Bank of New York Mellon Corp Has $600.62 Million Stock Position in AMETEK, Inc. (NYSE:AME)

Bank of New York Mellon Corp raised its stake in shares of AMETEK, Inc. (NYSE:AME) by 34.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,602,753 shares of the technology company’s stock after purchasing an additional 926,657 shares during the quarter. Bank of New York Mellon Corp owned 1.56% of AMETEK worth $600,615,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. bought a new position in shares of AMETEK in the first quarter valued at approximately $37,000. Family Firm Inc. bought a new position in shares of AMETEK in the second quarter valued at approximately $39,000. Headlands Technologies LLC bought a new position in AMETEK in the 1st quarter worth approximately $43,000. Mendota Financial Group LLC bought a new position in AMETEK in the 1st quarter worth approximately $50,000. Finally, Salem Investment Counselors Inc. raised its position in AMETEK by 93.3% in the 1st quarter. Salem Investment Counselors Inc. now owns 574 shares of the technology company’s stock worth $105,000 after purchasing an additional 277 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Stock Up 0.3 %

NYSE AME traded up $0.56 on Monday, reaching $167.95. The company had a trading volume of 452,829 shares, compared to its average volume of 1,123,891. The firm has a market capitalization of $38.88 billion, a price-to-earnings ratio of 29.74, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.66 and a current ratio of 1.26. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32. The company’s fifty day moving average is $166.43 and its 200-day moving average is $172.33.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the business posted $1.57 EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts forecast that AMETEK, Inc. will post 6.78 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.28 per share. The ex-dividend date is Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. AMETEK’s dividend payout ratio is 19.68%.

Analyst Ratings Changes

Several research analysts recently weighed in on AME shares. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Robert W. Baird dropped their price objective on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada dropped their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. TD Cowen dropped their target price on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Finally, Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a research report on Wednesday, May 22nd. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $186.29.

Insider Transactions at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,440 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the sale, the director now directly owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.61% of the company’s stock.

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.