Jennison Associates LLC Sells 30,667 Shares of AMETEK, Inc. (NYSE:AME)

Jennison Associates LLC reduced its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 318,785 shares of the technology company's stock after selling 30,667 shares during the period. Jennison Associates LLC owned approximately 0.14% of AMETEK worth $54,876,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC lifted its holdings in AMETEK by 0.8% during the 1st quarter. DAVENPORT & Co LLC now owns 7,125 shares of the technology company's stock worth $1,226,000 after buying an additional 60 shares during the period. Alps Advisors Inc. lifted its holdings in AMETEK by 1.0% during the 1st quarter. Alps Advisors Inc. now owns 6,260 shares of the technology company's stock worth $1,078,000 after buying an additional 60 shares during the period. EWA LLC lifted its holdings in AMETEK by 4.9% during the 1st quarter. EWA LLC now owns 1,382 shares of the technology company's stock worth $238,000 after buying an additional 65 shares during the period. Signaturefd LLC lifted its holdings in AMETEK by 1.5% during the 1st quarter. Signaturefd LLC now owns 4,625 shares of the technology company's stock worth $796,000 after buying an additional 67 shares during the period. Finally, Legacy Advisors LLC lifted its holdings in AMETEK by 4.8% during the 1st quarter. Legacy Advisors LLC now owns 1,669 shares of the technology company's stock worth $287,000 after buying an additional 76 shares during the period. Institutional investors own 87.43% of the company's stock.

Analysts Set New Price Targets

AME has been the subject of a number of research analyst reports. Wall Street Zen raised AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Robert W. Baird reduced their target price on AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Truist Financial upped their target price on AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a report on Monday, May 5th. Melius lowered AMETEK from a "buy" rating to a "hold" rating and set a $192.00 target price for the company. in a report on Monday, July 14th. Finally, Mizuho set a $212.00 target price on AMETEK in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, five 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 data from MarketBeat.com, AMETEK presently has an average rating of "Moderate Buy" and an average target price of $197.30.

AMETEK Stock Down 0.6%

AMETEK stock traded down $1.15 during trading hours on Friday, hitting $178.55. 1,011,971 shares of the stock traded hands, compared to its average volume of 1,310,117. The firm's 50-day moving average price is $179.43 and its two-hundred day moving average price is $176.88. AMETEK, Inc. has a one year low of $145.02 and a one year high of $198.33. The company has a market cap of $41.22 billion, a PE ratio of 29.22, a PEG ratio of 2.68 and a beta of 1.09. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15.

AMETEK (NYSE:AME - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share for the quarter, beating analysts' consensus estimates of $1.69 by $0.06. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. The company's quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.64 EPS. On average, research analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Dividend Announcement

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

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.