Bull Harbor Capital LLC Buys Shares of 3,263 AMETEK, Inc. $AME

Bull Harbor Capital LLC purchased a new stake in shares of AMETEK, Inc. (NYSE:AME – Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,263 shares of the technology company’s stock, valued at approximately $699,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp grew its stake in shares of AMETEK by 2.0% in the 4th quarter. State Street Corp now owns 9,956,361 shares of the technology company’s stock valued at $2,044,140,000 after buying an additional 192,677 shares in the last quarter. Geode Capital Management LLC grew its position in AMETEK by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 5,891,236 shares of the technology company’s stock worth $1,204,722,000 after acquiring an additional 37,651 shares in the last quarter. Invesco Ltd. grew its position in AMETEK by 4.9% in the third quarter. Invesco Ltd. now owns 4,463,518 shares of the technology company’s stock worth $839,141,000 after acquiring an additional 209,043 shares in the last quarter. Norges Bank acquired a new position in shares of AMETEK during the 4th quarter worth $831,372,000. Finally, Morgan Stanley raised its holdings in shares of AMETEK by 2.9% during the 4th quarter. Morgan Stanley now owns 3,963,062 shares of the technology company’s stock valued at $813,657,000 after purchasing an additional 110,037 shares in the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

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AMETEK Trading Up 2.0%

AMETEK stock opened at $239.93 on Friday. AMETEK, Inc. has a 12 month low of $179.24 and a 12 month high of $244.71. The stock has a market cap of $54.99 billion, a price-to-earnings ratio of 36.24, a price-to-earnings-growth ratio of 3.30 and a beta of 0.99. The business has a 50 day moving average price of $233.22 and a two-hundred day moving average price of $228.42. The company has a quick ratio of 0.72, a current ratio of 1.14 and a debt-to-equity ratio of 0.10.

AMETEK (NYSE:AME – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The technology company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.07. AMETEK had a net margin of 20.11% and a return on equity of 16.63%. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the business posted $1.75 earnings per share. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, equities analysts forecast that AMETEK, Inc. will post 8.14 EPS for the current year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.34 per share. The ex-dividend date was Monday, June 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.6%. AMETEK’s payout ratio is presently 20.54%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of AMETEK from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Royal Bank Of Canada upped their price target on AMETEK from $259.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Barclays increased their price objective on AMETEK from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Mizuho set a $270.00 target price on AMETEK in a report on Friday, May 1st. Finally, Morgan Stanley lifted their price target on shares of AMETEK from $235.00 to $245.00 and gave the company an “equal weight” rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, AMETEK has an average rating of “Moderate Buy” and a consensus price target of $256.29.

Check Out Our Latest Analysis on AMETEK

AMETEK Company Profile

(Free Report)

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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