Freedom Day Solutions LLC Invests $2.42 Million in AMETEK, Inc. (NYSE:AME)

Freedom Day Solutions LLC bought a new stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,077 shares of the technology company's stock, valued at approximately $2,423,000.

Several other institutional investors and hedge funds also recently bought and sold shares of AME. Olde Wealth Management LLC purchased a new position in AMETEK during the first quarter valued at $29,000. Banque Transatlantique SA purchased a new position in AMETEK during the fourth quarter valued at $37,000. Minot DeBlois Advisors LLC purchased a new position in AMETEK during the fourth quarter valued at $43,000. Golden State Wealth Management LLC lifted its position in AMETEK by 201.0% during the first quarter. Golden State Wealth Management LLC now owns 295 shares of the technology company's stock valued at $51,000 after purchasing an additional 197 shares in the last quarter. Finally, Ancora Advisors LLC lifted its position in AMETEK by 15,950.0% during the fourth quarter. Ancora Advisors LLC now owns 321 shares of the technology company's stock valued at $58,000 after purchasing an additional 319 shares in the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AME has been the topic of several research analyst reports. Royal Bank Of Canada boosted their price objective on AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Robert W. Baird lowered their price objective on 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 AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Mizuho set a $212.00 price objective on AMETEK in a research report on Friday, May 16th. Finally, Morgan Stanley initiated coverage on AMETEK in a report on Monday, April 14th. They issued an "equal weight" rating and a $170.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued 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, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $197.89.

AMETEK Trading Down 0.4%

Shares of NYSE AME opened at $181.51 on Friday. The business's 50 day moving average is $178.44 and its two-hundred day moving average is $177.07. 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, Inc. has a 1-year low of $145.02 and a 1-year high of $198.33. The stock has a market capitalization of $41.91 billion, a P/E ratio of 29.71, a PEG ratio of 2.73 and a beta of 1.09.

AMETEK (NYSE:AME - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.06. The company had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.74 billion. AMETEK had a return on equity of 16.75% and a net margin of 20.43%. The firm's revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.64 earnings per share. As a group, research analysts expect that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid 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 dividend yield of 0.68%. AMETEK's dividend payout ratio is 20.29%.

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.

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