AMETEK, Inc. (NYSE:AME) Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. reduced its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 30.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,881 shares of the technology company's stock after selling 1,695 shares during the period. Stratos Wealth Partners LTD.'s holdings in AMETEK were worth $668,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AME. Olde Wealth Management LLC acquired a new stake in shares of AMETEK in the first quarter valued at $29,000. Banque Transatlantique SA acquired a new stake in AMETEK in the fourth quarter valued at $37,000. Minot DeBlois Advisors LLC acquired a new stake in AMETEK in the fourth quarter valued at $43,000. Golden State Wealth Management LLC raised its stake 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 buying an additional 197 shares in the last quarter. Finally, Ancora Advisors LLC raised its stake in AMETEK by 15,950.0% in the fourth quarter. Ancora Advisors LLC now owns 321 shares of the technology company's stock valued at $58,000 after buying an additional 319 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Stock Performance

NYSE:AME traded down $1.91 during mid-day trading on Tuesday, reaching $176.45. The stock had a trading volume of 1,585,206 shares, compared to its average volume of 1,306,931. The business has a 50 day simple moving average of $178.82 and a 200 day simple moving average of $176.93. AMETEK, Inc. has a twelve month low of $145.02 and a twelve month high of $198.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.41. The firm has a market capitalization of $40.74 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 2.67 and a beta of 1.09.

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

AMETEK Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.70%. AMETEK's payout ratio is 20.29%.

Wall Street Analyst Weigh In

AME has been the topic of several research reports. Robert W. Baird dropped their price objective on AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Truist Financial raised their price objective on AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Royal Bank Of Canada raised their price objective on AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Wall Street Zen raised AMETEK from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, Morgan Stanley assumed coverage on AMETEK in a report on Monday, April 14th. They set an "equal weight" rating and a $170.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, AMETEK has an average rating of "Moderate Buy" and a consensus price target of $197.30.

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.