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DAVENPORT & Co LLC increased its position in shares of AMETEK, Inc. (NYSE:AME – Free Report) by 0.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,125 shares of the technology company’s stock after purchasing an additional 60 shares during the period. DAVENPORT & Co LLC’s holdings in AMETEK were worth $1,226,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in AMETEK during the 4th quarter worth approximately $697,080,000. Capital World Investors increased its holdings in shares of AMETEK by 70.0% in the 4th quarter. Capital World Investors now owns 5,760,017 shares of the technology company’s stock valued at $1,038,301,000 after acquiring an additional 2,371,062 shares during the period. Lazard Asset Management LLC increased its holdings in shares of AMETEK by 393.1% in the 4th quarter. Lazard Asset Management LLC now owns 1,215,087 shares of the technology company’s stock valued at $219,030,000 after acquiring an additional 968,661 shares during the period. GAMMA Investing LLC increased its stake in AMETEK by 18,368.3% in the 1st quarter. GAMMA Investing LLC now owns 973,280 shares of the technology company’s stock valued at $167,540,000 after buying an additional 968,010 shares during the period. Finally, American Century Companies Inc. increased its stake in AMETEK by 240.3% in the 4th quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company’s stock valued at $202,805,000 after buying an additional 794,473 shares during the period. 87.43% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have issued reports on AME. Mizuho set a $212.00 price objective on shares of AMETEK in a research note on Friday, May 16th. Royal Bank Of Canada upped their target price on shares of AMETEK from $194.00 to $201.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Robert W. Baird reduced their target price on shares of AMETEK from $197.00 to $190.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Morgan Stanley assumed coverage on shares of AMETEK in a research report on Monday, April 14th. They set an “equal weight” rating and a $170.00 price target for the company. Finally, Truist Financial upped their price target on shares of AMETEK from $196.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $197.89.
Get Our Latest Analysis on AMETEK
AMETEK Trading Up 1.2%
NYSE AME opened at $184.19 on Friday. The company’s fifty day moving average price is $177.30 and its two-hundred day moving average price is $177.06. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.41 and a quick ratio of 0.86. AMETEK, Inc. has a 12 month low of $145.02 and a 12 month high of $198.33. The company has a market capitalization of $42.53 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 2.76 and a beta of 1.09.
AMETEK (NYSE:AME – Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.69 by $0.06. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. AMETEK’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the company earned $1.64 EPS. As a group, research analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.
AMETEK Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a $0.31 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.24 annualized dividend and a yield of 0.67%. AMETEK’s dividend payout ratio (DPR) is presently 20.29%.
AMETEK 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.
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