First Merchants Corp Purchases 945 Shares of AMETEK, Inc. (NYSE:AME)

First Merchants Corp grew its holdings in AMETEK, Inc. (NYSE:AME) by 3.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,793 shares of the technology company’s stock after purchasing an additional 945 shares during the quarter. First Merchants Corp’s holdings in AMETEK were worth $4,956,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AME. Banque Transatlantique SA bought a new position in AMETEK in the fourth quarter valued at approximately $37,000. OFI Invest Asset Management acquired a new position in shares of AMETEK in the 4th quarter valued at $43,000. Minot DeBlois Advisors LLC bought a new position in shares of AMETEK in the 4th quarter worth $43,000. Golden State Wealth Management LLC boosted its position in shares of AMETEK by 201.0% in the 1st quarter. Golden State Wealth Management LLC now owns 295 shares of the technology company’s stock worth $51,000 after purchasing an additional 197 shares during the last quarter. Finally, Ancora Advisors LLC grew its stake in shares of AMETEK by 15,950.0% during the fourth quarter. Ancora Advisors LLC now owns 321 shares of the technology company’s stock worth $58,000 after purchasing an additional 319 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Stock Performance

AME opened at $180.09 on Friday. The company has a market capitalization of $41.58 billion, a price-to-earnings ratio of 29.48, a P/E/G ratio of 2.67 and a beta of 1.10. The business’s 50-day moving average price is $174.78 and its two-hundred day moving average price is $177.32. AMETEK, Inc. has a 1 year low of $145.02 and a 1 year high of $198.33. 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 (NYSE:AME) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.06. AMETEK had a return on equity of 16.75% and a net margin of 20.43%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the company earned $1.64 earnings per share. AMETEK’s quarterly revenue was down .2% on a year-over-year basis. Equities analysts expect that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Friday, June 13th. AMETEK’s dividend payout ratio (DPR) is currently 20.29%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Truist Financial increased their target price on AMETEK from $196.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Royal Bank Of Canada increased their price target on shares of AMETEK from $194.00 to $201.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Robert W. Baird reduced their price objective on shares of AMETEK from $197.00 to $190.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Mizuho set a $212.00 target price on shares of AMETEK in a research note on Friday, May 16th. Finally, Wall Street Zen upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $197.89.

About AMETEK

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.