Douglass Winthrop Advisors LLC purchased a new stake in shares of AMETEK, Inc. (NYSE:AME) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 3,125 shares of the technology company’s stock, valued at approximately $237,000.
Several other hedge funds have also recently made changes to their positions in AME. 180 Wealth Advisors LLC acquired a new position in shares of AMETEK during the 4th quarter valued at about $200,000. First Allied Advisory Services Inc. acquired a new position in shares of AMETEK during the 4th quarter valued at about $207,000. Catawba Capital Management VA acquired a new position in shares of AMETEK during the 4th quarter valued at about $208,000. D.A. Davidson & CO. acquired a new position in shares of AMETEK during the 4th quarter valued at about $210,000. Finally, Wetherby Asset Management Inc. acquired a new position in shares of AMETEK during the 1st quarter valued at about $210,000. 86.00% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently weighed in on AME. Stifel Nicolaus reissued a “buy” rating and set a $92.00 price target on shares of AMETEK in a research report on Thursday, February 1st. KeyCorp boosted their price target on shares of AMETEK from $82.00 to $86.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. BMO Capital Markets boosted their price target on shares of AMETEK from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Zacks Investment Research raised shares of AMETEK from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research report on Monday, February 5th. Finally, Wells Fargo set a $88.00 target price on shares of AMETEK and gave the company a “buy” rating in a research report on Thursday, January 18th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $82.00.
NYSE AME opened at $75.33 on Friday. AMETEK, Inc. has a 12 month low of $74.09 and a 12 month high of $74.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.18 and a current ratio of 1.69. The stock has a market capitalization of $17.35 billion, a price-to-earnings ratio of 26.85, a P/E/G ratio of 2.40 and a beta of 1.27.
AMETEK (NYSE:AME) last posted its earnings results on Wednesday, May 2nd. The technology company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.06. AMETEK had a net margin of 16.21% and a return on equity of 16.64%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. AMETEK’s revenue for the quarter was up 16.4% compared to the same quarter last year. analysts predict that AMETEK, Inc. will post 3.12 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be given a $0.14 dividend. The ex-dividend date is Thursday, June 14th. This represents a $0.56 dividend on an annualized basis and a yield of 0.74%. AMETEK’s payout ratio is currently 21.46%.
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.
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