Versor Investments LP acquired a new position in shares of AMETEK, Inc. (NYSE:AME – Get Rating) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 1,700 shares of the technology company’s stock, valued at approximately $226,000.
Other hedge funds also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. acquired a new position in shares of AMETEK in the 1st quarter valued at about $225,000. Metis Global Partners LLC boosted its holdings in shares of AMETEK by 81.3% in the 1st quarter. Metis Global Partners LLC now owns 3,660 shares of the technology company’s stock valued at $487,000 after buying an additional 1,641 shares during the period. DNB Asset Management AS boosted its holdings in shares of AMETEK by 13.8% in the 1st quarter. DNB Asset Management AS now owns 54,704 shares of the technology company’s stock valued at $7,285,000 after buying an additional 6,635 shares during the period. BlackRock Inc. boosted its holdings in shares of AMETEK by 1.7% in the 4th quarter. BlackRock Inc. now owns 15,279,416 shares of the technology company’s stock valued at $2,246,685,000 after buying an additional 259,800 shares during the period. Finally, TCW Group Inc. boosted its holdings in shares of AMETEK by 9.3% in the 1st quarter. TCW Group Inc. now owns 135,486 shares of the technology company’s stock valued at $18,044,000 after buying an additional 11,581 shares during the period. 86.72% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have recently commented on AME shares. Morgan Stanley decreased their price target on shares of AMETEK from $144.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, May 31st. Loop Capital cut their price objective on shares of AMETEK from $170.00 to $155.00 and set a “buy” rating on the stock in a research report on Tuesday, July 19th. Mizuho cut their price objective on shares of AMETEK from $159.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, July 18th. Robert W. Baird cut their price objective on shares of AMETEK from $156.00 to $140.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 10th. Finally, KeyCorp cut their price objective on shares of AMETEK from $155.00 to $145.00 in a research report on Wednesday, May 4th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $149.70.
AMETEK Stock Up 2.4 %
AME stock opened at $123.50 on Monday. AMETEK, Inc. has a 52 week low of $106.17 and a 52 week high of $148.07. The company has a market capitalization of $28.52 billion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 2.36 and a beta of 1.26. The firm’s 50-day moving average is $114.76 and its two-hundred day moving average is $124.80. The company has a current ratio of 1.43, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32.
AMETEK (NYSE:AME – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The technology company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.06. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. AMETEK had a net margin of 18.02% and a return on equity of 17.82%. The business’s revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS. On average, analysts forecast that AMETEK, Inc. will post 5.43 earnings per share for the current fiscal year.
AMETEK Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Friday, June 10th were paid a $0.22 dividend. The ex-dividend date was Thursday, June 9th. This represents a $0.88 annualized dividend and a dividend yield of 0.71%. AMETEK’s dividend payout ratio is currently 19.64%.
AMETEK declared that its Board of Directors has initiated a stock buyback program on Friday, May 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to buy up to 3.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.
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