Assenagon Asset Management S.A. Cuts Stock Position in AMETEK, Inc. (NYSE:AME)

Assenagon Asset Management S.A. trimmed its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 42.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 313,949 shares of the technology company's stock after selling 227,568 shares during the quarter. Assenagon Asset Management S.A. owned 0.14% of AMETEK worth $54,043,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Banque Transatlantique SA bought a new position in AMETEK during the 4th quarter worth about $37,000. OFI Invest Asset Management acquired a new stake in AMETEK in the 4th quarter worth approximately $43,000. Minot DeBlois Advisors LLC acquired a new stake in AMETEK in the 4th quarter worth approximately $43,000. Quent Capital LLC lifted its stake in AMETEK by 60.9% during the 4th quarter. Quent Capital LLC now owns 251 shares of the technology company's stock valued at $45,000 after acquiring an additional 95 shares during the period. Finally, Ancora Advisors LLC boosted its holdings in AMETEK by 15,950.0% in the fourth quarter. Ancora Advisors LLC now owns 321 shares of the technology company's stock valued at $58,000 after purchasing an additional 319 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AME shares. Mizuho set a $212.00 price objective on shares of AMETEK in a research note on Friday, May 16th. Royal Bank of Canada boosted their price objective on AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Morgan Stanley started coverage on AMETEK in a report on Monday, April 14th. They issued an "equal weight" rating and a $170.00 price objective on the stock. Truist Financial increased their price objective on shares of AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a report on Monday, May 5th. Finally, Wall Street Zen raised shares of AMETEK from a "hold" rating to a "buy" rating in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $197.89.

AMETEK Trading Down 0.6%

Shares of AME stock traded down $1.15 on Thursday, hitting $179.75. The stock had a trading volume of 1,042,232 shares, compared to its average volume of 1,291,380. The firm has a market capitalization of $41.50 billion, a P/E ratio of 30.31, a P/E/G ratio of 2.73 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 has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75. The company's 50 day moving average price is $170.28 and its 200-day moving average price is $178.57.

AMETEK (NYSE:AME - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.06. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The business had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.74 billion. During the same quarter in the prior year, the company earned $1.64 earnings per share. The business's quarterly revenue was down .2% on a year-over-year basis. Analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Friday, June 13th. AMETEK's dividend payout ratio (DPR) is 20.29%.

Insider Activity at AMETEK

In other news, Director Thomas A. Amato sold 710 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total transaction of $125,414.40. Following the completion of the sale, the director now owns 10,560 shares in the company, valued at approximately $1,865,318.40. The trade was a 6.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is currently owned by corporate insiders.

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.