BTIM Corp. raised its holdings in shares of AMETEK, Inc. (NYSE:AME) by 11.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,775 shares of the technology company’s stock after buying an additional 8,175 shares during the quarter. BTIM Corp.’s holdings in AMETEK were worth $6,868,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. IFP Advisors Inc lifted its stake in shares of AMETEK by 76.4% during the fourth quarter. IFP Advisors Inc now owns 441 shares of the technology company’s stock valued at $29,000 after acquiring an additional 191 shares during the period. Laurel Wealth Advisors LLC acquired a new position in AMETEK in the fourth quarter valued at about $32,000. SRS Capital Advisors Inc. lifted its stake in AMETEK by 183.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 749 shares of the technology company’s stock valued at $51,000 after buying an additional 485 shares during the period. Financial Gravity Companies Inc. acquired a new position in AMETEK in the fourth quarter valued at about $65,000. Finally, Cerebellum GP LLC lifted its stake in AMETEK by 86.7% in the fourth quarter. Cerebellum GP LLC now owns 1,064 shares of the technology company’s stock valued at $72,000 after buying an additional 494 shares during the period. Institutional investors own 85.88% of the company’s stock.
Several equities analysts have weighed in on AME shares. DA Davidson increased their target price on AMETEK to $101.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. ValuEngine upgraded AMETEK from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Zacks Investment Research upgraded AMETEK from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a report on Friday, February 8th. BMO Capital Markets reiterated a “buy” rating and set a $90.00 price objective on shares of AMETEK in a report on Tuesday, January 29th. Finally, Morgan Stanley set a $95.00 price objective on AMETEK and gave the stock a “buy” rating in a report on Friday, May 3rd. Fourteen research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus price target of $90.18.
Shares of AME traded up $0.13 during mid-day trading on Friday, reaching $85.58. The company’s stock had a trading volume of 749,357 shares, compared to its average volume of 933,707. AMETEK, Inc. has a 1-year low of $63.14 and a 1-year high of $88.76. The stock has a market cap of $19.47 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 2.18 and a beta of 1.21. The company has a quick ratio of 1.27, a current ratio of 1.91 and a debt-to-equity ratio of 0.53.
AMETEK (NYSE:AME) last released its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.03. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. AMETEK had a return on equity of 18.56% and a net margin of 16.14%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $0.79 earnings per share. As a group, analysts expect that AMETEK, Inc. will post 4.07 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.65%. AMETEK’s payout ratio is currently 17.02%.
AMETEK announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 13th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 2.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control 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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