PFG Advisors Acquires 309 Shares of AMETEK, Inc. (NYSE:AME)

PFG Advisors lifted its holdings in AMETEK, Inc. (NYSE:AME) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,610 shares of the technology company’s stock after buying an additional 309 shares during the period. PFG Advisors’ holdings in AMETEK were worth $3,436,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Private Advisor Group LLC increased its position in shares of AMETEK by 5.1% during the 4th quarter. Private Advisor Group LLC now owns 9,000 shares of the technology company’s stock valued at $1,484,000 after purchasing an additional 435 shares during the last quarter. Principal Securities Inc. bought a new position in AMETEK during the 4th quarter valued at about $239,000. QRG Capital Management Inc. raised its position in AMETEK by 5.9% in the 4th quarter. QRG Capital Management Inc. now owns 10,414 shares of the technology company’s stock worth $1,717,000 after purchasing an additional 582 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in shares of AMETEK by 8.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,905 shares of the technology company’s stock valued at $2,293,000 after buying an additional 1,104 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of AMETEK by 6.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 224,958 shares of the technology company’s stock worth $36,128,000 after acquiring an additional 12,793 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AME. Robert W. Baird decreased their target price on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Truist Financial dropped their target price on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Oppenheimer raised AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research note on Wednesday, May 22nd. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Finally, TD Cowen lowered their price objective on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AMETEK currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.29.

AMETEK Stock Up 0.2 %

Shares of AMETEK stock opened at $165.22 on Thursday. The company has a market cap of $38.26 billion, a P/E ratio of 29.04, a PEG ratio of 2.68 and a beta of 1.17. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The firm’s 50 day moving average price is $166.20 and its 200-day moving average price is $171.84.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.02. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.57 EPS. On average, sell-side analysts predict that AMETEK, Inc. will post 6.77 EPS for the current fiscal year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. AMETEK’s dividend payout ratio is currently 19.68%.

About AMETEK

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.