Cambridge Investment Research Advisors Inc. Sells 7,201 Shares of AMETEK, Inc. (NYSE:AME)

Cambridge Investment Research Advisors Inc. reduced its stake in AMETEK, Inc. (NYSE:AME) by 58.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,174 shares of the technology company’s stock after selling 7,201 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in AMETEK were worth $891,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. EWA LLC raised its stake in AMETEK by 4.9% in the first quarter. EWA LLC now owns 1,382 shares of the technology company’s stock worth $238,000 after buying an additional 65 shares in the last quarter. Kensington Investment Counsel LLC raised its stake in AMETEK by 0.5% in the fourth quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company’s stock worth $2,574,000 after buying an additional 66 shares in the last quarter. Level Four Advisory Services LLC raised its stake in AMETEK by 3.1% in the fourth quarter. Level Four Advisory Services LLC now owns 2,624 shares of the technology company’s stock worth $473,000 after buying an additional 80 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its stake in AMETEK by 3.8% in the first quarter. Fifth Third Wealth Advisors LLC now owns 2,218 shares of the technology company’s stock worth $382,000 after buying an additional 82 shares in the last quarter. Finally, Net Worth Advisory Group raised its stake in AMETEK by 1.8% in the fourth quarter. Net Worth Advisory Group now owns 4,834 shares of the technology company’s stock worth $871,000 after buying an additional 87 shares in the last quarter. 87.43% of the stock is owned by institutional investors.

AMETEK Trading Up 1.2%

NYSE:AME opened at $184.19 on Monday. The company’s 50 day moving average price is $177.30 and its 200-day moving average price is $177.02. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week high of $198.33. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.15. The stock has a market cap of $42.53 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 2.76 and a beta of 1.09.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.06. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the prior year, the company posted $1.64 earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. On average, equities research analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Friday, June 13th. AMETEK’s payout ratio is 20.29%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AME shares. Truist Financial increased their price target on shares of AMETEK from $196.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Mizuho set a $212.00 price objective on shares of AMETEK in a report on Friday, May 16th. Morgan Stanley initiated coverage on shares of AMETEK in a report on Monday, April 14th. They issued an “equal weight” rating and a $170.00 price objective on the stock. Robert W. Baird cut their price objective on shares of AMETEK from $197.00 to $190.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Finally, Royal Bank Of Canada upped their price objective on shares of AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $197.89.

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.