Fenimore Asset Management Inc Grows Holdings in AMETEK, Inc. (NYSE:AME)

Fenimore Asset Management Inc grew its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 1.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 277,371 shares of the technology company's stock after buying an additional 4,502 shares during the period. Fenimore Asset Management Inc owned approximately 0.12% of AMETEK worth $47,747,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in AME. Norges Bank bought a new position in shares of AMETEK during the 4th quarter worth approximately $697,080,000. Capital World Investors increased its stake in shares of AMETEK by 70.0% in the 4th quarter. Capital World Investors now owns 5,760,017 shares of the technology company's stock valued at $1,038,301,000 after buying an additional 2,371,062 shares during the period. Lazard Asset Management LLC raised 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 worth $219,030,000 after purchasing an additional 968,661 shares during the last quarter. GAMMA Investing LLC raised its stake 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 buying an additional 968,010 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in AMETEK by 240.3% in the fourth quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company's stock valued at $202,805,000 after acquiring an additional 794,473 shares during the last quarter. Institutional investors own 87.43% of the company's stock.

Insiders Place Their Bets

In other AMETEK news, Director Thomas A. Amato sold 710 shares of AMETEK stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $176.64, for a total value of $125,414.40. Following the sale, the director now owns 10,560 shares of the company's stock, valued at approximately $1,865,318.40. The trade was a 6.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.57% of the company's stock.

Wall Street Analysts Forecast Growth

AME has been the topic of several analyst reports. Mizuho set a $212.00 target price on shares of AMETEK in a report on Friday, May 16th. Truist Financial raised their price target on shares of AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Wall Street Zen upgraded AMETEK from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Morgan Stanley started coverage on shares of AMETEK in a research note on Monday, April 14th. They issued an "equal weight" rating and a $170.00 target price for the company. Finally, Royal Bank of Canada boosted their price target on AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $197.89.

AMETEK Stock Down 0.6%

AME traded down $1.15 during midday trading on Thursday, reaching $179.75. 1,042,232 shares of the company were exchanged, compared to its average volume of 1,290,904. The company has a market cap of $41.50 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 2.73 and a beta of 1.10. AMETEK, Inc. has a one year low of $145.02 and a one year high of $198.33. The company's fifty day moving average price is $170.28 and its 200 day moving average price is $178.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.06. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. AMETEK's revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.64 earnings per share. As a group, analysts expect that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.24 annualized dividend and a yield of 0.69%. AMETEK's dividend payout ratio (DPR) is 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.