CCLA Investment Management Lowers Position in AMETEK, Inc. (NYSE:AME)

Key Points

• CCLA Investment Management has reduced its position in AMETEK by 4.7%, now holding approximately 220,274 shares valued at $37.9 million.
• AMETEK's latest earnings report showed an EPS of $1.78, exceeding analysts' expectations of $1.69, with a year-over-year revenue increase of 2.5% to $1.78 billion.
• Institutional investors own about 87.43% of AMETEK's stock, indicating strong institutional confidence in the company.

CCLA Investment Management trimmed its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,274 shares of the technology company's stock after selling 10,854 shares during the quarter. CCLA Investment Management owned approximately 0.10% of AMETEK worth $37,900,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Bank Pictet & Cie Europe AG increased its holdings in AMETEK by 23.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 183,024 shares of the technology company's stock valued at $32,992,000 after buying an additional 34,866 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of AMETEK during the 4th quarter valued at about $1,075,000. Huntington National Bank increased its stake in shares of AMETEK by 9.2% in the 4th quarter. Huntington National Bank now owns 2,237 shares of the technology company's stock valued at $403,000 after purchasing an additional 189 shares in the last quarter. ExodusPoint Capital Management LP raised its holdings in AMETEK by 76.2% in the 4th quarter. ExodusPoint Capital Management LP now owns 54,429 shares of the technology company's stock worth $9,811,000 after purchasing an additional 23,532 shares during the period. Finally, Resona Asset Management Co. Ltd. purchased a new position in AMETEK during the fourth quarter worth approximately $12,092,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Price Performance

AME stock opened at $182.18 on Friday. 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 1.63 and a quick ratio of 0.86. The firm has a market capitalization of $42.06 billion, a PE ratio of 29.34, a price-to-earnings-growth ratio of 2.73 and a beta of 1.10. The business has a 50 day simple moving average of $179.44 and a 200-day simple moving average of $176.99.

AMETEK (NYSE:AME - Get Free Report) last issued its earnings results 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 company had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $1.74 billion. During the same period in the prior year, the business earned $1.66 EPS. The firm's quarterly revenue was up 2.5% on a year-over-year basis. Equities research analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders 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 dividend on an annualized basis and a yield of 0.7%. AMETEK's payout ratio is 20.29%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Royal Bank Of Canada boosted their price objective on AMETEK from $209.00 to $212.00 and gave the company an "outperform" rating in a research report on Friday. KeyCorp boosted their price target on shares of AMETEK from $195.00 to $205.00 and gave the stock an "overweight" rating in a report on Friday. Morgan Stanley started coverage on shares of AMETEK in a report on Monday, April 14th. They set an "equal weight" rating and a $170.00 price objective on the stock. Mizuho lifted their target price on shares of AMETEK from $212.00 to $225.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Melius Research upgraded shares of AMETEK to a "hold" rating in a research report on Monday, July 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $200.18.

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.

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