Bull Harbor Capital LLC Acquires New Shares in AMETEK, Inc. $AME

Bull Harbor Capital LLC acquired a new position in shares of AMETEK, Inc. (NYSE:AME) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,263 shares of the technology company’s stock, valued at approximately $699,000.

Other hedge funds also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new stake in shares of AMETEK during the second quarter valued at approximately $25,000. CoreCap Advisors LLC increased its position in AMETEK by 84.3% in the 4th quarter. CoreCap Advisors LLC now owns 129 shares of the technology company’s stock valued at $26,000 after acquiring an additional 59 shares during the period. MV Capital Management Inc. bought a new stake in AMETEK during the 4th quarter valued at $28,000. Brown Lisle Cummings Inc. boosted its position in 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 acquiring an additional 123 shares during the period. Finally, BOKF NA grew its stake in shares of AMETEK by 137.7% in the fourth quarter. BOKF NA now owns 145 shares of the technology company’s stock worth $30,000 after purchasing an additional 84 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors.

AMETEK Trading Up 2.0%

Shares of NYSE:AME opened at $239.93 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.72 and a current ratio of 1.14. The stock has a market capitalization of $54.99 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 3.30 and a beta of 0.99. AMETEK, Inc. has a 1-year low of $179.24 and a 1-year high of $244.71. The company has a 50 day moving average price of $233.22 and a 200 day moving average price of $228.42.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, April 30th. The technology company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.07. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.91 billion. AMETEK had a return on equity of 16.63% and a net margin of 20.11%.The firm’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.75 earnings per share. On average, research analysts anticipate that AMETEK, Inc. will post 8.14 EPS for the current fiscal year.

AMETEK Dividend Announcement

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 $0.34 dividend. This represents a $1.36 annualized dividend 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%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Truist Financial lifted their price objective on shares of AMETEK from $275.00 to $303.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Robert W. Baird set a $244.00 target price on shares of AMETEK in a research note on Friday, May 1st. Barclays boosted their price target on shares of AMETEK from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Morgan Stanley increased their price objective on shares of AMETEK from $235.00 to $245.00 and gave the company an “equal weight” rating in a report on Friday, July 10th. Finally, Citigroup assumed coverage on shares of AMETEK in a research note on Monday, June 15th. They set a “neutral” rating and a $257.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $256.29.

AMETEK Company 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.