AMETEK, Inc. (NYSE:AME) Position Increased by North Star Asset Management Inc.

North Star Asset Management Inc. raised its stake in AMETEK, Inc. (NYSE:AME) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 171,588 shares of the technology company’s stock after buying an additional 1,016 shares during the period. AMETEK makes up about 1.4% of North Star Asset Management Inc.’s investment portfolio, making the stock its 21st largest holding. North Star Asset Management Inc. owned approximately 0.07% of AMETEK worth $28,605,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Washington Trust Advisors Inc. purchased a new stake in shares of AMETEK during the first quarter valued at $37,000. Family Firm Inc. purchased a new position in shares of AMETEK in the second quarter worth approximately $39,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of AMETEK in the 2nd quarter valued at approximately $42,000. Headlands Technologies LLC acquired a new position in AMETEK in the 1st quarter worth approximately $43,000. Finally, Crewe Advisors LLC grew its position in 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 purchasing an additional 184 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Wall Street Analyst Weigh In

AME has been the topic of a number of research reports. Robert W. Baird dropped their target price on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Royal Bank of Canada cut their price target on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Truist Financial lowered their price target on AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, TD Cowen cut their price objective on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $186.29.

AMETEK Price Performance

Shares of AMETEK stock opened at $163.75 on Friday. The firm has a fifty day simple moving average of $166.27 and a 200-day simple moving average of $172.12. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32. The stock has a market capitalization of $37.90 billion, a price-to-earnings ratio of 28.78, a PEG ratio of 2.81 and a beta of 1.17.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share 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 business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the previous year, the company earned $1.57 earnings per share. AMETEK’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts expect that AMETEK, Inc. will post 6.77 earnings per share for the current year.

AMETEK Dividend Announcement

The company 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 $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Monday, September 16th. AMETEK’s payout ratio is 19.68%.

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,440 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the transaction, the director now owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is owned by corporate insiders.

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.