Mirabaud & Cie SA Sells 3,575 Shares of AMETEK, Inc. (NYSE:AME)

Key Points

• Mirabaud & Cie SA reduced its stake in AMETEK, Inc. by 24.9%, holding 10,800 shares valued at approximately $1.86 million after selling 3,575 shares in the first quarter.
• Hedge funds currently own 87.43% of AMETEK's stock, with several institutions, such as Bank Pictet & Cie Europe AG, increasing their holdings significantly during the fourth quarter.
• Analysts have mixed ratings on AMETEK, with price targets ranging from $170.00 to $225.00, while the stock currently has a consensus rating of "Moderate Buy."

Mirabaud & Cie SA reduced its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 24.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,800 shares of the technology company's stock after selling 3,575 shares during the period. AMETEK accounts for 0.6% of Mirabaud & Cie SA's portfolio, making the stock its 29th biggest holding. Mirabaud & Cie SA's holdings in AMETEK were worth $1,859,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Olde Wealth Management LLC purchased a new position in shares of AMETEK in the 1st quarter valued at $29,000. Banque Transatlantique SA acquired a new stake in AMETEK in the 4th quarter valued at $37,000. Minot DeBlois Advisors LLC acquired a new position in AMETEK during the fourth quarter worth about $43,000. N.E.W. Advisory Services LLC acquired a new stake in shares of AMETEK during the 1st quarter worth approximately $48,000. Finally, Golden State Wealth Management LLC raised its position in AMETEK by 201.0% in the first quarter. Golden State Wealth Management LLC now owns 295 shares of the technology company's stock valued at $51,000 after purchasing an additional 197 shares during the period. 87.43% of the stock is currently owned by institutional investors.

AMETEK Stock Performance

Shares of AME stock traded up $1.95 on Monday, reaching $184.31. The stock had a trading volume of 1,959,814 shares, compared to its average volume of 1,509,711. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a 12 month low of $145.02 and a 12 month high of $198.33. The firm's 50-day moving average is $179.44 and its two-hundred day moving average is $176.96. The firm has a market capitalization of $42.57 billion, a price-to-earnings ratio of 29.68, a P/E/G ratio of 2.72 and a beta of 1.10.

AMETEK (NYSE:AME - Get Free Report) last issued 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 return on equity of 16.53% and a net margin of 20.60%. The business had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $1.74 billion. During the same period in the previous year, the company posted $1.66 earnings per share. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. On average, research analysts expect that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, June 13th. AMETEK's payout ratio is presently 19.97%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AME shares. Morgan Stanley assumed coverage on shares of AMETEK in a report on Monday, April 14th. They issued an "equal weight" rating and a $170.00 target price on the stock. Wall Street Zen raised AMETEK from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Melius lowered AMETEK from a "buy" rating to a "hold" rating and set a $192.00 target price for the company. in a research note on Monday, July 14th. Melius Research upgraded shares of AMETEK to a "hold" rating in a report on Monday, July 14th. Finally, Mizuho raised their price target on shares of AMETEK from $212.00 to $225.00 and gave the company an "outperform" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, AMETEK has an average rating of "Moderate Buy" and a consensus price target of $200.91.

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.