CCLA Investment Management Grows Holdings in AMETEK, Inc. (NYSE:AME)

CCLA Investment Management lifted its holdings in AMETEK, Inc. (NYSE:AME) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 483,152 shares of the technology company’s stock after buying an additional 5,373 shares during the quarter. CCLA Investment Management’s holdings in AMETEK were worth $80,395,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Washington Trust Advisors Inc. purchased a new stake in shares of AMETEK in the 1st quarter worth about $37,000. Family Firm Inc. purchased a new stake in shares of AMETEK in the 2nd quarter worth about $39,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of AMETEK in the 2nd quarter worth about $42,000. Headlands Technologies LLC purchased a new stake in AMETEK during the 1st quarter valued at about $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 valued at $49,000 after purchasing an additional 184 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

AMETEK Price Performance

AME opened at $168.57 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26. The stock has a market capitalization of $39.02 billion, a P/E ratio of 29.63, a P/E/G ratio of 2.71 and a beta of 1.17. The company’s 50-day simple moving average is $166.41 and its two-hundred day simple moving average is $171.47. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32.

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 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 analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the business earned $1.57 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, analysts predict that AMETEK, Inc. will post 6.77 EPS for the current year.

AMETEK Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Monday, September 16th. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

Analyst Ratings Changes

AME has been the topic of several recent analyst reports. Truist Financial cut their price objective on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. 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. Royal Bank of Canada cut their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Four equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.