Cetera Investment Advisers Purchases 4,240 Shares of AMETEK, Inc. $AME

Key Points

• Cetera Investment Advisers increased its AMETEK stake by 9.2% in the first quarter, purchasing 4,240 additional shares and bringing its holdings to 50,157 shares valued at approximately $10.75 million. Institutional investors collectively own 87.43% of the company.
• Analysts maintain a generally positive outlook, with AMETEK receiving a consensus “Moderate Buy” rating and an average price target of $256.29. Truist Financial raised its target to $303, while Morgan Stanley maintained an “Equal Weight” rating.
• AMETEK reported quarterly EPS of $1.97, beating estimates of $1.90, while revenue rose 11.3% year over year to $1.93 billion. The company also paid a quarterly dividend of $0.34 per share, equivalent to a 0.6% annualized yield.

Cetera Investment Advisers raised its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 9.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,157 shares of the technology company's stock after buying an additional 4,240 shares during the period. Cetera Investment Advisers' holdings in AMETEK were worth $10,752,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AME. Y.D. More Investments Ltd purchased a new position in AMETEK in the 4th quarter valued at about $1,653,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of AMETEK by 6.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 487,238 shares of the technology company's stock worth $101,901,000 after acquiring an additional 28,621 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in shares of AMETEK in the fourth quarter worth about $1,027,000. Massachusetts Financial Services Co. MA boosted its holdings in AMETEK by 10.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 959,937 shares of the technology company's stock valued at $197,085,000 after purchasing an additional 94,544 shares during the last quarter. Finally, Factory Mutual Insurance Co. boosted its holdings in AMETEK by 6.6% in the fourth quarter. Factory Mutual Insurance Co. now owns 215,100 shares of the technology company's stock valued at $44,162,000 after purchasing an additional 13,300 shares during the last quarter. Institutional investors own 87.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AME shares. Rothschild & Co Redburn set a $265.00 price objective on AMETEK in a report on Thursday, June 18th. Weiss Ratings downgraded shares of AMETEK from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday. Truist Financial lifted their price target on shares of AMETEK from $275.00 to $303.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Robert W. Baird set a $244.00 price objective on shares of AMETEK in a research note on Friday, May 1st. Finally, Morgan Stanley upped their target price on shares of AMETEK from $235.00 to $245.00 and gave the company an "equal weight" rating in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $256.29.

AMETEK Stock Up 2.0%

AME stock opened at $239.93 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.14 and a quick ratio of 0.72. AMETEK, Inc. has a 1-year low of $179.24 and a 1-year high of $244.71. The firm has a fifty day moving average price of $233.22 and a two-hundred day moving average price of $228.42. The firm has a market cap of $54.99 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 3.30 and a beta of 0.99.

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

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $0.34 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.6%. AMETEK's dividend payout ratio (DPR) is currently 20.54%.

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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