Davis R M Inc. Has $56.23 Million Holdings in AMETEK, Inc. (NYSE:AME)

Key Points

• Davis R M Inc. holds $56.23 million in AMETEK, comprising 1.1% of its portfolio after a 0.9% reduction in its stake during Q1.
• AMETEK's stock experienced a 1.3% decline recently, trading at $176.64, with a market cap of $40.78 billion.
• The company announced a quarterly dividend of $0.31 per share with an annualized yield of 0.70%, reflecting a payout ratio of 20.29%.

Davis R M Inc. reduced its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 326,622 shares of the technology company's stock after selling 2,870 shares during the period. AMETEK makes up about 1.1% of Davis R M Inc.'s investment portfolio, making the stock its 25th largest position. Davis R M Inc. owned approximately 0.14% of AMETEK worth $56,225,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AME. Olde Wealth Management LLC acquired a new position in AMETEK during the first quarter worth about $29,000. Banque Transatlantique SA acquired a new position in AMETEK during the fourth quarter worth about $37,000. Minot DeBlois Advisors LLC purchased a new position in AMETEK in the 4th quarter worth about $43,000. N.E.W. Advisory Services LLC purchased a new position in AMETEK in the 1st quarter worth about $48,000. Finally, Golden State Wealth Management LLC increased its stake in AMETEK by 201.0% in the 1st quarter. Golden State Wealth Management LLC now owns 295 shares of the technology company's stock worth $51,000 after purchasing an additional 197 shares in the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AME has been the topic of a number of analyst reports. Morgan Stanley initiated coverage on AMETEK in a research note on Monday, April 14th. They issued an "equal weight" rating and a $170.00 price target on the stock. Melius cut AMETEK from a "buy" rating to a "hold" rating and set a $192.00 price target on the stock. in a research note on Monday, July 14th. Robert W. Baird dropped their price target on AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Truist Financial lifted their price target on AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Finally, Melius Research raised AMETEK to a "hold" rating in a research note on Monday, July 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $200.18.

AMETEK Stock Down 1.4%

Shares of NYSE AME traded down $2.67 during trading hours on Friday, hitting $182.18. The stock had a trading volume of 1,725,013 shares, compared to its average volume of 1,423,460. The company has a market capitalization of $42.06 billion, a P/E ratio of 29.34, a P/E/G ratio of 2.77 and a beta of 1.10. The firm's 50-day moving average price is $179.44 and its two-hundred day moving average price is $177.01. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week high of $198.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.63.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly 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 business had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $1.74 billion. AMETEK had a return on equity of 16.53% and a net margin of 20.60%. The firm's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.66 EPS. Analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.24 dividend on an annualized basis and a yield of 0.7%. AMETEK's dividend payout ratio is presently 20.29%.

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.