Millennium Management LLC Reduces Holdings in AMETEK, Inc. $AME

Key Points

• Millennium Management LLC reduced its stake in AMETEK, Inc. by 15.1%, owning 423,415 shares after selling 75,476 shares in the first quarter, reflecting a 0.18% ownership valued at approximately $72.9 million.
• Several institutional investors have entered new positions in AMETEK, with hedge funds and other institutions holding 87.43% of the company’s stock.
• AMETEK announced a quarterly dividend of $0.31 per share, with an expected payment date of September 30, 2023, reflecting an annualized yield of 0.7%.

Millennium Management LLC decreased its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 15.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 423,415 shares of the technology company's stock after selling 75,476 shares during the period. Millennium Management LLC owned about 0.18% of AMETEK worth $72,887,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bank Pictet & Cie Europe AG grew its holdings in shares of AMETEK by 23.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 183,024 shares of the technology company's stock valued at $32,992,000 after purchasing an additional 34,866 shares during the last quarter. Baird Financial Group Inc. grew its holdings in shares of AMETEK by 14.3% during the 4th quarter. Baird Financial Group Inc. now owns 18,056 shares of the technology company's stock valued at $3,255,000 after purchasing an additional 2,256 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of AMETEK by 7.2% during the 4th quarter. Captrust Financial Advisors now owns 8,782 shares of the technology company's stock valued at $1,583,000 after purchasing an additional 592 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of AMETEK by 91.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 52,842 shares of the technology company's stock valued at $9,525,000 after purchasing an additional 25,238 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of AMETEK by 1,230.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 235,910 shares of the technology company's stock valued at $42,525,000 after purchasing an additional 218,185 shares during the last quarter. Institutional investors own 87.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AME shares. TD Cowen raised shares of AMETEK from a "sell" rating to a "hold" rating and increased their price target for the company from $158.00 to $180.00 in a research report on Tuesday, September 2nd. KeyCorp increased their price target on shares of AMETEK from $195.00 to $205.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Robert W. Baird increased their price target on shares of AMETEK from $190.00 to $198.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Royal Bank Of Canada increased their price target on shares of AMETEK from $209.00 to $212.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Finally, DA Davidson increased their price target on shares of AMETEK from $210.00 to $215.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $205.00.

AMETEK Trading Up 2.5%

Shares of NYSE:AME traded up $4.66 on Thursday, hitting $192.07. The company had a trading volume of 692,517 shares, compared to its average volume of 1,349,122. The firm's 50-day simple moving average is $182.98 and its two-hundred day simple moving average is $177.14. AMETEK, Inc. has a 1 year low of $145.02 and a 1 year high of $198.33. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $44.36 billion, a price-to-earnings ratio of 30.93, a P/E/G ratio of 2.70 and a beta of 1.10.

AMETEK (NYSE:AME - Get Free Report) last posted its earnings results on Thursday, July 31st. The technology company reported $1.78 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $1.74 billion. During the same period last year, the company posted $1.66 EPS. The company's quarterly revenue was up 2.5% compared to the same quarter last year. AMETEK has set its Q3 2025 guidance at 1.720-1.760 EPS. FY 2025 guidance at 7.060-7.200 EPS. Equities analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, September 15th. AMETEK's dividend payout ratio (DPR) is 19.97%.

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.