Crossmark Global Holdings Inc. Sells 877 Shares of AMETEK, Inc. (NYSE:AME)

Crossmark Global Holdings Inc. lessened its holdings in AMETEK, Inc. (NYSE:AME) by 6.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,400 shares of the technology company’s stock after selling 877 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in AMETEK were worth $2,234,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Smith Salley Wealth Management grew its position in shares of AMETEK by 7.7% during the 2nd quarter. Smith Salley Wealth Management now owns 125,711 shares of the technology company’s stock worth $20,957,000 after buying an additional 9,025 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of AMETEK by 256.3% during the 2nd quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company’s stock worth $162,844,000 after buying an additional 702,674 shares in the last quarter. Crewe Advisors LLC grew its position in shares of AMETEK by 168.8% during the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock worth $49,000 after buying an additional 184 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of AMETEK by 15.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 76,279 shares of the technology company’s stock worth $12,716,000 after buying an additional 10,452 shares in the last quarter. Finally, Financial Advocates Investment Management grew its position in shares of AMETEK by 44.3% during the 2nd quarter. Financial Advocates Investment Management now owns 2,061 shares of the technology company’s stock worth $344,000 after buying an additional 633 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on AME. TD Cowen dropped their price target on AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Oppenheimer upgraded AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a research note on Wednesday, May 22nd. Truist Financial decreased their price objective on AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Royal Bank of Canada decreased their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.29.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,440 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total value of $250,459.20. Following the transaction, the director now owns 24,809 shares in the company, valued at $4,315,029.37. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.61% of the company’s stock.

AMETEK Stock Up 1.0 %

AMETEK stock traded up $1.67 during midday trading on Friday, reaching $171.05. The company’s stock had a trading volume of 1,212,410 shares, compared to its average volume of 1,119,702. The stock’s 50-day simple moving average is $166.34 and its 200-day simple moving average is $172.30. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.66. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32. The stock has a market capitalization of $39.59 billion, a P/E ratio of 30.06, a PEG ratio of 2.57 and a beta of 1.18.

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

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.28 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

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.