AMETEK, Inc. (NYSE:AME) Shares Acquired by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. increased its stake in AMETEK, Inc. by 2.8% during the 1st quarter, owning approximately 5.75 million shares valued at nearly $990 million.
• AMETEK recently announced a quarterly dividend of $0.31 per share, reflecting an annual yield of 0.7% as part of its ongoing commitment to return value to shareholders.
• Following recent analyst upgrades, AMETEK's stock now has a consensus target price of $208.00, with multiple firms raising their price objectives and rating it as a "Moderate Buy."

JPMorgan Chase & Co. lifted its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 2.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,747,368 shares of the technology company's stock after buying an additional 154,682 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.49% of AMETEK worth $989,352,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Olde Wealth Management LLC acquired a new position in shares of AMETEK during the 1st quarter worth $29,000. Annis Gardner Whiting Capital Advisors LLC raised 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. Banque Transatlantique SA acquired a new position in shares of AMETEK during the 4th quarter worth $37,000. Minot DeBlois Advisors LLC acquired a new position in shares of AMETEK during the 4th quarter worth $43,000. Finally, Zions Bancorporation National Association UT purchased a new stake in AMETEK during the 1st quarter worth about $42,000. Institutional investors and hedge funds own 87.43% of the company's stock.

AMETEK Stock Down 0.2%

AME opened at $181.94 on Monday. 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 stock has a market capitalization of $42.02 billion, a price-to-earnings ratio of 29.30, a price-to-earnings-growth ratio of 2.63 and a beta of 1.10. The business has a 50-day moving average of $179.90 and a two-hundred day moving average of $176.91. AMETEK, Inc. has a 12 month low of $145.02 and a 12 month high of $198.33.

AMETEK (NYSE:AME - Get Free Report) last posted its quarterly 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 return on equity of 16.53% and a net margin of 20.60%. The company had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $1.74 billion. During the same quarter in the previous year, the business earned $1.66 EPS. The firm's revenue was up 2.5% on a year-over-year basis. On average, research analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.7%. AMETEK's payout ratio is currently 19.97%.

Analysts Set New Price Targets

A number of analysts recently commented on AME shares. Robert W. Baird lifted their price objective on AMETEK from $190.00 to $198.00 and gave the stock a "neutral" rating in a research report on Monday, August 4th. KeyCorp lifted their price objective on AMETEK from $195.00 to $205.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Mizuho lifted their price objective on AMETEK from $212.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Truist Financial lifted their price objective on AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Finally, Morgan Stanley lifted their price objective on AMETEK from $185.00 to $198.00 and gave the stock an "equal weight" rating in a research report on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $208.00.

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.

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