Portside Wealth Group LLC Acquires 205 Shares of AMETEK, Inc. (NYSE:AME)

Portside Wealth Group LLC grew its holdings in AMETEK, Inc. (NYSE:AME) by 8.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,641 shares of the technology company’s stock after acquiring an additional 205 shares during the period. Portside Wealth Group LLC’s holdings in AMETEK were worth $440,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AME. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in AMETEK by 11.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,669,394 shares of the technology company’s stock valued at $275,266,000 after purchasing an additional 167,602 shares in the last quarter. Cim LLC bought a new position in shares of AMETEK during the 4th quarter valued at approximately $1,254,000. Nomura Holdings Inc. bought a new stake in AMETEK during the 4th quarter worth approximately $768,000. Duality Advisers LP purchased a new position in AMETEK during the first quarter valued at approximately $1,676,000. Finally, Czech National Bank boosted its position in shares of AMETEK by 8.6% in the second quarter. Czech National Bank now owns 44,108 shares of the technology company’s stock worth $7,353,000 after purchasing an additional 3,499 shares during the period. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Price Performance

Shares of AME stock traded down $0.46 on Friday, reaching $162.69. The company’s stock had a trading volume of 1,039,517 shares, compared to its average volume of 1,133,188. The stock’s fifty day simple moving average is $167.07 and its 200-day simple moving average is $172.25. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32. The company has a market capitalization of $37.66 billion, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18. The company has a current ratio of 1.26, a quick ratio of 0.66 and a debt-to-equity ratio of 0.20.

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

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given 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 yield of 0.69%. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

Insider Activity

In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK 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 completion of the transaction, the director now directly owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on AME. Truist Financial decreased their price target on AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Royal Bank of Canada lowered their price target on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. TD Cowen dropped their price target on AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a research note on Monday, August 5th. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $186.29.

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.