Groupe la Francaise Takes Position in AMETEK, Inc. $AME

Groupe la Francaise acquired a new position in shares of AMETEK, Inc. (NYSE:AME) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 133,546 shares of the technology company’s stock, valued at approximately $28,566,000.

Other hedge funds have also added to or reduced their stakes in the company. Darwin Wealth Management LLC purchased a new stake in shares of AMETEK in the second quarter worth about $25,000. CoreCap Advisors LLC increased its holdings in AMETEK by 84.3% during the 4th quarter. CoreCap Advisors LLC now owns 129 shares of the technology company’s stock worth $26,000 after acquiring an additional 59 shares during the period. MV Capital Management Inc. bought a new position in AMETEK in the 4th quarter valued at $28,000. Brown Lisle Cummings Inc. grew its position in shares of AMETEK by 878.6% during the 1st quarter. Brown Lisle Cummings Inc. now owns 137 shares of the technology company’s stock valued at $29,000 after purchasing an additional 123 shares in the last quarter. Finally, BOKF NA increased its holdings in shares of AMETEK by 137.7% in the fourth quarter. BOKF NA now owns 145 shares of the technology company’s stock worth $30,000 after purchasing an additional 84 shares during the period. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AME has been the topic of a number of recent analyst reports. Truist Financial increased their price objective on AMETEK from $275.00 to $303.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Robert W. Baird set a $244.00 price target on AMETEK in a report on Friday, May 1st. Citigroup began coverage on AMETEK in a report on Monday, June 15th. They set a “neutral” rating and a $257.00 price objective for the company. Royal Bank Of Canada upped their price objective on shares of AMETEK from $259.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Finally, Morgan Stanley lifted their target price on shares of AMETEK from $235.00 to $245.00 and gave the company an “equal weight” rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $256.29.

AMETEK Price Performance

AME stock opened at $239.93 on Friday. The firm has a market cap of $54.99 billion, a P/E ratio of 36.24, a P/E/G ratio of 3.30 and a beta of 0.99. The firm’s fifty day moving average is $233.22 and its 200 day moving average is $228.42. AMETEK, Inc. has a 52 week low of $179.24 and a 52 week high of $244.71. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.72 and a current ratio of 1.14.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, April 30th. The technology company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.07. AMETEK had a net margin of 20.11% and a return on equity of 16.63%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the firm posted $1.75 earnings per share. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. Research analysts predict that AMETEK, Inc. will post 8.14 earnings per share for the current year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.34 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.6%. AMETEK’s payout ratio is currently 20.54%.

About AMETEK

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.

The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.