Giverny Capital Inc. Acquires 2,975 Shares of AMETEK, Inc. $AME

Key Points

• Giverny Capital Inc. has increased its investment in AMETEK, Inc. by 0.3%, owning a total of 977,434 shares, which comprise about 6.2% of its investment portfolio.
• AMETEK's recent quarterly earnings reported an EPS of $1.78, surpassing analysts' expectations, with revenues reaching $1.78 billion.
• Despite some mixed ratings, analysts have set a consensus price target of $208.00 for AMETEK, with the company receiving eight buy ratings and one sell rating.

Giverny Capital Inc. lifted its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 0.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 977,434 shares of the technology company's stock after buying an additional 2,975 shares during the quarter. AMETEK makes up about 6.2% of Giverny Capital Inc.'s investment portfolio, making the stock its 3rd largest holding. Giverny Capital Inc. owned approximately 0.42% of AMETEK worth $168,255,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Olde Wealth Management LLC acquired a new stake in shares of AMETEK during the first quarter worth $29,000. Annis Gardner Whiting Capital Advisors LLC raised its stake in AMETEK by 57.7% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 194 shares of the technology company's stock worth $33,000 after acquiring an additional 71 shares during the period. Banque Transatlantique SA bought a new position in AMETEK in the fourth quarter worth about $37,000. Zions Bancorporation National Association UT acquired a new position in AMETEK in the first quarter valued at approximately $42,000. Finally, Minot DeBlois Advisors LLC bought a new position in shares of AMETEK during the fourth quarter valued at approximately $43,000. Institutional investors own 87.43% of the company's stock.

Wall Street Analysts Forecast Growth

AME has been the topic of several recent research reports. Robert W. Baird raised their price target on AMETEK from $190.00 to $198.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. Truist Financial boosted their price target on shares of AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a report on Monday, May 5th. DA Davidson increased their price objective on shares of AMETEK from $210.00 to $215.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Morgan Stanley lifted their price objective on shares of AMETEK from $185.00 to $198.00 and gave the company an "equal weight" rating in a research report on Friday, August 8th. Finally, Mizuho upped their target price on shares of AMETEK from $212.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $208.00.

AMETEK Price Performance

NYSE AME opened at $181.21 on Monday. The firm has a market capitalization of $41.85 billion, a PE ratio of 29.18, a P/E/G ratio of 2.61 and a beta of 1.10. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.63 and a quick ratio of 1.04. AMETEK, Inc. has a 12 month low of $145.02 and a 12 month high of $198.33. The company's 50 day simple moving average is $180.57 and its 200 day simple moving average is $176.89.

AMETEK (NYSE:AME - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The technology company reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.69 by $0.09. The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a return on equity of 16.53% and a net margin of 20.60%. The company's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.66 EPS. As a group, equities research analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.24 annualized dividend and a yield of 0.7%. AMETEK's dividend payout ratio is currently 19.97%.

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.

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