Kensington Investment Counsel LLC Has $1.96 Million Holdings in AMETEK, Inc. $AME

Kensington Investment Counsel LLC lessened its holdings in AMETEK, Inc. (NYSE:AME) by 23.2% during the first quarter, HoldingsChannel.com reports. The fund owned 9,133 shares of the technology company’s stock after selling 2,760 shares during the period. Kensington Investment Counsel LLC’s holdings in AMETEK were worth $1,958,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. CoreCap Advisors LLC boosted its stake in shares of AMETEK by 84.3% in the 4th quarter. CoreCap Advisors LLC now owns 129 shares of the technology company’s stock valued at $26,000 after purchasing an additional 59 shares in the last quarter. MV Capital Management Inc. bought a new position in shares of AMETEK in the 4th quarter valued at $28,000. Brown Lisle Cummings Inc. grew its position in AMETEK by 878.6% during the 1st quarter. Brown Lisle Cummings Inc. now owns 137 shares of the technology company’s stock worth $29,000 after acquiring an additional 123 shares during the last quarter. Darwin Wealth Management LLC bought a new position in AMETEK in the second quarter valued at about $25,000. Finally, SJS Investment Consulting Inc. boosted its stake in shares of AMETEK by 393.1% during the first quarter. SJS Investment Consulting Inc. now owns 143 shares of the technology company’s stock valued at $31,000 after purchasing an additional 114 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Trading Down 2.4%

Shares of AMETEK stock opened at $235.74 on Thursday. The stock has a market capitalization of $54.03 billion, a PE ratio of 35.61, a price-to-earnings-growth ratio of 3.38 and a beta of 0.99. AMETEK, Inc. has a 52 week low of $175.61 and a 52 week high of $244.71. The stock has a 50 day moving average price of $232.88 and a two-hundred day moving average price of $228.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.72 and a current ratio of 1.14.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, April 30th. The technology company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business earned $1.75 EPS. AMETEK’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, equities analysts anticipate that AMETEK, Inc. will post 8.14 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid 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 dividend payout ratio (DPR) is 20.54%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AME shares. Truist Financial raised their target price on AMETEK from $275.00 to $303.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Morgan Stanley lifted their target price on AMETEK from $235.00 to $245.00 and gave the stock an “equal weight” rating in a report on Friday, July 10th. Wall Street Zen lowered AMETEK from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Royal Bank Of Canada increased their price target on AMETEK from $259.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Finally, Mizuho set a $270.00 price objective on shares of AMETEK in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, AMETEK currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.29.

AMETEK 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.