Alps Advisors Inc. Boosts Stock Position in AMETEK, Inc. (NYSE:AME)

Alps Advisors Inc. boosted its holdings in AMETEK, Inc. (NYSE:AME) by 1.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,260 shares of the technology company’s stock after buying an additional 60 shares during the period. Alps Advisors Inc.’s holdings in AMETEK were worth $1,078,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Olde Wealth Management LLC acquired a new stake in AMETEK in the 1st quarter worth about $29,000. Banque Transatlantique SA acquired a new stake in AMETEK in the 4th quarter worth about $37,000. Minot DeBlois Advisors LLC acquired a new stake in AMETEK in the 4th quarter worth about $43,000. Golden State Wealth Management LLC boosted its stake in AMETEK by 201.0% in the 1st quarter. Golden State Wealth Management LLC now owns 295 shares of the technology company’s stock worth $51,000 after buying an additional 197 shares during the last quarter. Finally, Ancora Advisors LLC boosted its stake in AMETEK by 15,950.0% in the 4th quarter. Ancora Advisors LLC now owns 321 shares of the technology company’s stock worth $58,000 after buying an additional 319 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Stock Performance

Shares of NYSE:AME opened at $180.99 on Monday. The company has a market cap of $41.79 billion, a P/E ratio of 29.62, a PEG ratio of 2.71 and a beta of 1.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.41. AMETEK, Inc. has a one year low of $145.02 and a one year high of $198.33. The business’s 50-day simple moving average is $178.66 and its 200 day simple moving average is $176.96.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.69 by $0.06. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a return on equity of 16.75% and a net margin of 20.43%. The company’s revenue was down .2% on a year-over-year basis. During the same period last year, the business posted $1.64 EPS. On average, sell-side analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.24 annualized dividend and a yield of 0.69%. AMETEK’s dividend payout ratio is presently 20.29%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AME shares. Royal Bank Of Canada raised their price target on AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Truist Financial lifted their price objective on AMETEK from $196.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Wall Street Zen raised AMETEK from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Robert W. Baird reduced their price objective on AMETEK from $197.00 to $190.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Finally, Mizuho set a $212.00 price objective on AMETEK in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AMETEK presently has a consensus rating of “Moderate Buy” and an average 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.