AMETEK (NYSE:AME) Sees Unusually-High Trading Volume

AMETEK, Inc. (NYSE:AME) saw an uptick in trading volume on Wednesday . 429,551 shares changed hands during trading, a decline of 61% from the previous session’s volume of 1,111,275 shares.The stock last traded at $169.54 and had previously closed at $168.57.

Analyst Upgrades and Downgrades

AME has been the topic of a number of recent research 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 report on Friday, August 2nd. TD Cowen reduced their price objective on AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Oppenheimer raised AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a research note on Wednesday, May 22nd. Robert W. Baird lowered their price target on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Four 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. According to MarketBeat.com, AMETEK has a consensus rating of “Moderate Buy” and an average price target of $186.29.

AMETEK Stock Down 0.2 %

The company’s 50 day simple moving average is $166.41 and its 200-day simple moving average is $171.47. The firm has a market cap of $38.92 billion, a P/E ratio of 29.63, a PEG ratio of 2.71 and a beta of 1.17. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.02. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company posted $1.57 earnings per share. Research analysts forecast that AMETEK, Inc. will post 6.77 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. Shareholders of record on Monday, September 16th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Monday, September 16th. AMETEK’s dividend payout ratio is 19.68%.

Institutional Trading of AMETEK

Large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its stake in shares of AMETEK by 7.3% during 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 during the period. MorganRosel Wealth Management LLC increased its stake 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 worth $648,000 after purchasing an additional 61 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its position in shares of AMETEK by 4.8% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock valued at $224,000 after purchasing an additional 61 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of AMETEK by 2.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock valued at $440,000 after buying an additional 62 shares in the last quarter. Finally, Checchi Capital Advisers LLC boosted its holdings in AMETEK by 2.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock worth $371,000 after buying an additional 63 shares during the period. 87.43% of the stock is currently owned by institutional investors.

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.