Groupe la Francaise Acquires Shares of 133,546 AMETEK, Inc. $AME

Key Points

• Groupe la Francaise acquired 133,546 AMETEK shares during the first quarter, worth approximately $28.6 million and representing about 0.06% of the company. Institutional investors collectively own 87.43% of AMETEK.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $256.29. Recent targets range from $230 to $303, although Wall Street Zen downgraded the stock to “Hold.”
• AMETEK reported quarterly EPS of $1.97, beating estimates of $1.90, while revenue rose 11.3% year over year to $1.93 billion. Shares opened at $239.93, near the 52-week high, and the company pays a quarterly dividend of $0.34.

Groupe la Francaise acquired a new position in shares of AMETEK, Inc. (NYSE:AME - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 133,546 shares of the technology company's stock, valued at approximately $28,566,000. Groupe la Francaise owned about 0.06% of AMETEK at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CoreCap Advisors LLC lifted its position in shares of AMETEK by 84.3% during the fourth quarter. CoreCap Advisors LLC now owns 129 shares of the technology company's stock valued at $26,000 after purchasing an additional 59 shares in the last quarter. MV Capital Management Inc. bought a new stake in AMETEK in the 4th quarter worth about $28,000. Brown Lisle Cummings Inc. increased its stake in AMETEK by 878.6% in the 1st quarter. Brown Lisle Cummings Inc. now owns 137 shares of the technology company's stock valued at $29,000 after buying an additional 123 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in AMETEK in the 2nd quarter valued at about $25,000. Finally, SJS Investment Consulting Inc. lifted its position in shares of AMETEK by 393.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 143 shares of the technology company's stock worth $31,000 after buying an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AME shares. Wall Street Zen lowered AMETEK from a "buy" rating to a "hold" rating in a report on Sunday, May 10th. Rothschild & Co Redburn set a $265.00 price target on AMETEK in a report on Thursday, June 18th. Mizuho set a $270.00 price objective on AMETEK in a research report on Friday, May 1st. Barclays upped their price objective on AMETEK from $220.00 to $230.00 and gave the company an "equal weight" rating in a research note on Monday, May 4th. Finally, Truist Financial lifted their target price on AMETEK from $275.00 to $303.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $256.29.

AMETEK Stock Up 2.0%

Shares of NYSE AME opened at $239.93 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.14 and a quick ratio of 0.72. The stock has a market capitalization of $54.99 billion, a PE ratio of 36.24, a P/E/G ratio of 3.30 and a beta of 0.99. AMETEK, Inc. has a one year low of $179.24 and a one year high of $244.71. The business's fifty day moving average price is $233.22 and its 200-day moving average price is $228.42.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $1.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.90 by $0.07. The business had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.91 billion. AMETEK had a return on equity of 16.63% and a net margin of 20.11%.The firm's quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.75 EPS. On average, equities research analysts anticipate that AMETEK, Inc. will post 8.14 EPS for the current year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a $0.34 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.6%. AMETEK's payout ratio is 20.54%.

AMETEK Profile

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.

The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.

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