Dogwood Wealth Management LLC Acquires New Position in AMETEK, Inc. (NYSE:AME)

Dogwood Wealth Management LLC purchased a new stake in AMETEK, Inc. (NYSE:AME - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,708 shares of the technology company's stock, valued at approximately $638,000.

Several other large investors also recently made changes to their positions in the company. DAVENPORT & Co LLC raised its holdings in AMETEK by 0.8% in the 1st quarter. DAVENPORT & Co LLC now owns 7,125 shares of the technology company's stock worth $1,226,000 after acquiring an additional 60 shares during the period. EWA LLC boosted its position in shares of AMETEK by 4.9% during the 1st quarter. EWA LLC now owns 1,382 shares of the technology company's stock valued at $238,000 after acquiring an additional 65 shares in the last quarter. Kensington Investment Counsel LLC boosted its position in shares of AMETEK by 0.5% during the 4th quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company's stock valued at $2,574,000 after acquiring an additional 66 shares in the last quarter. Legacy Advisors LLC boosted its position in shares of AMETEK by 4.8% during the 1st quarter. Legacy Advisors LLC now owns 1,669 shares of the technology company's stock valued at $287,000 after acquiring an additional 76 shares in the last quarter. Finally, Level Four Advisory Services LLC boosted its position in shares of AMETEK by 3.1% during the 4th quarter. Level Four Advisory Services LLC now owns 2,624 shares of the technology company's stock valued at $473,000 after acquiring an additional 80 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company's stock.

Wall Street Analyst Weigh In

AME has been the topic of several recent research reports. Mizuho set a $212.00 target price on shares of AMETEK in a research report on Friday, May 16th. Robert W. Baird decreased their target price on shares of AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Morgan Stanley assumed coverage on shares of AMETEK in a research report on Monday, April 14th. They issued an "equal weight" rating and a $170.00 price target on the stock. Finally, Royal Bank Of Canada boosted their price target on shares of AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $197.89.

AMETEK Price Performance

Shares of AME stock traded down $0.45 during trading hours on Friday, reaching $180.99. 839,398 shares of the company were exchanged, compared to its average volume of 1,305,164. AMETEK, Inc. has a fifty-two week low of $145.02 and a fifty-two week high of $198.33. The stock's fifty day moving average is $178.66 and its two-hundred day moving average is $177.00. The company has a market cap of $41.79 billion, a price-to-earnings ratio of 29.62, a P/E/G ratio of 2.71 and a beta of 1.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.41 and a quick ratio of 0.86.

AMETEK (NYSE:AME - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.69 by $0.06. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period in the prior year, the business earned $1.64 earnings per share. AMETEK's quarterly revenue was down .2% on a year-over-year basis. Sell-side analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.31 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.24 annualized dividend and a yield of 0.69%. AMETEK's dividend payout ratio is currently 20.29%.

About AMETEK

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.