Hohimer Wealth Management LLC Makes New $643,000 Investment in AMETEK, Inc. (NYSE:AME)

Hohimer Wealth Management LLC purchased a new stake in AMETEK, Inc. (NYSE:AME - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,736 shares of the technology company's stock, valued at approximately $643,000.

Several other hedge funds have also added to or reduced their stakes in the company. DAVENPORT & Co LLC boosted its holdings in AMETEK by 0.8% during the first quarter. DAVENPORT & Co LLC now owns 7,125 shares of the technology company's stock worth $1,226,000 after buying an additional 60 shares during the last quarter. Alps Advisors Inc. boosted its holdings in AMETEK by 1.0% during the first quarter. Alps Advisors Inc. now owns 6,260 shares of the technology company's stock worth $1,078,000 after buying an additional 60 shares during the last quarter. EWA LLC boosted its holdings in AMETEK by 4.9% during the first quarter. EWA LLC now owns 1,382 shares of the technology company's stock worth $238,000 after buying an additional 65 shares during the last quarter. Kensington Investment Counsel LLC boosted its holdings in AMETEK by 0.5% during the fourth quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company's stock worth $2,574,000 after buying an additional 66 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in AMETEK by 1.5% during the first quarter. Signaturefd LLC now owns 4,625 shares of the technology company's stock worth $796,000 after buying an additional 67 shares during the last quarter. Institutional investors own 87.43% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Robert W. Baird reduced their target price on AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Melius cut AMETEK from a "buy" rating to a "hold" rating and set a $192.00 target price on the stock. in a report on Monday. Wall Street Zen upgraded AMETEK from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Royal Bank Of Canada raised their price target on AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, Melius Research raised AMETEK to a "hold" rating in a research report on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $197.30.

AMETEK Stock Down 0.7%

AMETEK stock traded down $1.29 during midday trading on Friday, reaching $178.41. The stock had a trading volume of 450,402 shares, compared to its average volume of 1,305,181. The firm's fifty day simple moving average is $179.29 and its 200-day simple moving average is $176.92. AMETEK, Inc. has a 1-year low of $145.02 and a 1-year high of $198.33. The stock has a market capitalization of $41.19 billion, a P/E ratio of 29.20, a price-to-earnings-growth ratio of 2.65 and a beta of 1.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.41.

AMETEK (NYSE:AME - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.69 by $0.06. AMETEK had a return on equity of 16.75% and a net margin of 20.43%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the firm earned $1.64 EPS. AMETEK's revenue for the quarter was down .2% compared to the same quarter last year. As a group, analysts expect that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Dividend Announcement

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

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.