Groupama Asset Managment Sells 5,810 Shares of AMETEK, Inc. $AME

Groupama Asset Managment reduced its holdings in shares of AMETEK, Inc. (NYSE:AME) by 32.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,234 shares of the technology company’s stock after selling 5,810 shares during the period. Groupama Asset Managment’s holdings in AMETEK were worth $2,622,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Segall Bryant & Hamill LLC purchased a new stake in shares of AMETEK in the 1st quarter valued at $5,259,000. Argent Capital Management LLC raised its position in AMETEK by 48.4% in the 1st quarter. Argent Capital Management LLC now owns 33,528 shares of the technology company’s stock worth $7,187,000 after purchasing an additional 10,928 shares during the period. Groupe la Francaise purchased a new position in AMETEK in the 1st quarter worth $28,566,000. CCM Investment Advisers LLC bought a new stake in AMETEK in the first quarter worth $6,369,000. Finally, Western Wealth Management LLC bought a new stake in AMETEK in the first quarter worth $132,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AME has been the topic of a number of recent research reports. Robert W. Baird set a $244.00 price objective on AMETEK in a research note on Friday, May 1st. Mizuho set a $270.00 target price on AMETEK in a report on Friday, May 1st. Morgan Stanley raised their price target on AMETEK from $235.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Friday, July 10th. Weiss Ratings cut AMETEK from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Finally, Rothschild & Co Redburn set a $265.00 price objective on AMETEK in a research report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $256.29.

AMETEK Stock Performance

Shares of NYSE:AME opened at $242.19 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.72 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average price of $233.57 and a 200-day moving average price of $228.52. The company has a market cap of $55.51 billion, a price-to-earnings ratio of 36.58, a price-to-earnings-growth ratio of 3.39 and a beta of 0.99. AMETEK, Inc. has a 12 month low of $179.24 and a 12 month high of $244.97.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, April 30th. The technology company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.07. AMETEK had a return on equity of 16.63% and a net margin of 20.11%.The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the firm earned $1.75 earnings per share. AMETEK’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, equities analysts anticipate that AMETEK, Inc. will post 8.14 EPS for the current year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, June 15th. AMETEK’s payout ratio is currently 20.54%.

AMETEK Company Profile

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.

The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.