HB Wealth Management LLC Grows Holdings in AMETEK, Inc. (NYSE:AME)

HB Wealth Management LLC boosted its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 48.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,878 shares of the technology company's stock after acquiring an additional 2,578 shares during the quarter. HB Wealth Management LLC's holdings in AMETEK were worth $1,356,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. DAVENPORT & Co LLC lifted its position in AMETEK by 0.8% during the 1st quarter. DAVENPORT & Co LLC now owns 7,125 shares of the technology company's stock worth $1,226,000 after buying an additional 60 shares in the last quarter. Alps Advisors Inc. lifted its position in AMETEK by 1.0% during the 1st quarter. Alps Advisors Inc. now owns 6,260 shares of the technology company's stock worth $1,078,000 after buying an additional 60 shares in the last quarter. EWA LLC lifted its position in AMETEK by 4.9% during the 1st quarter. EWA LLC now owns 1,382 shares of the technology company's stock worth $238,000 after buying an additional 65 shares in the last quarter. Buckhead Capital Management LLC lifted its position in AMETEK by 0.3% during the 1st quarter. Buckhead Capital Management LLC now owns 22,830 shares of the technology company's stock worth $3,930,000 after buying an additional 65 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of AMETEK by 1.5% during the 1st quarter. Signaturefd LLC now owns 4,625 shares of the technology company's stock worth $796,000 after purchasing an additional 67 shares in the last quarter. 87.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Mizuho increased their price objective on shares of AMETEK from $212.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday. Melius downgraded shares of AMETEK from a "buy" rating to a "hold" rating and set a $192.00 price target for the company. in a research note on Monday, July 14th. Truist Financial increased their price objective on shares of AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Finally, 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 report on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $198.70.

AMETEK Stock Down 1.4%

Shares of NYSE AME traded down $2.67 during mid-day trading on Friday, reaching $182.18. 1,725,013 shares of the company's stock traded hands, compared to its average volume of 1,391,082. The stock has a market cap of $42.06 billion, a P/E ratio of 29.82, a PEG ratio of 2.65 and a beta of 1.09. The business has a 50-day simple moving average of $179.35 and a 200 day simple moving average of $176.99. AMETEK, Inc. has a 1-year low of $145.02 and a 1-year high of $198.33. 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 (NYSE:AME - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.69 by $0.09. The firm had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $1.74 billion. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. The business's revenue was up 2.5% on a year-over-year basis. During the same period last year, the company earned $1.66 earnings per share. On average, analysts expect that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, June 13th. This represents a $1.24 annualized dividend and a yield of 0.7%. AMETEK's payout ratio is 20.29%.

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.