Versor Investments LP Makes New Investment in AMETEK, Inc. (NYSE:AME)

Versor Investments LP bought a new position in shares of AMETEK, Inc. (NYSE:AMEGet Rating) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,700 shares of the technology company’s stock, valued at approximately $226,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of AMETEK in the fourth quarter valued at approximately $35,550,000. Illinois Municipal Retirement Fund grew its position in shares of AMETEK by 32.6% in the fourth quarter. Illinois Municipal Retirement Fund now owns 6,928 shares of the technology company’s stock valued at $1,019,000 after purchasing an additional 1,703 shares during the last quarter. Yousif Capital Management LLC acquired a new stake in shares of AMETEK in the fourth quarter valued at approximately $6,044,000. CWM LLC acquired a new stake in shares of AMETEK in the fourth quarter valued at approximately $84,000. Finally, Xponance Inc. grew its position in shares of AMETEK by 24.8% in the fourth quarter. Xponance Inc. now owns 14,602 shares of the technology company’s stock valued at $2,147,000 after purchasing an additional 2,906 shares during the last quarter. 86.72% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Stock Performance

NYSE:AME opened at $123.50 on Monday. The firm’s 50 day moving average is $114.76 and its two-hundred day moving average is $124.80. AMETEK, Inc. has a fifty-two week low of $106.17 and a fifty-two week high of $148.07. The company has a quick ratio of 0.88, a current ratio of 1.43 and a debt-to-equity ratio of 0.32. The company has a market cap of $28.52 billion, a P/E ratio of 27.57, a P/E/G ratio of 2.36 and a beta of 1.26.

AMETEK (NYSE:AMEGet Rating) last issued its earnings results on Tuesday, May 3rd. The technology company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.06. AMETEK had a net margin of 18.02% and a return on equity of 17.82%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the firm posted $1.07 EPS. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. Analysts expect that AMETEK, Inc. will post 5.43 EPS for the current year.

AMETEK declared that its Board of Directors has approved a share buyback plan on Friday, May 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

AMETEK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Friday, June 10th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Thursday, June 9th. AMETEK’s dividend payout ratio is presently 19.64%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Mizuho reduced their price objective on shares of AMETEK from $159.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday, July 18th. KeyCorp reduced their price objective on shares of AMETEK from $155.00 to $145.00 in a research note on Wednesday, May 4th. Robert W. Baird reduced their price objective on shares of AMETEK from $156.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 10th. Bank of America downgraded shares of AMETEK from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $170.00 to $122.00 in a research note on Monday, July 11th. Finally, Loop Capital reduced their price objective on shares of AMETEK from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Tuesday, July 19th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $149.70.

AMETEK Company Profile

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AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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