Quantinno Capital Management LP Boosts Holdings in AMETEK, Inc. $AME

Quantinno Capital Management LP boosted its holdings in shares of AMETEK, Inc. (NYSE:AME) by 27.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 160,562 shares of the technology company’s stock after acquiring an additional 34,149 shares during the period. Quantinno Capital Management LP’s holdings in AMETEK were worth $34,418,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of AME. State Street Corp increased its stake in shares of AMETEK by 2.0% during the 4th quarter. State Street Corp now owns 9,956,361 shares of the technology company’s stock worth $2,044,140,000 after purchasing an additional 192,677 shares in the last quarter. Geode Capital Management LLC lifted its stake in AMETEK by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 5,891,236 shares of the technology company’s stock valued at $1,204,722,000 after buying an additional 37,651 shares in the last quarter. Invesco Ltd. lifted its stake in AMETEK by 4.9% in the 3rd quarter. Invesco Ltd. now owns 4,463,518 shares of the technology company’s stock valued at $839,141,000 after buying an additional 209,043 shares in the last quarter. Norges Bank acquired a new stake in AMETEK during the 4th quarter valued at $831,372,000. Finally, Morgan Stanley increased its position in AMETEK by 2.9% during the fourth quarter. Morgan Stanley now owns 3,963,062 shares of the technology company’s stock worth $813,657,000 after buying an additional 110,037 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Analyst Ratings Changes

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

AMETEK Stock Up 2.0%

Shares of NYSE:AME opened at $239.93 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.72 and a debt-to-equity ratio of 0.10. The firm has a market cap of $54.99 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 3.30 and a beta of 0.99. The stock’s 50-day moving average price is $233.22 and its two-hundred day moving average price is $228.42. AMETEK, Inc. has a 12-month low of $179.24 and a 12-month high of $244.71.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, April 30th. The technology company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.91 billion. AMETEK had a net margin of 20.11% and a return on equity of 16.63%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.75 EPS. On average, research analysts forecast that AMETEK, Inc. will post 8.14 EPS for the current year.

AMETEK Announces Dividend

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

AMETEK Company Profile

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.