AMETEK, Inc. (NYSE:AME) Shares Purchased by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC boosted its holdings in AMETEK, Inc. (NYSE:AMEGet Rating) by 22.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 521 shares of the technology company’s stock after purchasing an additional 96 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in AMETEK were worth $69,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Icapital Wealth LLC acquired a new stake in shares of AMETEK in the first quarter valued at approximately $32,000. Riverview Trust Co purchased a new stake in shares of AMETEK during the first quarter worth approximately $32,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of AMETEK during the fourth quarter worth approximately $35,000. Intelligent Financial Strategies purchased a new stake in shares of AMETEK during the fourth quarter worth approximately $35,000. Finally, Missouri Trust & Investment Co purchased a new stake in shares of AMETEK during the fourth quarter worth approximately $48,000. 86.72% of the stock is owned by institutional investors and hedge funds.

AMETEK Trading Up 1.1 %

Shares of AME stock opened at $126.24 on Thursday. AMETEK, Inc. has a fifty-two week low of $106.17 and a fifty-two week high of $148.07. The stock has a market cap of $29.15 billion, a P/E ratio of 28.18, a P/E/G ratio of 2.48 and a beta of 1.26. The business has a fifty day simple moving average of $115.11 and a 200-day simple moving average of $124.68. The company has a quick ratio of 0.88, a current ratio of 1.43 and a debt-to-equity ratio of 0.32.

AMETEK (NYSE:AMEGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The technology company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.09. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.46 billion. AMETEK had a return on equity of 17.82% and a net margin of 18.02%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the business posted $1.15 earnings per share. On average, analysts forecast that AMETEK, Inc. will post 5.43 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Friday, June 10th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Thursday, June 9th. AMETEK’s payout ratio is currently 19.64%.

AMETEK announced that its board has approved a share repurchase plan on Friday, May 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the technology company to buy up to 3.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have recently commented on AME shares. Loop Capital cut their price target on AMETEK from $170.00 to $155.00 and set a “buy” rating for the company in a research note on Tuesday, July 19th. Bank of America cut AMETEK from a “buy” rating to a “neutral” rating and cut their price target for the stock from $170.00 to $122.00 in a research note on Monday, July 11th. Royal Bank of Canada reiterated a “maintains” rating on shares of AMETEK in a research report on Wednesday. Mizuho increased their price objective on AMETEK from $135.00 to $140.00 and gave the stock a “maintains” rating in a research report on Wednesday. Finally, Robert W. Baird cut their price objective on AMETEK from $156.00 to $140.00 and set a “neutral” rating for the company in a research report on Tuesday, May 10th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, AMETEK has an average rating of “Moderate Buy” and a consensus price target of $151.20.

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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