, representing a 0.6% annualized yield.

Amundi decreased its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 28.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,253,439 shares of the technology company's stock after selling 502,267 shares during the period. Amundi owned 0.55% of AMETEK worth $268,687,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AME. Sivia Capital Partners LLC purchased a new stake in shares of AMETEK in the second quarter worth $295,000. Baird Financial Group Inc. increased its holdings in shares of AMETEK by 16.1% during the second quarter. Baird Financial Group Inc. now owns 16,784 shares of the technology company's stock valued at $3,037,000 after acquiring an additional 2,323 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of AMETEK by 65.0% in the 2nd quarter. NewEdge Advisors LLC now owns 3,946 shares of the technology company's stock worth $714,000 after purchasing an additional 1,555 shares during the last quarter. Sei Investments Co. boosted its stake in AMETEK by 38.2% in the 2nd quarter. Sei Investments Co. now owns 223,227 shares of the technology company's stock worth $40,392,000 after purchasing an additional 61,672 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its stake in AMETEK by 105.3% in the 2nd quarter. Squarepoint Ops LLC now owns 158,274 shares of the technology company's stock worth $28,641,000 after purchasing an additional 81,178 shares in the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AME. Robert W. Baird set a $244.00 price objective on shares of AMETEK in a research note on Friday, May 1st. DA Davidson reiterated a "buy" rating and issued a $265.00 target price on shares of AMETEK in a research note on Monday, May 4th. Rothschild & Co Redburn set a $265.00 price target on shares of AMETEK in a report on Thursday, June 18th. Truist Financial raised their price target on shares of AMETEK from $275.00 to $303.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. Finally, Citigroup assumed coverage on shares of AMETEK in a report on Monday, June 15th. They issued a "neutral" rating and a $257.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, AMETEK presently has a consensus rating of "Moderate Buy" and an average target price of $256.29.

AMETEK Price Performance

Shares of NYSE:AME opened at $239.93 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.72 and a current ratio of 1.14. The firm has a market cap of $54.99 billion, a price-to-earnings ratio of 36.24, a price-to-earnings-growth ratio of 3.30 and a beta of 0.99. The business has a 50-day simple moving average of $233.22 and a two-hundred day simple moving average of $228.42. AMETEK, Inc. has a fifty-two week low of $179.24 and a fifty-two week high of $244.71.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $1.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.90 by $0.07. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.91 billion. AMETEK had a net margin of 20.11% and a return on equity of 16.63%. The business's quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.75 EPS. On average, analysts expect that AMETEK, Inc. will post 8.14 earnings per share for the current year.

AMETEK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 15th. AMETEK's payout ratio is 20.54%.

About AMETEK

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.

The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.

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