Gulf International Bank UK Ltd Has $2.19 Million Stock Position in AMETEK, Inc. $AME

Key Points

• Gulf International Bank UK Ltd has reduced its stakes in AMETEK, Inc. by 29.5%, owning a total of 12,726 shares valued at approximately $2.19 million after selling 5,315 shares in the first quarter.
• AMETEK recently reported earnings per share (EPS) of $1.78 for the last quarter, which surpassed analysts' expectations by $0.09, indicating a 2.5% increase in revenue year-over-year.
• The company will issue a quarterly dividend of $0.31 per share, to be paid on September 30th, representing a 0.7% dividend yield and a payout ratio of approximately 20%.

Gulf International Bank UK Ltd cut its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 29.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,726 shares of the technology company's stock after selling 5,315 shares during the period. Gulf International Bank UK Ltd's holdings in AMETEK were worth $2,190,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AME. Olde Wealth Management LLC bought a new position in shares of AMETEK in the first quarter worth $29,000. Annis Gardner Whiting Capital Advisors LLC lifted its stake in AMETEK by 57.7% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 194 shares of the technology company's stock worth $33,000 after purchasing an additional 71 shares during the last quarter. Banque Transatlantique SA purchased a new position in shares of AMETEK in the fourth quarter worth about $37,000. Zions Bancorporation National Association UT purchased a new position in shares of AMETEK in the first quarter worth about $42,000. Finally, Minot DeBlois Advisors LLC purchased a new position in AMETEK during the 4th quarter valued at about $43,000. 87.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Truist Financial boosted their price target on AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Morgan Stanley increased their price target on AMETEK from $185.00 to $198.00 and gave the stock an "equal weight" rating in a research note on Friday, August 8th. Melius Research upgraded AMETEK to a "hold" rating in a research report on Monday, July 14th. KeyCorp raised their price objective on shares of AMETEK from $195.00 to $205.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada raised their target price on shares of AMETEK from $209.00 to $212.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, AMETEK has an average rating of "Moderate Buy" and an average price target of $208.00.

AMETEK Trading Up 0.7%

AME stock traded up $1.27 on Monday, hitting $182.63. 1,753,388 shares of the company were exchanged, compared to its average volume of 1,376,526. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.63 and a quick ratio of 1.04. AMETEK, Inc. has a twelve month low of $145.02 and a twelve month high of $198.33. The business's fifty day moving average is $180.57 and its two-hundred day moving average is $176.89. The stock has a market capitalization of $42.18 billion, a price-to-earnings ratio of 29.41, a price-to-earnings-growth ratio of 2.61 and a beta of 1.10.

AMETEK (NYSE:AME - Get Free Report) last posted its quarterly 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 net margin of 20.60% and a return on equity of 16.53%. The firm had revenue of $1.78 billion for the quarter, compared to analysts' expectations of $1.74 billion. During the same period in the prior year, the company posted $1.66 earnings per share. The firm's quarterly revenue was up 2.5% on a year-over-year basis. As a group, research analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Dividend Announcement

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

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.