ARK Investment Management LLC Has $1.27 Million Stock Holdings in AMETEK, Inc. (NYSE:AME)

Key Points

• ARK Investment Management LLC reduced its stake in AMETEK, Inc. by 16.2%, owning 7,391 shares valued at approximately $1.27 million after selling 1,432 shares in the first quarter.
• Several hedge funds modified their AMETEK holdings, with notable increases such as Golden State Wealth Management LLC expanding its stake by 201.0%.
• AMETEK's stock receives a consensus rating of "Moderate Buy" from analysts, with a target price averaging $197.30.

ARK Investment Management LLC trimmed its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 16.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,391 shares of the technology company's stock after selling 1,432 shares during the quarter. ARK Investment Management LLC's holdings in AMETEK were worth $1,272,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AME. Empirical Finance LLC raised its position in AMETEK by 2.3% in the first quarter. Empirical Finance LLC now owns 8,041 shares of the technology company's stock worth $1,384,000 after acquiring an additional 184 shares in the last quarter. TD Asset Management Inc raised its position in AMETEK by 1.7% in the first quarter. TD Asset Management Inc now owns 107,004 shares of the technology company's stock worth $18,420,000 after acquiring an additional 1,741 shares in the last quarter. HB Wealth Management LLC raised its position in AMETEK by 48.6% in the first quarter. HB Wealth Management LLC now owns 7,878 shares of the technology company's stock worth $1,356,000 after acquiring an additional 2,578 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in AMETEK by 22.3% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 55,330 shares of the technology company's stock worth $9,525,000 after acquiring an additional 10,081 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in AMETEK by 78.9% in the first quarter. Pacer Advisors Inc. now owns 80,576 shares of the technology company's stock valued at $13,870,000 after purchasing an additional 35,534 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Royal Bank Of Canada upped their target price on AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Truist Financial increased their price objective on AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Melius Research raised AMETEK to a "hold" rating in a research note on Monday, July 14th. Mizuho set a $212.00 price objective on AMETEK in a research note on Friday, May 16th. Finally, Robert W. Baird decreased their price objective on AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AMETEK presently has a consensus rating of "Moderate Buy" and an average price target of $197.30.

AMETEK Price Performance

Shares of AME traded down $1.23 during midday trading on Wednesday, reaching $177.74. The stock had a trading volume of 877,211 shares, compared to its average volume of 1,366,203. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week high of $198.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.41 and a quick ratio of 0.86. The firm's 50 day moving average price is $179.25 and its 200-day moving average price is $176.93. The company has a market capitalization of $41.04 billion, a P/E ratio of 29.09, a P/E/G ratio of 2.68 and a beta of 1.09.

AMETEK (NYSE:AME - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.69 by $0.06. AMETEK had a return on equity of 16.75% and a net margin of 20.43%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the firm earned $1.64 earnings per share. AMETEK's revenue for the quarter was down .2% compared to the same quarter last year. On average, analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Announces Dividend

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

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.