Capital Investment Counsel Inc Trims Holdings in AMETEK, Inc. (NYSE:AME)

Capital Investment Counsel Inc reduced its holdings in shares of AMETEK, Inc. (NYSE:AME) by 6.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,250 shares of the technology company’s stock after selling 150 shares during the period. Capital Investment Counsel Inc’s holdings in AMETEK were worth $387,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Teacher Retirement System of Texas lifted its stake in shares of AMETEK by 18.6% in the 1st quarter. Teacher Retirement System of Texas now owns 110,619 shares of the technology company’s stock worth $19,042,000 after acquiring an additional 17,387 shares during the period. Aaron Wealth Advisors LLC increased its stake in AMETEK by 24.2% in the 1st quarter. Aaron Wealth Advisors LLC now owns 1,568 shares of the technology company’s stock valued at $270,000 after purchasing an additional 306 shares in the last quarter. FSM Wealth Advisors LLC raised its holdings in AMETEK by 2.4% during the first quarter. FSM Wealth Advisors LLC now owns 5,969 shares of the technology company’s stock worth $1,027,000 after purchasing an additional 138 shares during the last quarter. Phraction Management LLC acquired a new stake in AMETEK in the first quarter valued at $280,000. Finally, DAVENPORT & Co LLC increased its position in shares of AMETEK by 0.8% in the first quarter. DAVENPORT & Co LLC now owns 7,125 shares of the technology company’s stock valued at $1,226,000 after buying an additional 60 shares in the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AME has been the topic of a number of research reports. Royal Bank Of Canada increased 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. Truist Financial raised their price objective on shares of AMETEK from $196.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Wall Street Zen raised AMETEK from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Robert W. Baird dropped their price target on AMETEK from $197.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Finally, Mizuho set a $212.00 price target on AMETEK in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $197.89.

AMETEK Price Performance

AME opened at $181.94 on Thursday. 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 quick ratio of 0.86 and a current ratio of 1.41. The company’s 50 day simple moving average is $176.62 and its 200 day simple moving average is $177.13. The stock has a market capitalization of $42.01 billion, a PE ratio of 29.78, a P/E/G ratio of 2.74 and a beta of 1.09.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.06. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the company earned $1.64 EPS. The business’s quarterly revenue was down .2% compared to the same quarter last year. As a group, sell-side analysts expect that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.31 per share. The ex-dividend date was Friday, June 13th. This represents a $1.24 dividend on an annualized basis and a yield of 0.68%. AMETEK’s dividend payout ratio (DPR) is 20.29%.

AMETEK Company 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.