Harfst & Associates Inc. Invests $985,000 in AMETEK, Inc. $AME

Key Points

• Harfst & Associates Inc. has acquired a new stake in AMETEK, Inc. during the 1st quarter, purchasing 5,722 shares valued at approximately $985,000.
• AMETEK reported earnings of $1.78 EPS for the last quarter, surpassing analysts' expectations of $1.69, with a year-over-year revenue increase of 2.5%.
• The firm recently declared a quarterly dividend of $0.31, with a yield of 0.7%, set to be paid on September 30th.

Harfst & Associates Inc. purchased a new position in AMETEK, Inc. (NYSE:AME - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,722 shares of the technology company's stock, valued at approximately $985,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AME. Olde Wealth Management LLC purchased a new position in shares of AMETEK in the first quarter worth $29,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of AMETEK by 57.7% in 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 acquired a new stake in shares of AMETEK in the fourth quarter worth $37,000. Zions Bancorporation National Association UT acquired a new stake in shares of AMETEK in the first quarter worth $42,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of AMETEK in the fourth quarter worth $43,000. Hedge funds and other institutional investors own 87.43% of the company's stock.

AMETEK Price Performance

Shares of NYSE AME traded up $1.27 during trading on Monday, hitting $182.63. The company had a trading volume of 1,753,388 shares, compared to its average volume of 1,376,526. The stock has a fifty day simple moving average of $180.57 and a two-hundred day simple moving average of $176.89. AMETEK, Inc. has a fifty-two week low of $145.02 and a fifty-two week high of $198.33. The firm has a market capitalization of $42.18 billion, a price-to-earnings ratio of 29.41, a price-to-earnings-growth ratio of 2.61 and a beta of 1.10. 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 (NYSE:AME - Get Free Report) last announced its earnings results on Thursday, July 31st. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.09. AMETEK had a net margin of 20.60% and a return on equity of 16.53%. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the business earned $1.66 earnings per share. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. On average, research analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada increased their price objective on shares of AMETEK from $209.00 to $212.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Mizuho increased their price objective on shares of AMETEK from $212.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Wall Street Zen upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Truist Financial raised their price target on shares of AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Finally, KeyCorp raised their price target on shares of AMETEK from $195.00 to $205.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $208.00.

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.