Granite Harbor Advisors Inc. Buys New Holdings in AMETEK, Inc. $AME

Key Points

• Granite Harbor Advisors Inc. acquired a new stake in AMETEK, Inc. by purchasing 1,564 shares valued at approximately $269,000 during the 1st quarter.
• Institutional investors own 87.43% of AMETEK's stock, with notable increases in stakes from firms like Capital World Investors and Lazard Asset Management.
• AMETEK reported strong quarterly earnings, achieving $1.78 earnings per share, surpassing estimates and showcasing a 2.5% year-over-year revenue growth.

Granite Harbor Advisors Inc. 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 SEC. The fund bought 1,564 shares of the technology company's stock, valued at approximately $269,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Capital World Investors raised its stake in shares of AMETEK by 70.0% in the fourth quarter. Capital World Investors now owns 5,760,017 shares of the technology company's stock valued at $1,038,301,000 after acquiring an additional 2,371,062 shares during the last quarter. Invesco Ltd. boosted its stake in AMETEK by 127.2% in the first quarter. Invesco Ltd. now owns 3,479,397 shares of the technology company's stock worth $598,943,000 after purchasing an additional 1,947,831 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of AMETEK by 393.1% during the fourth 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 increased its stake in shares of AMETEK by 18,368.3% in the first quarter. GAMMA Investing LLC now owns 973,280 shares of the technology company's stock valued at $167,540,000 after buying an additional 968,010 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA bought a new position in shares of AMETEK in the first quarter valued at about $113,317,000. Institutional investors own 87.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Morgan Stanley raised 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. KeyCorp raised their price target on shares of AMETEK from $195.00 to $205.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Melius downgraded AMETEK from a "buy" rating to a "hold" rating and set a $192.00 price objective on the stock. in a report on Monday, July 14th. Royal Bank Of Canada lifted their target price on AMETEK from $209.00 to $212.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, DA Davidson upped their price target on AMETEK from $210.00 to $215.00 and gave the company a "buy" rating in a research note on Friday, August 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, AMETEK presently has an average rating of "Moderate Buy" and a consensus price target of $208.00.

AMETEK Price Performance

Shares of AME stock opened at $181.21 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a 12-month low of $145.02 and a 12-month high of $198.33. The firm has a fifty day moving average of $180.57 and a 200-day moving average of $176.89. The firm has a market capitalization of $41.85 billion, a price-to-earnings ratio of 29.18, a price-to-earnings-growth ratio of 2.61 and a beta of 1.10.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.09. The company had revenue of $1.78 billion during 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 revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.66 earnings per share. On average, equities research analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, September 15th. AMETEK's dividend payout ratio (DPR) is presently 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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