AMETEK, Inc. (NYSE:AME) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank increased its holdings in AMETEK, Inc. by 34.7%, acquiring an additional 30,885 shares during the first quarter, bringing its total ownership to 119,783 shares worth approximately $20.6 million.
• Analyst ratings for AMETEK show a consensus of “Moderate Buy” with a price target of $197.30, and there is a mix of ratings from "sell" to "strong buy" from various firms.
• AMETEK reported $1.75 earnings per share in its latest quarterly results, surpassing the estimate of $1.69, despite facing a slight revenue decline of 0.2% year-over-year.

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in AMETEK, Inc. (NYSE:AME - Free Report) by 34.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,783 shares of the technology company's stock after acquiring an additional 30,885 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.05% of AMETEK worth $20,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Empirical Finance LLC boosted its stake in shares of AMETEK by 2.3% in the first quarter. Empirical Finance LLC now owns 8,041 shares of the technology company's stock worth $1,384,000 after acquiring an additional 184 shares during the last quarter. TD Asset Management Inc boosted its stake in AMETEK by 1.7% during the first quarter. TD Asset Management Inc now owns 107,004 shares of the technology company's stock worth $18,420,000 after buying an additional 1,741 shares during the last quarter. HB Wealth Management LLC boosted its stake in AMETEK by 48.6% during the first quarter. HB Wealth Management LLC now owns 7,878 shares of the technology company's stock worth $1,356,000 after buying an additional 2,578 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in AMETEK by 22.3% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 55,330 shares of the technology company's stock worth $9,525,000 after buying an additional 10,081 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in AMETEK by 78.9% during the first quarter. Pacer Advisors Inc. now owns 80,576 shares of the technology company's stock worth $13,870,000 after buying an additional 35,534 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AME shares. Robert W. Baird lowered their price objective on AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Melius Research raised AMETEK to a "hold" rating in a research note on Monday, July 14th. Wall Street Zen upgraded AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Truist Financial lifted their target price on AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Finally, Royal Bank Of Canada lifted their target price on AMETEK from $209.00 to $212.00 and gave the company an "outperform" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $198.70.

AMETEK Stock Down 2.2%

NYSE AME traded down $4.03 during trading hours on Friday, hitting $180.82. 778,037 shares of the company were exchanged, compared to its average volume of 1,383,995. The company has a 50 day moving average of $179.35 and a two-hundred day moving average of $176.99. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a 52-week low of $145.02 and a 52-week high of $198.33. The firm has a market cap of $41.75 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 2.65 and a beta of 1.09.

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 for the quarter, topping the consensus estimate of $1.69 by $0.09. AMETEK had a return on equity of 16.75% and a net margin of 20.43%. The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the business earned $1.66 EPS. AMETEK's revenue was up 2.5% on a year-over-year basis. Equities research analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, June 13th. This represents a $1.24 annualized dividend and a yield of 0.7%. AMETEK's dividend payout ratio is 20.29%.

AMETEK Company 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.