US Bancorp DE Decreases Stake in AMETEK, Inc. (NYSE:AME)

Key Points

• US Bancorp DE has reduced its position in AMETEK, Inc. by 4.2%, owning 33,925 shares valued at approximately $5.84 million as of the latest SEC filing.
• Analysts have mixed ratings on AMETEK, with one sell rating, five hold ratings, and eight buy ratings, while the average target price is set at $200.91.
• AMETEK recently reported positive earnings, surpassing expectations with $1.78 earnings per share and $1.78 billion in revenue, reflecting a 2.5% increase year-over-year.

US Bancorp DE trimmed its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 4.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,925 shares of the technology company's stock after selling 1,490 shares during the quarter. US Bancorp DE's holdings in AMETEK were worth $5,840,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Olde Wealth Management LLC bought a new position in AMETEK during the 1st quarter worth approximately $29,000. Banque Transatlantique SA acquired a new position in shares of AMETEK in the 4th quarter valued at about $37,000. Minot DeBlois Advisors LLC bought a new stake in shares of AMETEK during the 4th quarter valued at about $43,000. N.E.W. Advisory Services LLC acquired a new stake in AMETEK during the first quarter worth approximately $48,000. Finally, Golden State Wealth Management LLC increased its holdings in AMETEK by 201.0% in the first quarter. Golden State Wealth Management LLC now owns 295 shares of the technology company's stock worth $51,000 after purchasing an additional 197 shares in the last quarter. Institutional investors own 87.43% of the company's stock.

AMETEK Trading Down 0.1%

Shares of NYSE AME traded down $0.19 during trading hours on Friday, hitting $182.06. The company's stock had a trading volume of 351,853 shares, compared to its average volume of 1,387,807. The stock has a market cap of $42.05 billion, a price-to-earnings ratio of 29.31, a P/E/G ratio of 2.68 and a beta of 1.10. The business has a 50-day simple moving average of $179.83 and a 200-day simple moving average of $177.11. AMETEK, Inc. has a 12 month low of $145.02 and a 12 month high of $198.33. 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 (NYSE:AME - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The technology company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.69 by $0.09. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates 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 previous year, the company posted $1.66 earnings per share. On average, analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.7%. AMETEK's payout ratio is 19.97%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Morgan Stanley raised their price target on shares of AMETEK from $185.00 to $198.00 and gave the stock an "equal weight" rating in a report on Friday. DA Davidson upped their price target on AMETEK from $210.00 to $215.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Melius downgraded shares of AMETEK from a "buy" rating to a "hold" rating and set a $192.00 price objective for the company. in a research report on Monday, July 14th. Truist Financial upped their target price on AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a report on Monday, May 5th. Finally, Robert W. Baird upped their price objective on shares of AMETEK from $190.00 to $198.00 and gave the company a "neutral" rating in a report on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.