Mawer Investment Management Ltd. Sells 73,868 Shares of AMETEK, Inc. (NYSE:AME)

Key Points

• Mawer Investment Management Ltd. has reduced its stake in AMETEK, Inc. by 17.9%, now holding 339,434 shares, worth approximately $58.4 million.
• Several institutional investors have increased their holdings in AMETEK, with Schroder Investment Management Group enhancing its stake by a significant 377.6%.
• AMETEK recently announced a quarterly dividend of $0.31 per share, leading to an annualized dividend yield of 0.69%, with a payout ratio of 20.29%.

Mawer Investment Management Ltd. cut its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 17.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 339,434 shares of the technology company's stock after selling 73,868 shares during the period. Mawer Investment Management Ltd. owned about 0.15% of AMETEK worth $58,430,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. FMR LLC increased its holdings in AMETEK by 1.1% during the 4th quarter. FMR LLC now owns 8,956,329 shares of the technology company's stock valued at $1,614,468,000 after purchasing an additional 98,546 shares in the last quarter. Capital World Investors boosted its position in AMETEK by 70.0% in the 4th quarter. Capital World Investors now owns 5,760,017 shares of the technology company's stock valued at $1,038,301,000 after buying an additional 2,371,062 shares during the last quarter. Geode Capital Management LLC boosted its position in AMETEK by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 5,526,369 shares of the technology company's stock valued at $993,546,000 after buying an additional 124,713 shares during the last quarter. Flossbach Von Storch SE boosted its position in AMETEK by 1.2% in the 1st quarter. Flossbach Von Storch SE now owns 3,770,066 shares of the technology company's stock valued at $648,979,000 after buying an additional 45,714 shares during the last quarter. Finally, Northern Trust Corp boosted its position in AMETEK by 16.8% in the 4th quarter. Northern Trust Corp now owns 2,375,972 shares of the technology company's stock valued at $428,293,000 after buying an additional 342,589 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Stock Performance

AMETEK stock traded down $2.74 during midday trading on Friday, reaching $182.11. 1,094,877 shares of the company's stock were exchanged, compared to its average volume of 1,386,281. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week high of $198.33. The firm has a market cap of $42.05 billion, a price-to-earnings ratio of 29.81, a P/E/G ratio of 2.65 and a beta of 1.09. The stock's 50-day simple moving average is $179.35 and its 200 day simple moving average is $176.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.41.

AMETEK (NYSE:AME - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $1.74 billion. AMETEK had a return on equity of 16.75% and a net margin of 20.43%. The business's revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.66 earnings per share. On average, analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, June 13th. AMETEK's payout ratio is 20.29%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AME. Wall Street Zen upgraded AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Melius Research upgraded AMETEK to a "hold" rating in a research report on Monday, July 14th. Morgan Stanley assumed coverage on AMETEK in a report on Monday, April 14th. They set an "equal weight" rating and a $170.00 target price on the stock. KeyCorp lifted their target price on AMETEK from $195.00 to $205.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Royal Bank Of Canada lifted their target price on AMETEK from $209.00 to $212.00 and gave the stock an "outperform" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $198.70.

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.