Sumitomo Mitsui DS Asset Management Company Ltd Increases Position in AMETEK, Inc. (NYSE:AME)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of AMETEK, Inc. (NYSE:AME) by 18.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,098 shares of the technology company’s stock after buying an additional 5,340 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in AMETEK were worth $5,684,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of AME. EverSource Wealth Advisors LLC grew its position in AMETEK by 7.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company’s stock valued at $157,000 after acquiring an additional 61 shares in the last quarter. MorganRosel Wealth Management LLC grew its holdings in shares of AMETEK by 1.6% in the second quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company’s stock valued at $648,000 after purchasing an additional 61 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in AMETEK by 4.8% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock worth $224,000 after buying an additional 61 shares during the period. First Horizon Advisors Inc. lifted its holdings in AMETEK by 2.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock worth $440,000 after buying an additional 62 shares in the last quarter. Finally, Checchi Capital Advisers LLC boosted its position in AMETEK by 2.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock valued at $371,000 after buying an additional 63 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the business’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 completion of the sale, the director now owns 24,809 shares in the company, valued at $4,315,029.37. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.61% of the stock is currently owned by company insiders.

AMETEK Stock Up 1.0 %

AME stock opened at $171.05 on Friday. 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, Inc. has a twelve month low of $136.89 and a twelve month high of $186.32. The company’s 50 day moving average is $166.38 and its two-hundred day moving average is $172.32. The stock has a market cap 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 announced its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the business earned $1.57 EPS. AMETEK’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts expect that AMETEK, Inc. will post 6.78 earnings per share for the current fiscal 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 issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Monday, September 16th. AMETEK’s payout ratio is currently 19.68%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Robert W. Baird reduced their price objective on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price target for the company in a research note on Wednesday, May 22nd. Finally, Royal Bank of Canada lowered their price target on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $186.29.

About AMETEK

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.