Argent Capital Management LLC Grows Stock Holdings in AMETEK, Inc. $AME

Argent Capital Management LLC grew its position in shares of AMETEK, Inc. (NYSE:AME) by 48.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,528 shares of the technology company’s stock after acquiring an additional 10,928 shares during the period. Argent Capital Management LLC’s holdings in AMETEK were worth $7,187,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Y.D. More Investments Ltd acquired a new position in shares of AMETEK during the fourth quarter worth about $1,653,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of AMETEK by 6.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 487,238 shares of the technology company’s stock valued at $101,901,000 after buying an additional 28,621 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in shares of AMETEK during the 4th quarter valued at about $1,027,000. Massachusetts Financial Services Co. MA raised its holdings in shares of AMETEK by 10.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 959,937 shares of the technology company’s stock valued at $197,085,000 after buying an additional 94,544 shares during the period. Finally, Factory Mutual Insurance Co. lifted its position in AMETEK by 6.6% during the 4th quarter. Factory Mutual Insurance Co. now owns 215,100 shares of the technology company’s stock worth $44,162,000 after acquiring an additional 13,300 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors.

AMETEK Price Performance

Shares of AME stock opened at $242.19 on Friday. The firm has a market cap of $55.51 billion, a P/E ratio of 36.58, a P/E/G ratio of 3.36 and a beta of 0.99. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.14 and a quick ratio of 0.72. AMETEK, Inc. has a 1-year low of $179.24 and a 1-year high of $244.97. The firm has a fifty day moving average of $233.57 and a two-hundred day moving average of $228.52.

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

AMETEK Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays increased their price objective on shares of AMETEK from $220.00 to $230.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Wall Street Zen cut shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Citigroup began coverage on shares of AMETEK in a research note on Monday, June 15th. They issued a “neutral” rating and a $257.00 target price for the company. Robert W. Baird set a $244.00 price target on shares of AMETEK in a report on Friday, May 1st. Finally, Royal Bank Of Canada lifted their price target on shares of AMETEK from $259.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. One research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.