Brighton Jones LLC Invests $456,000 in AMETEK, Inc. $AME

Brighton Jones LLC purchased a new position in AMETEK, Inc. (NYSE:AME) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,521 shares of the technology company’s stock, valued at approximately $456,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bares Capital Management Inc. acquired a new position in shares of AMETEK in the 1st quarter worth approximately $26,000. ST Germain D J Co. Inc. lifted its position in shares of AMETEK by 628.6% during the 2nd quarter. ST Germain D J Co. Inc. now owns 153 shares of the technology company’s stock valued at $28,000 after acquiring an additional 132 shares during the period. Olde Wealth Management LLC acquired a new position in shares of AMETEK during the 1st quarter valued at $29,000. Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of AMETEK by 57.7% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 194 shares of the technology company’s stock valued at $33,000 after acquiring an additional 71 shares during the period. Finally, Zions Bancorporation National Association UT acquired a new position in shares of AMETEK during the 1st quarter valued at $42,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. TD Cowen upgraded shares of AMETEK from a “sell” rating to a “hold” rating and upped their price objective for the stock from $158.00 to $180.00 in a report on Tuesday, September 2nd. Barclays initiated coverage on shares of AMETEK in a research note on Wednesday, September 10th. They issued an “equal weight” rating and a $200.00 target price for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of AMETEK in a research note on Wednesday, October 8th. Mizuho upped their target price on shares of AMETEK from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Finally, Melius lowered shares of AMETEK from a “buy” rating to a “hold” rating and set a $192.00 target price for the company. in a research note on Monday, July 14th. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $207.42.

AMETEK Price Performance

NYSE AME opened at $184.12 on Thursday. The company has a market cap of $42.52 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 2.66 and a beta of 1.11. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week high of $198.33. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.15. The firm’s 50-day simple moving average is $186.13 and its two-hundred day simple moving average is $180.19.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, July 31st. The technology company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.69 by $0.09. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a net margin of 20.60% and a return on equity of 16.53%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.66 earnings per share. Research analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.24 annualized dividend and a yield of 0.7%. AMETEK’s dividend payout ratio is 19.97%.

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.