AMETEK, Inc. (NYSE:AME) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden has reduced its stake in AMETEK, Inc. by 7.4%, owning 44,100 shares valued at approximately $7.59 million after selling 3,500 shares in the first quarter.
• Vanguard Group Inc. increased its stake in AMETEK by 1.3% during the same period, owning over 26 million shares valued at about $4.56 billion, reflecting significant institutional investment in the company.
• AMETEK recently announced a quarterly dividend of $0.31 per share, representing a yield of 0.7%, and reported a 2.5% year-over-year revenue increase with earnings beating analyst estimates.

Forsta AP Fonden trimmed its position in AMETEK, Inc. (NYSE:AME - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,100 shares of the technology company's stock after selling 3,500 shares during the period. Forsta AP Fonden's holdings in AMETEK were worth $7,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in AMETEK by 1.3% in the first quarter. Vanguard Group Inc. now owns 26,484,263 shares of the technology company's stock valued at $4,559,001,000 after purchasing an additional 336,491 shares during the last quarter. Capital World Investors grew its position in AMETEK by 70.0% during the 4th quarter. Capital World Investors now owns 5,760,017 shares of the technology company's stock worth $1,038,301,000 after purchasing an additional 2,371,062 shares during the period. Flossbach Von Storch SE grew its position in AMETEK by 1.2% during the 1st quarter. Flossbach Von Storch SE now owns 3,770,066 shares of the technology company's stock worth $648,979,000 after purchasing an additional 45,714 shares during the period. Northern Trust Corp grew its position in AMETEK by 16.8% during the 4th quarter. Northern Trust Corp now owns 2,375,972 shares of the technology company's stock worth $428,293,000 after purchasing an additional 342,589 shares during the period. Finally, EdgePoint Investment Group Inc. grew its position in AMETEK by 14.6% during the 4th quarter. EdgePoint Investment Group Inc. now owns 2,250,797 shares of the technology company's stock worth $405,729,000 after purchasing an additional 286,561 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Trading Up 1.3%

Shares of NYSE AME traded up $2.46 during midday trading on Tuesday, reaching $184.98. 1,050,754 shares of the stock were exchanged, compared to its average volume of 1,498,858. The company has a 50 day simple moving average of $180.16 and a 200 day simple moving average of $176.93. The stock has a market capitalization of $42.72 billion, a P/E ratio of 29.79, a PEG ratio of 2.63 and a beta of 1.10. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.63. 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 announced its quarterly earnings results on Thursday, July 31st. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.69 by $0.09. AMETEK had a net margin of 20.60% and a return on equity of 16.53%. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the firm earned $1.66 EPS. The business's revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, September 15th. AMETEK's dividend payout ratio (DPR) is 19.97%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Melius Research upgraded AMETEK to a "hold" rating in a research report on Monday, July 14th. Morgan Stanley raised their target price on AMETEK from $185.00 to $198.00 and gave the company an "equal weight" rating in a research report on Friday. KeyCorp raised their price target on shares of AMETEK from $195.00 to $205.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Royal Bank Of Canada raised their price target on shares of AMETEK from $209.00 to $212.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, Melius lowered shares of AMETEK from a "buy" rating to a "hold" rating and set a $192.00 price target on the stock. in a research note on Monday, July 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $208.00.

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.