Citigroup Inc. Acquires 127,651 Shares of AMETEK, Inc. (NYSE:AME)

Key Points

• Citigroup Inc. increased its stake in AMETEK, Inc. by 139.6% in Q1, owning approximately 0.09% of the company, valued at $37.7 million.
• AMETEK reported earnings of $1.78 per share for the last quarter, exceeding estimates of $1.69, with revenue rising 2.5% year-over-year.
• The company announced a quarterly dividend of $0.31, reflecting an annualized yield of 0.7%, to be paid on September 30th.

Citigroup Inc. boosted its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 139.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 219,091 shares of the technology company's stock after purchasing an additional 127,651 shares during the period. Citigroup Inc. owned 0.09% of AMETEK worth $37,714,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Banco Santander S.A. boosted its position in AMETEK by 20.8% during the first quarter. Banco Santander S.A. now owns 45,365 shares of the technology company's stock valued at $7,809,000 after purchasing an additional 7,799 shares during the last quarter. M.D. Sass LLC boosted its position in AMETEK by 2.1% during the first quarter. M.D. Sass LLC now owns 366,994 shares of the technology company's stock valued at $63,174,000 after purchasing an additional 7,666 shares during the last quarter. DAVENPORT & Co LLC boosted its position in AMETEK by 0.8% during the first quarter. DAVENPORT & Co LLC now owns 7,125 shares of the technology company's stock valued at $1,226,000 after purchasing an additional 60 shares during the last quarter. Raiffeisen Bank International AG boosted its position in AMETEK by 16.5% during the first quarter. Raiffeisen Bank International AG now owns 44,647 shares of the technology company's stock valued at $7,607,000 after purchasing an additional 6,318 shares during the last quarter. Finally, Sowell Financial Services LLC acquired a new position in AMETEK during the first quarter valued at approximately $293,000. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Stock Performance

Shares of NYSE AME traded down $1.99 during trading hours on Thursday, reaching $184.92. 845,656 shares of the stock were exchanged, compared to its average volume of 1,379,875. The firm has a market capitalization of $42.71 billion, a price-to-earnings ratio of 29.78, a P/E/G ratio of 2.67 and a beta of 1.10. 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, Inc. has a 52 week low of $145.02 and a 52 week high of $198.33. The stock's fifty day simple moving average is $180.36 and its 200 day simple moving average is $177.00.

AMETEK (NYSE:AME - Get Free Report) last announced its earnings results on Thursday, July 31st. The technology company reported $1.78 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the company earned $1.66 earnings per share. The firm's quarterly revenue was up 2.5% compared to the same quarter last year. Sell-side analysts predict that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AME. Wall Street Zen raised AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Royal Bank Of Canada raised their price objective on AMETEK from $209.00 to $212.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Morgan Stanley raised their price objective on AMETEK from $185.00 to $198.00 and gave the company an "equal weight" rating in a research report on Friday, August 8th. Melius Research raised AMETEK to a "hold" rating in a research report on Monday, July 14th. Finally, Robert W. Baird raised their price objective on AMETEK from $190.00 to $198.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, AMETEK presently has an average rating of "Moderate Buy" and an average price target of $208.00.

AMETEK 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.