AMETEK, Inc. (NYSE:AME) Stock Position Raised by Legacy Advisors LLC

Legacy Advisors LLC lifted its position in AMETEK, Inc. (NYSE:AME) by 4.8% in the 1st quarter, Holdings Channel reports. The fund owned 1,669 shares of the technology company’s stock after buying an additional 76 shares during the period. Legacy Advisors LLC’s holdings in AMETEK were worth $287,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AME. Banque Transatlantique SA purchased a new stake in shares of AMETEK in the 4th quarter valued at approximately $37,000. OFI Invest Asset Management purchased a new stake in shares of AMETEK in the 4th quarter valued at approximately $43,000. Minot DeBlois Advisors LLC purchased a new stake in shares of AMETEK in the 4th quarter valued at approximately $43,000. Ancora Advisors LLC lifted its position in shares of AMETEK by 15,950.0% in the 4th quarter. Ancora Advisors LLC now owns 321 shares of the technology company’s stock valued at $58,000 after acquiring an additional 319 shares in the last quarter. Finally, Continuum Advisory LLC lifted its position in shares of AMETEK by 1,342.3% in the 1st quarter. Continuum Advisory LLC now owns 375 shares of the technology company’s stock valued at $65,000 after acquiring an additional 349 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Stock Performance

Shares of AME opened at $178.13 on Thursday. The company’s fifty day moving average is $174.33 and its 200-day moving average is $177.38. AMETEK, Inc. has a 12 month low of $145.02 and a 12 month high of $198.33. The firm has a market cap of $41.13 billion, a price-to-earnings ratio of 29.15, a price-to-earnings-growth ratio of 2.69 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.15.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.06. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the business posted $1.64 EPS. AMETEK’s revenue was down .2% compared to the same quarter last year. Equities analysts expect that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.24 dividend on an annualized basis and a yield of 0.70%. AMETEK’s payout ratio is presently 20.29%.

Analysts Set New Price Targets

Several research analysts have weighed in on AME shares. Truist Financial upped their price objective on shares of 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 upped their price objective on shares of AMETEK from $194.00 to $201.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Robert W. Baird dropped 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. Wall Street Zen upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Finally, Mizuho set a $212.00 price objective on shares of AMETEK in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AMETEK has an average rating of “Moderate Buy” and an average target price of $197.89.

AMETEK Profile

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.