Banque Pictet & Cie SA Has $18.73 Million Stock Position in AMETEK, Inc. (NYSE:AME)

Banque Pictet & Cie SA decreased its position in AMETEK, Inc. (NYSE:AME - Free Report) by 38.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 108,790 shares of the technology company's stock after selling 68,666 shares during the period. Banque Pictet & Cie SA's holdings in AMETEK were worth $18,727,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. DAVENPORT & Co LLC lifted its stake in AMETEK by 0.8% in the first quarter. DAVENPORT & Co LLC now owns 7,125 shares of the technology company's stock valued at $1,226,000 after buying an additional 60 shares during the period. Sowell Financial Services LLC acquired a new stake in AMETEK in the first quarter worth $293,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of AMETEK by 10.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 115,194 shares of the technology company's stock valued at $19,829,000 after buying an additional 10,685 shares during the period. National Bank of Canada FI increased its position in shares of AMETEK by 17.4% in the 4th quarter. National Bank of Canada FI now owns 142,093 shares of the technology company's stock valued at $25,616,000 after buying an additional 21,009 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in AMETEK by 16.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,898 shares of the technology company's stock worth $16,025,000 after buying an additional 12,584 shares during the period. 87.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AME has been the subject of several research analyst reports. Morgan Stanley initiated coverage on AMETEK in a research report on Monday, April 14th. They issued an "equal weight" rating and a $170.00 price objective for the company. Mizuho set a $212.00 price target on AMETEK in a research note on Friday, May 16th. Truist Financial increased their price objective on AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Royal Bank Of Canada upped their price target on AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, Wall Street Zen raised shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $197.89.

AMETEK Stock Performance

Shares of AMETEK stock traded down $0.45 on Friday, hitting $180.99. The stock had a trading volume of 839,398 shares, compared to its average volume of 1,302,628. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.15. The stock has a market cap of $41.79 billion, a price-to-earnings ratio of 29.62, a price-to-earnings-growth ratio of 2.73 and a beta of 1.09. The business's 50 day moving average is $178.44 and its two-hundred day moving average is $177.07. AMETEK, Inc. has a twelve month low of $145.02 and a twelve month high of $198.33.

AMETEK (NYSE:AME - Get Free Report) last released its 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. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. AMETEK had a return on equity of 16.75% and a net margin of 20.43%. AMETEK's quarterly revenue was down .2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.64 EPS. Analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Friday, June 13th. AMETEK's dividend payout ratio is presently 20.29%.

AMETEK 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.