Norden Group LLC Purchases 154 Shares of AMETEK, Inc. (NYSE:AME)

Norden Group LLC grew its stake in shares of AMETEK, Inc. (NYSE:AME) by 6.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,498 shares of the technology company’s stock after buying an additional 154 shares during the period. Norden Group LLC’s holdings in AMETEK were worth $430,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in AME. Capital World Investors raised its position in shares of AMETEK by 70.0% during the fourth quarter. Capital World Investors now owns 5,760,017 shares of the technology company’s stock valued at $1,038,301,000 after buying an additional 2,371,062 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of AMETEK by 393.1% during the fourth quarter. Lazard Asset Management LLC now owns 1,215,087 shares of the technology company’s stock valued at $219,030,000 after buying an additional 968,661 shares during the last quarter. GAMMA Investing LLC raised its position in shares of AMETEK by 18,368.3% during the first quarter. GAMMA Investing LLC now owns 973,280 shares of the technology company’s stock valued at $167,540,000 after buying an additional 968,010 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new position in shares of AMETEK during the first quarter valued at about $113,317,000. Finally, Alteri Wealth LLC acquired a new position in AMETEK in the fourth quarter worth about $114,769,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Stock Performance

NYSE AME opened at $176.64 on Thursday. AMETEK, Inc. has a 1-year low of $145.02 and a 1-year high of $198.33. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $179.23 and a 200-day moving average of $176.93. The firm has a market cap of $40.78 billion, a price-to-earnings ratio of 28.91, a PEG ratio of 2.68 and a beta of 1.09.

AMETEK (NYSE:AME) last released its quarterly 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. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the firm earned $1.64 earnings per share. AMETEK’s revenue was down .2% compared to the same quarter last year. On average, equities analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a dividend of $0.31 per share. The ex-dividend date was Friday, June 13th. This represents a $1.24 annualized dividend and a dividend yield of 0.70%. AMETEK’s dividend payout ratio (DPR) is currently 20.29%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AME shares. Wall Street Zen raised shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Royal Bank Of Canada increased their price target on shares of AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Truist Financial increased their price target on shares of AMETEK from $196.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Melius Research raised shares of AMETEK to a “hold” rating in a research report on Monday, July 14th. Finally, Mizuho set a $212.00 price target on shares of AMETEK in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $197.30.

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.