Charles Schwab Investment Management Inc. Purchases 22,067 Shares of AMETEK, Inc. (NYSE:AME)

Key Points

• Charles Schwab Investment Management Inc. has increased its ownership in AMETEK, Inc. by 1.7%, bringing its total holdings to approximately 1.35 million shares worth about $233 million.
• AMETEK reported a quarterly earnings per share (EPS) of $1.78, exceeding the consensus estimate of $1.69, with a revenue of $1.78 billion for the quarter.
• The company will pay a dividend of $0.31 per share on September 30, with a current annualized yield of 0.7%.

Charles Schwab Investment Management Inc. raised its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,353,634 shares of the technology company's stock after acquiring an additional 22,067 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.59% of AMETEK worth $233,015,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors raised its stake in shares of AMETEK by 70.0% during 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. Lazard Asset Management LLC grew its holdings in AMETEK by 393.1% during the 4th quarter. Lazard Asset Management LLC now owns 1,215,087 shares of the technology company's stock valued at $219,030,000 after purchasing an additional 968,661 shares in the last quarter. GAMMA Investing LLC increased its position in shares of AMETEK by 18,368.3% during the first quarter. GAMMA Investing LLC now owns 973,280 shares of the technology company's stock worth $167,540,000 after acquiring an additional 968,010 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new position in shares of AMETEK in the 1st quarter valued at approximately $113,317,000. Finally, Alteri Wealth LLC bought a new position in AMETEK during the 4th quarter valued at $114,769,000. Hedge funds and other institutional investors own 87.43% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AME. Wall Street Zen upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Robert W. Baird increased their target price on AMETEK from $190.00 to $198.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. Morgan Stanley boosted their price target on AMETEK from $185.00 to $198.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Melius lowered 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. Finally, Melius Research raised shares of AMETEK to a "hold" rating in a report on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, AMETEK currently has an average rating of "Moderate Buy" and an average price target of $208.00.

AMETEK Trading Up 1.1%

Shares of NYSE:AME traded up $1.96 during midday trading on Wednesday, reaching $186.90. The company had a trading volume of 1,139,670 shares, compared to its average volume of 1,383,331. The company has a fifty day simple moving average of $180.16 and a two-hundred day simple moving average of $176.93. The firm has a market cap of $43.17 billion, a price-to-earnings ratio of 30.10, a price-to-earnings-growth ratio of 2.63 and a beta of 1.10. AMETEK, Inc. has a 1-year low of $145.02 and a 1-year high of $198.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.63.

AMETEK (NYSE:AME - Get Free Report) last released its earnings results on Thursday, July 31st. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.69 by $0.09. AMETEK had a return on equity of 16.53% and a net margin of 20.60%. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the company earned $1.66 earnings per share. The company's revenue for the quarter was up 2.5% on a year-over-year basis. Research analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.31 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.24 dividend on an annualized basis and a yield of 0.7%. AMETEK's dividend payout ratio is currently 19.97%.

AMETEK Company 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.