Goldman Sachs Group Inc. Buys 484,803 Shares of AMETEK, Inc. $AME

Key Points

• Goldman Sachs Group Inc. increased its stake in AMETEK by 28.6%, owning approximately 2.18 million shares valued at $374.96 million by the end of Q1 2023.
• AMETEK reported a quarterly earnings beat with $1.78 EPS compared to an expected $1.69, alongside a revenue of $1.78 billion.
• The company announced a quarterly dividend of $0.31 per share, set to be paid on September 30, 2023, reflecting an annualized yield of 0.7%.

Goldman Sachs Group Inc. raised its position in AMETEK, Inc. (NYSE:AME - Free Report) by 28.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,178,233 shares of the technology company's stock after acquiring an additional 484,803 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.94% of AMETEK worth $374,961,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of AME. Bares Capital Management Inc. acquired a new stake in shares of AMETEK during the 1st quarter worth about $26,000. Olde Wealth Management LLC acquired a new stake in shares of AMETEK during the 1st quarter worth about $29,000. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of AMETEK by 57.7% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 194 shares of the technology company's stock worth $33,000 after buying an additional 71 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of AMETEK during the 1st quarter worth about $42,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of AMETEK during the 4th quarter worth about $43,000. Institutional investors and hedge funds own 87.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AME shares. Robert W. Baird raised their target price on shares of AMETEK from $190.00 to $198.00 and gave the stock a "neutral" rating in a research note on Monday, August 4th. Melius Research upgraded shares of AMETEK to a "hold" rating in a research note on Monday, July 14th. TD Cowen upgraded shares of AMETEK from a "sell" rating to a "hold" rating and lifted their price objective for the stock from $158.00 to $180.00 in a research note on Tuesday, September 2nd. Barclays began coverage on shares of AMETEK in a research note on Wednesday. They issued an "equal weight" rating and a $200.00 price objective for the company. Finally, KeyCorp lifted their price objective on shares of AMETEK from $195.00 to $205.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, AMETEK presently has a consensus rating of "Moderate Buy" and a consensus price target of $205.00.

AMETEK Stock Performance

AMETEK stock traded down $2.08 during midday trading on Friday, hitting $189.95. The company's stock had a trading volume of 813,138 shares, compared to its average volume of 1,035,186. AMETEK, Inc. has a 1-year low of $145.02 and a 1-year high of $198.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.63 and a quick ratio of 1.04. The company has a 50-day moving average price of $183.25 and a two-hundred day moving average price of $177.06. The company has a market cap of $43.87 billion, a price-to-earnings ratio of 30.59, 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, July 31st. The technology company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.69 by $0.09. AMETEK had a net margin of 20.60% and a return on equity of 16.53%. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the firm earned $1.66 EPS. The business's quarterly revenue was up 2.5% compared to the same quarter last year. AMETEK has set its Q3 2025 guidance at 1.720-1.760 EPS. FY 2025 guidance at 7.060-7.200 EPS. As a group, sell-side analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, September 15th. AMETEK's dividend payout ratio (DPR) is currently 19.97%.

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.