Pallas Capital Advisors LLC Makes New Investment in AMETEK, Inc. (NYSE:AME)

Pallas Capital Advisors LLC bought a new position in shares of AMETEK, Inc. (NYSE:AME - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,874 shares of the technology company's stock, valued at approximately $323,000.

Several other hedge funds have also modified their holdings of the stock. Norges Bank purchased a new position in shares of AMETEK during the 4th quarter valued at $697,080,000. Capital World Investors boosted its position in 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 purchasing an additional 2,371,062 shares during the last quarter. Lazard Asset Management LLC grew its stake in AMETEK by 393.1% in 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 purchasing an additional 968,661 shares in the last quarter. GAMMA Investing LLC increased its position in AMETEK by 18,368.3% in the 1st quarter. GAMMA Investing LLC now owns 973,280 shares of the technology company's stock worth $167,540,000 after purchasing an additional 968,010 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of AMETEK by 240.3% during the 4th quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company's stock worth $202,805,000 after purchasing an additional 794,473 shares in the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on AME. Robert W. Baird lowered their price target on AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Truist Financial lifted their target price on shares of AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, May 5th. 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 note on Friday, May 2nd. Wall Street Zen upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, Mizuho set a $212.00 price objective on shares of AMETEK in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AMETEK has an average rating of "Moderate Buy" and an average target price of $197.89.

AMETEK Stock Performance

AMETEK stock traded down $3.25 on Friday, reaching $176.72. 1,261,500 shares of the stock were exchanged, compared to its average volume of 1,291,261. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a twelve month low of $145.02 and a twelve month high of $198.33. The firm has a fifty day moving average price of $170.81 and a two-hundred day moving average price of $178.45. The stock has a market cap of $40.80 billion, a PE ratio of 29.80, a PEG ratio of 2.73 and a beta of 1.10.

AMETEK (NYSE:AME - Get Free Report) last released 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 firm had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.74 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The business's quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.64 EPS. Sell-side analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.31 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.70%. AMETEK's dividend payout ratio is currently 20.29%.

Insider Transactions at AMETEK

In related news, Director Thomas A. Amato sold 710 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was 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 directly owns 10,560 shares of the company's stock, valued at $1,865,318.40. This trade represents a 6.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.57% of the stock is owned by insiders.

AMETEK 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.