AMETEK, Inc. (NYSE:AME) Shares Sold by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC reduced its stake in AMETEK by 2.9%, selling 24,324 shares in the first quarter, leaving them with approximately 810,099 shares valued at $139.45 million.
• AMETEK recently announced a quarterly dividend of $0.31 per share, which will be paid on September 30th, representing an annualized yield of 0.7%.
• Key analyst upgrades have increased AMETEK's price target to as high as $225.00, with a consensus rating of "Moderate Buy" and a price target of $208.00.

Neuberger Berman Group LLC lessened its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 2.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 810,099 shares of the technology company's stock after selling 24,324 shares during the quarter. Neuberger Berman Group LLC owned 0.35% of AMETEK worth $139,450,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in AME. Tokio Marine Asset Management Co. Ltd. lifted its stake in AMETEK by 7.8% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 47,966 shares of the technology company's stock worth $8,257,000 after purchasing an additional 3,479 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in AMETEK in the first quarter valued at approximately $59,000. National Pension Service lifted its stake in AMETEK by 11.1% in the first quarter. National Pension Service now owns 303,672 shares of the technology company's stock valued at $52,274,000 after buying an additional 30,303 shares during the last quarter. LGT Group Foundation lifted its stake in AMETEK by 18.9% in the first quarter. LGT Group Foundation now owns 122,068 shares of the technology company's stock valued at $21,013,000 after buying an additional 19,368 shares during the last quarter. Finally, LGT Fund Management Co Ltd. lifted its stake in AMETEK by 13.9% in the first quarter. LGT Fund Management Co Ltd. now owns 32,000 shares of the technology company's stock valued at $5,508,000 after buying an additional 3,905 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

AMETEK Price Performance

NYSE:AME traded down $3.57 during trading hours on Friday, hitting $181.21. The company's stock had a trading volume of 1,556,620 shares, compared to its average volume of 1,423,472. The business's 50-day moving average is $180.57 and its two-hundred day moving average is $176.95. The company has a market capitalization of $41.85 billion, a PE ratio of 29.18, a PEG ratio of 2.62 and a beta of 1.10. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.63. AMETEK, Inc. has a 52-week low of $145.02 and a 52-week high of $198.33.

AMETEK (NYSE:AME - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.09. The firm had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $1.74 billion. AMETEK had a return on equity of 16.53% and a net margin of 20.60%. AMETEK's revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.66 earnings per share. As a group, research analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Announces Dividend

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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.24 annualized dividend and a yield of 0.7%. AMETEK's dividend payout ratio is 19.97%.

Analysts Set New Price Targets

A number of brokerages have weighed in on AME. Wall Street Zen upgraded AMETEK from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Morgan Stanley boosted their price objective on AMETEK from $185.00 to $198.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. Robert W. Baird boosted their price objective on AMETEK from $190.00 to $198.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. Melius cut AMETEK from a "buy" rating to a "hold" rating and set a $192.00 price target for the company. in a research note on Monday, July 14th. Finally, DA Davidson upped their price target on AMETEK from $210.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $208.00.

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.