LGT Fund Management Co Ltd. Has $2.89 Million Stake in AMETEK, Inc. (NYSE:AME)

LGT Fund Management Co Ltd. boosted its position in shares of AMETEK, Inc. (NYSE:AME) by 311.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 17,347 shares of the technology company’s stock after buying an additional 13,129 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in AMETEK were worth $2,892,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Oppenheimer upgraded AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a report on Wednesday, May 22nd. Royal Bank of Canada decreased their price objective 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 target price on AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a report on Monday, August 5th. Truist Financial lowered their price target 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. Finally, Robert W. Baird decreased their target price on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.29.

AMETEK Trading Up 0.4 %

Shares of AMETEK stock opened at $164.33 on Tuesday. The firm’s 50-day moving average price is $166.24 and its two-hundred day moving average price is $171.98. The company has a market capitalization of $38.05 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 2.68 and a beta of 1.17. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. AMETEK, Inc. has a 12-month low of $136.89 and a 12-month high of $186.32.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period last year, the firm posted $1.57 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, analysts forecast that AMETEK, Inc. will post 6.77 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Monday, September 16th. AMETEK’s dividend payout ratio is presently 19.68%.

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.