CCM Investment Advisers LLC Takes $6.37 Million Position in AMETEK, Inc. $AME

Key Points

• CCM Investment Advisers initiated a new AMETEK position worth approximately $6.37 million, purchasing 29,710 shares in the first quarter. Institutional investors collectively own 87.43% of the company.
• AMETEK reported quarterly earnings of $1.97 per share, exceeding estimates of $1.90, while revenue rose 11.3% year over year to $1.93 billion.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $256.29, above the stock’s reported $239.93 price; AMETEK also pays a $0.34 quarterly dividend.

CCM Investment Advisers LLC bought a new position in shares of AMETEK, Inc. (NYSE:AME - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 29,710 shares of the technology company's stock, valued at approximately $6,369,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AME. Darwin Wealth Management LLC purchased a new stake in AMETEK during the second quarter worth about $25,000. CoreCap Advisors LLC boosted its stake in shares of AMETEK by 84.3% in the fourth quarter. CoreCap Advisors LLC now owns 129 shares of the technology company's stock valued at $26,000 after purchasing an additional 59 shares during the period. MV Capital Management Inc. acquired a new position in shares of AMETEK in the fourth quarter valued at approximately $28,000. Brown Lisle Cummings Inc. increased its stake in AMETEK by 878.6% during the 1st quarter. Brown Lisle Cummings Inc. now owns 137 shares of the technology company's stock worth $29,000 after buying an additional 123 shares during the period. Finally, BOKF NA increased its stake in AMETEK by 137.7% during the 4th quarter. BOKF NA now owns 145 shares of the technology company's stock worth $30,000 after buying an additional 84 shares during the period. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

AMETEK Trading Up 2.0%

NYSE:AME opened at $239.93 on Friday. AMETEK, Inc. has a 1 year low of $179.24 and a 1 year high of $244.71. The stock has a market cap of $54.99 billion, a P/E ratio of 36.24, a P/E/G ratio of 3.30 and a beta of 0.99. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.72 and a current ratio of 1.14. The stock has a 50-day simple moving average of $233.22 and a 200-day simple moving average of $228.42.

AMETEK (NYSE:AME - Get Free Report) last posted its earnings results on Thursday, April 30th. The technology company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.07. The firm had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.91 billion. AMETEK had a return on equity of 16.63% and a net margin of 20.11%.The firm's revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.75 earnings per share. As a group, analysts anticipate that AMETEK, Inc. will post 8.14 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, June 15th. AMETEK's payout ratio is currently 20.54%.

Analysts Set New Price Targets

AME has been the subject of several research reports. Rothschild & Co Redburn set a $265.00 price target on shares of AMETEK in a research note on Thursday, June 18th. Royal Bank Of Canada lifted their target price on AMETEK from $259.00 to $260.00 and gave the company an "outperform" rating in a report on Friday, May 1st. Weiss Ratings lowered AMETEK from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday. Barclays upped their target price on shares of AMETEK from $220.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Monday, May 4th. Finally, Robert W. Baird set a $244.00 target price on shares of AMETEK in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $256.29.

About AMETEK

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.

The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.

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