Procyon Advisors LLC Boosts Holdings in AMETEK, Inc. (NYSE:AME)

Procyon Advisors LLC boosted its stake in shares of AMETEK, Inc. (NYSE:AME) by 6.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,283 shares of the technology company’s stock after purchasing an additional 137 shares during the period. Procyon Advisors LLC’s holdings in AMETEK were worth $393,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AME. Portside Wealth Group LLC raised its position in AMETEK by 26.5% during the first quarter. Portside Wealth Group LLC now owns 3,806 shares of the technology company’s stock valued at $686,000 after acquiring an additional 798 shares in the last quarter. Unigestion Holding SA increased its holdings in shares of AMETEK by 89.5% during the 1st quarter. Unigestion Holding SA now owns 10,000 shares of the technology company’s stock valued at $1,721,000 after purchasing an additional 4,724 shares in the last quarter. Merit Financial Group LLC lifted its stake in shares of AMETEK by 310.1% in the 1st quarter. Merit Financial Group LLC now owns 5,877 shares of the technology company’s stock valued at $1,012,000 after purchasing an additional 4,444 shares during the period. NBC Securities Inc. lifted its stake in shares of AMETEK by 101,500.0% in the 1st quarter. NBC Securities Inc. now owns 1,016 shares of the technology company’s stock valued at $174,000 after purchasing an additional 1,015 shares during the period. Finally, Czech National Bank boosted its holdings in AMETEK by 5.9% during the first quarter. Czech National Bank now owns 53,127 shares of the technology company’s stock worth $9,145,000 after buying an additional 2,974 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Stock Performance

NYSE AME opened at $178.44 on Monday. The firm has a market cap of $41.20 billion, a P/E ratio of 30.09, a P/E/G ratio of 2.73 and a beta of 1.10. The business’s 50-day moving average price is $169.22 and its 200 day moving average price is $178.68. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a 52-week low of $145.02 and a 52-week high of $198.33.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.06. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the company earned $1.64 EPS. On average, equities research analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.31 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.69%. AMETEK’s dividend payout ratio (DPR) is presently 20.29%.

Insiders Place Their Bets

In related news, Director Thomas A. Amato sold 710 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total transaction of $125,414.40. Following the transaction, the director now owns 10,560 shares in the company, valued at $1,865,318.40. This trade represents a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.57% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AME shares. Mizuho set a $212.00 price objective on shares of AMETEK in a research report on Friday, May 16th. Royal Bank of Canada increased their price target on AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Truist Financial raised their price objective on AMETEK from $196.00 to $200.00 and gave the company a “buy” rating in a report on Monday, May 5th. Robert W. Baird reduced their target price on AMETEK from $197.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Finally, Morgan Stanley began coverage on shares of AMETEK in a research note on Monday, April 14th. They issued an “equal weight” rating and a $170.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $197.89.

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.