AMETEK, Inc. (NYSE:AME) Shares Acquired by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel increased its stake in AMETEK, Inc. by 68.8%, now holding 21,941 shares valued at approximately $3.78 million.
• AMETEK reported a quarterly EPS of $1.75, exceeding estimates, despite a slight 0.2% decrease in revenue year-over-year.
• The company declared a quarterly dividend of $0.31 per share, representing an annualized yield of 0.69% with a payout ratio of 20.29%.

Carnegie Investment Counsel increased its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 68.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,941 shares of the technology company's stock after purchasing an additional 8,939 shares during the period. Carnegie Investment Counsel's holdings in AMETEK were worth $3,777,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank Pictet & Cie Europe AG grew its position in AMETEK by 23.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 183,024 shares of the technology company's stock valued at $32,992,000 after acquiring an additional 34,866 shares during the period. LPL Financial LLC grew its holdings in shares of AMETEK by 8.9% during the 4th quarter. LPL Financial LLC now owns 116,305 shares of the technology company's stock worth $20,965,000 after purchasing an additional 9,466 shares during the period. Korea Investment CORP grew its holdings in shares of AMETEK by 82.6% during the 4th quarter. Korea Investment CORP now owns 156,498 shares of the technology company's stock worth $28,210,000 after purchasing an additional 70,795 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of AMETEK by 8.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 361,057 shares of the technology company's stock worth $64,835,000 after purchasing an additional 29,145 shares during the period. Finally, Elo Mutual Pension Insurance Co grew its holdings in shares of AMETEK by 10.7% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 22,626 shares of the technology company's stock worth $4,079,000 after purchasing an additional 2,193 shares during the period. Hedge funds and other institutional investors own 87.43% of the company's stock.

AMETEK Stock Down 0.2%

NYSE AME traded down $0.45 on Monday, hitting $179.64. 370,876 shares of the stock traded hands, compared to its average volume of 1,361,753. The stock has a 50-day moving average of $179.34 and a 200 day moving average of $176.90. AMETEK, Inc. has a twelve month low of $145.02 and a twelve month high of $198.33. The company has a market capitalization of $41.48 billion, a P/E ratio of 29.41, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.06. AMETEK had a return on equity of 16.75% and a net margin of 20.43%. The firm had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.74 billion. During the same quarter in the prior year, the firm posted $1.64 earnings per share. 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 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Friday, June 13th. AMETEK's payout ratio is 20.29%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Morgan Stanley assumed coverage on AMETEK in a report on Monday, April 14th. They set an "equal weight" rating and a $170.00 target price for the company. Royal Bank Of Canada boosted their target price on AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Wall Street Zen raised AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Robert W. Baird decreased their target price on AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Finally, Mizuho set a $212.00 target price on AMETEK in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $197.30.

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.