Argent Capital Management LLC grew its holdings in shares of AMETEK, Inc. (NYSE:AME – Free Report) by 48.4% during the first quarter, Holdings Channel reports. The firm owned 33,528 shares of the technology company’s stock after acquiring an additional 10,928 shares during the quarter. Argent Capital Management LLC’s holdings in AMETEK were worth $7,187,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of AME. CoreCap Advisors LLC lifted its holdings in AMETEK by 84.3% in the fourth quarter. CoreCap Advisors LLC now owns 129 shares of the technology company’s stock worth $26,000 after acquiring an additional 59 shares during the last quarter. MV Capital Management Inc. acquired a new position in AMETEK in the fourth quarter valued at approximately $28,000. Darwin Wealth Management LLC bought a new position in shares of AMETEK during the second quarter valued at approximately $25,000. Brown Lisle Cummings Inc. raised its position in shares of 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 purchasing an additional 123 shares during the period. Finally, SJS Investment Consulting Inc. raised its position in shares of AMETEK by 393.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 143 shares of the technology company’s stock worth $31,000 after purchasing an additional 114 shares during the period. 87.43% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. Citigroup began coverage on AMETEK in a research report on Monday, June 15th. They set a “neutral” rating and a $257.00 price objective for the company. Weiss Ratings lowered AMETEK from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. Robert W. Baird set a $244.00 target price on AMETEK in a research note on Friday, May 1st. Rothschild & Co Redburn set a $265.00 price target on shares of AMETEK in a report on Thursday, June 18th. Finally, Truist Financial increased their price objective on shares of AMETEK from $275.00 to $303.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, AMETEK presently has an average rating of “Moderate Buy” and an average target price of $256.29.
AMETEK Stock Performance
Shares of AME stock opened at $242.19 on Friday. AMETEK, Inc. has a 12-month low of $179.24 and a 12-month high of $244.97. The firm has a market capitalization of $55.51 billion, a price-to-earnings ratio of 36.58, a price-to-earnings-growth ratio of 3.36 and a beta of 0.99. The business has a 50 day simple moving average of $233.57 and a 200 day simple moving average of $228.52. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.14 and a quick ratio of 0.72.
AMETEK (NYSE:AME – Get Free Report) last announced its earnings results on Thursday, April 30th. The technology company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.07. AMETEK had a return on equity of 16.63% and a net margin of 20.11%.The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the business earned $1.75 EPS. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, equities research analysts anticipate that AMETEK, Inc. will post 8.14 EPS for the current year.
AMETEK Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a dividend of $0.34 per share. 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%.
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.
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