Assetmark Inc. Increases Position in AMETEK, Inc. (NYSE:AME)

Key Points

• Assetmark Inc. increased its holdings in AMETEK by 11.1% in the first quarter, now owning 71,556 shares valued at approximately $12.3 million.
• AMETEK recently reported earnings of $1.75 EPS, surpassing the consensus estimate by $0.06, despite revenue being down 0.2% year-over-year.
• The stock currently has an average rating of "Moderate Buy" from analysts, with a price target average of $197.30.

Assetmark Inc. raised its position in AMETEK, Inc. (NYSE:AME - Free Report) by 11.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 71,556 shares of the technology company's stock after purchasing an additional 7,156 shares during the period. Assetmark Inc.'s holdings in AMETEK were worth $12,318,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Olde Wealth Management LLC bought a new position in AMETEK during the 1st quarter worth approximately $29,000. Banque Transatlantique SA bought a new stake in AMETEK during the 4th quarter valued at $37,000. Minot DeBlois Advisors LLC bought a new stake in AMETEK during the 4th quarter valued at $43,000. Golden State Wealth Management LLC increased its position in shares of AMETEK by 201.0% during the 1st quarter. Golden State Wealth Management LLC now owns 295 shares of the technology company's stock valued at $51,000 after purchasing an additional 197 shares during the period. Finally, Ancora Advisors LLC increased its position in shares of AMETEK by 15,950.0% during the 4th quarter. Ancora Advisors LLC now owns 321 shares of the technology company's stock valued at $58,000 after purchasing an additional 319 shares during the period. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

AMETEK Stock Down 1.1%

NYSE AME traded down $1.97 during trading hours on Wednesday, hitting $176.99. The company's stock had a trading volume of 431,925 shares, compared to its average volume of 1,362,755. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week high of $198.33. The company has a market capitalization of $40.86 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 2.68 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. The company's 50-day simple moving average is $179.25 and its two-hundred day simple moving average is $176.93.

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

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Friday, June 13th. AMETEK's dividend payout ratio is currently 20.29%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on AME shares. Royal Bank Of Canada lifted their price target on AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Mizuho set a $212.00 price objective on AMETEK in a research note on Friday, May 16th. Robert W. Baird lowered their price target on AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Truist Financial upped their price objective on AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Wall Street Zen raised AMETEK from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AMETEK presently has a consensus rating of "Moderate Buy" and a consensus 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.