Invesco Ltd. Purchases 1,947,831 Shares of AMETEK, Inc. (NYSE:AME)

Key Points

• Invesco Ltd. significantly increased its stake in AMETEK, Inc. by 127.2%, owning approximately 1.51% of the company with a value of about $598.9 million.
• Analysts have raised their price targets for AMETEK, with updates from firms like Morgan Stanley and Royal Bank of Canada, leading to a consensus average target of $208 and an overall rating of "Moderate Buy."
• AMETEK recently announced a quarterly dividend of $0.31 per share, which represents a yield of 0.7% and reflects a payout ratio of 19.97%.

Invesco Ltd. raised its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 127.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,479,397 shares of the technology company's stock after purchasing an additional 1,947,831 shares during the quarter. Invesco Ltd. owned about 1.51% of AMETEK worth $598,943,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AME. Vanguard Group Inc. lifted its holdings in shares of AMETEK by 1.3% in the first quarter. Vanguard Group Inc. now owns 26,484,263 shares of the technology company's stock valued at $4,559,001,000 after purchasing an additional 336,491 shares in the last quarter. Capital World Investors lifted its holdings in shares of 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 in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of AMETEK by 2.8% during the first quarter. JPMorgan Chase & Co. now owns 5,747,368 shares of the technology company's stock worth $989,352,000 after acquiring an additional 154,682 shares in the last quarter. Flossbach Von Storch SE raised its holdings in shares of AMETEK by 1.2% during the first quarter. Flossbach Von Storch SE now owns 3,770,066 shares of the technology company's stock worth $648,979,000 after acquiring an additional 45,714 shares in the last quarter. Finally, Northern Trust Corp raised its holdings 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 in the last quarter. 87.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wall Street Zen upgraded AMETEK from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Melius downgraded AMETEK from a "buy" rating to a "hold" rating and set a $192.00 price target on the stock. in a research report on Monday, July 14th. KeyCorp raised their price target on AMETEK from $195.00 to $205.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Morgan Stanley lifted their target price on AMETEK from $185.00 to $198.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Finally, Mizuho lifted their target price on AMETEK from $212.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. One equities research 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. Based on data from MarketBeat, AMETEK currently has a consensus rating of "Moderate Buy" and a consensus target price of $208.00.

AMETEK Price Performance

Shares of NYSE:AME traded up $1.96 during trading on Wednesday, reaching $186.90. The stock had a trading volume of 1,139,697 shares, compared to its average volume of 1,383,367. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week high of $198.33. The business's 50-day moving average price is $180.16 and its 200 day moving average price is $176.93. 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 $43.17 billion, a PE ratio of 30.10, a P/E/G ratio of 2.63 and a beta of 1.10.

AMETEK (NYSE:AME - Get Free Report) last issued 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 analysts' expectations of $1.74 billion. AMETEK had a net margin of 20.60% and a return on equity of 16.53%. The business's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.66 EPS. As a group, equities analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.31 per share. The ex-dividend date is Monday, September 15th. This represents a $1.24 annualized dividend and a dividend yield of 0.7%. AMETEK's payout ratio is presently 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.