1858 Wealth Management LLC reduced its stake in AMETEK, Inc. (NYSE:AME – Free Report) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,086 shares of the technology company’s stock after selling 161 shares during the quarter. AMETEK comprises approximately 2.9% of 1858 Wealth Management LLC’s holdings, making the stock its 9th largest position. 1858 Wealth Management LLC’s holdings in AMETEK were worth $3,997,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Banco Santander S.A. boosted its position in shares of AMETEK by 20.8% in the 1st quarter. Banco Santander S.A. now owns 45,365 shares of the technology company’s stock worth $7,809,000 after purchasing an additional 7,799 shares in the last quarter. M.D. Sass LLC boosted its position in shares of AMETEK by 2.1% in the 1st quarter. M.D. Sass LLC now owns 366,994 shares of the technology company’s stock worth $63,174,000 after purchasing an additional 7,666 shares in the last quarter. DAVENPORT & Co LLC boosted its position in shares of AMETEK by 0.8% in the 1st quarter. DAVENPORT & Co LLC now owns 7,125 shares of the technology company’s stock worth $1,226,000 after purchasing an additional 60 shares in the last quarter. Raiffeisen Bank International AG boosted its position in shares of AMETEK by 16.5% in the 1st quarter. Raiffeisen Bank International AG now owns 44,647 shares of the technology company’s stock worth $7,607,000 after purchasing an additional 6,318 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new stake in shares of AMETEK in the 1st quarter worth approximately $293,000. 87.43% of the stock is owned by institutional investors.
AMETEK Price Performance
Shares of AME opened at $179.28 on Friday. The firm has a market cap of $41.40 billion, a PE ratio of 28.87, a P/E/G ratio of 2.57 and a beta of 1.11. The company has a current ratio of 1.63, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $185.60 and a two-hundred day simple moving average of $177.92. AMETEK, Inc. has a 1-year low of $145.02 and a 1-year high of $198.33.
AMETEK Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $0.31 per share. The ex-dividend date was Monday, September 15th. This represents a $1.24 dividend on an annualized basis and a yield of 0.7%. AMETEK’s payout ratio is currently 19.97%.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on AME shares. Melius Research raised AMETEK to a “hold” rating in a research report on Monday, July 14th. Robert W. Baird upped their price objective on AMETEK from $190.00 to $198.00 and gave the company a “neutral” rating in a research report on Monday, August 4th. Mizuho upped their price objective on AMETEK from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Melius cut AMETEK from a “buy” rating to a “hold” rating and set a $192.00 price objective on the stock. in a research report on Monday, July 14th. Finally, Barclays started coverage on AMETEK in a research report on Wednesday, September 10th. They issued an “equal weight” rating and a $200.00 price objective on the stock. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, AMETEK currently has an average rating of “Moderate Buy” and a consensus price target of $207.42.
View Our Latest Stock Analysis on AMETEK
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.
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