Petredis Investment Advisors LLC Grows Stock Position in AMETEK, Inc. (NYSE:AME)

Petredis Investment Advisors LLC raised its position in AMETEK, Inc. (NYSE:AME) by 0.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,735 shares of the technology company’s stock after acquiring an additional 208 shares during the quarter. Petredis Investment Advisors LLC’s holdings in AMETEK were worth $5,463,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Banque Transatlantique SA acquired a new position in shares of AMETEK in the fourth quarter worth about $37,000. OFI Invest Asset Management acquired a new position in shares of AMETEK in the 4th quarter valued at approximately $43,000. Minot DeBlois Advisors LLC purchased a new position in shares of AMETEK during the 4th quarter valued at approximately $43,000. Quent Capital LLC grew its position in shares of AMETEK by 60.9% during the fourth quarter. Quent Capital LLC now owns 251 shares of the technology company’s stock worth $45,000 after buying an additional 95 shares in the last quarter. Finally, Ancora Advisors LLC increased its stake in shares of AMETEK by 15,950.0% in the fourth 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. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Stock Performance

Shares of NYSE AME opened at $178.64 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $169.34 and its two-hundred day moving average price is $178.55. AMETEK, Inc. has a 52-week low of $145.02 and a 52-week high of $198.33. The stock has a market capitalization of $41.24 billion, a P/E ratio of 30.12, a P/E/G ratio of 2.73 and a beta of 1.10.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.06. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. 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 EPS. The business’s quarterly revenue was down .2% on a year-over-year basis. As a group, sell-side analysts forecast 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. Shareholders of record on Friday, June 13th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Friday, June 13th. AMETEK’s payout ratio is 20.29%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Morgan Stanley assumed coverage on shares of AMETEK in a research note on Monday, April 14th. They set an “equal weight” rating and a $170.00 price objective on the stock. 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. Wall Street Zen upgraded AMETEK from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Robert W. Baird cut 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 target price on AMETEK in a research report on Friday, May 16th. One research 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $197.89.

Insider Activity

In other AMETEK news, Director Thomas A. Amato sold 710 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $176.64, for a total value of $125,414.40. Following the completion of the transaction, the director now owns 10,560 shares in the company, valued at approximately $1,865,318.40. This represents a 6.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.57% of the company’s stock.

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.