AMETEK, Inc. (NYSE:AME) Stake Lifted by M.D. Sass LLC

Key Points

• M.D. Sass LLC increased its stake in AMETEK, Inc. by 2.1% during the first quarter, owning a total of 366,994 shares valued at approximately $63.17 million.
• AMETEK reported earnings of $1.78 EPS for the last quarter, surpassing analysts' expectations, with a revenue of $1.78 billion, reflecting a 2.5% year-over-year increase.
• The company recently declared a quarterly dividend of $0.31 per share, which represents an annual yield of 0.7% and a payout ratio of 20.29%.

M.D. Sass LLC raised its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 366,994 shares of the technology company's stock after purchasing an additional 7,666 shares during the quarter. AMETEK comprises about 5.6% of M.D. Sass LLC's investment portfolio, making the stock its 6th biggest position. M.D. Sass LLC owned 0.16% of AMETEK worth $63,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC raised its position in AMETEK by 1.1% in the fourth quarter. FMR LLC now owns 8,956,329 shares of the technology company's stock valued at $1,614,468,000 after purchasing an additional 98,546 shares during the period. Capital World Investors raised its position in AMETEK by 70.0% in the fourth quarter. Capital World Investors now owns 5,760,017 shares of the technology company's stock valued at $1,038,301,000 after purchasing an additional 2,371,062 shares during the period. Flossbach Von Storch SE raised its position in AMETEK by 1.2% in the first quarter. Flossbach Von Storch SE now owns 3,770,066 shares of the technology company's stock valued at $648,979,000 after purchasing an additional 45,714 shares during the period. Northern Trust Corp increased its position in shares of AMETEK by 16.8% during the fourth quarter. Northern Trust Corp now owns 2,375,972 shares of the technology company's stock worth $428,293,000 after acquiring an additional 342,589 shares during the last quarter. Finally, EdgePoint Investment Group Inc. increased its position in shares of AMETEK by 14.6% during the fourth quarter. EdgePoint Investment Group Inc. now owns 2,250,797 shares of the technology company's stock worth $405,729,000 after acquiring an additional 286,561 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

AMETEK Stock Down 1.4%

NYSE:AME opened at $182.18 on Friday. The firm has a market capitalization of $42.06 billion, a PE ratio of 29.34, a price-to-earnings-growth ratio of 2.73 and a beta of 1.10. The stock has a 50 day moving average of $179.44 and a 200-day moving average of $176.99. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week high of $198.33. The company has a current ratio of 1.63, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15.

AMETEK (NYSE:AME - Get Free Report) last posted 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. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.74 billion. AMETEK had a return on equity of 16.53% and a net margin of 20.60%. The business's revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.66 earnings per share. Analysts predict that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Friday, June 13th. This represents a $1.24 annualized dividend and a dividend yield of 0.7%. AMETEK's payout ratio is currently 20.29%.

Analyst Upgrades and Downgrades

AME has been the topic of a number of analyst reports. KeyCorp lifted their target price on AMETEK from $195.00 to $205.00 and gave the stock an "overweight" rating in a research report on Friday. DA Davidson lifted their target price on AMETEK from $210.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday. Morgan Stanley initiated coverage on AMETEK in a research report on Monday, April 14th. They set an "equal weight" rating and a $170.00 target price on the stock. Melius Research raised AMETEK to a "hold" rating in a research report on Monday, July 14th. Finally, Truist Financial lifted their price target on AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, AMETEK presently has a consensus rating of "Moderate Buy" and an average target price of $200.18.

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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