HM Payson & Co. Raises Stock Holdings in AMETEK, Inc. (NYSE:AME)

HM Payson & Co. increased its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 537,392 shares of the technology company's stock after purchasing an additional 7,032 shares during the period. AMETEK accounts for 1.6% of HM Payson & Co.'s holdings, making the stock its 19th biggest holding. HM Payson & Co. owned 0.23% of AMETEK worth $92,507,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Seascape Capital Management lifted its holdings in AMETEK by 1.1% in the 1st quarter. Seascape Capital Management now owns 15,834 shares of the technology company's stock worth $2,726,000 after purchasing an additional 179 shares in the last quarter. Olde Wealth Management LLC purchased a new stake in shares of AMETEK during the 1st quarter worth approximately $29,000. IFM Investors Pty Ltd raised its holdings in shares of AMETEK by 10.2% during the 1st quarter. IFM Investors Pty Ltd now owns 44,424 shares of the technology company's stock worth $7,628,000 after acquiring an additional 4,095 shares in the last quarter. OneDigital Investment Advisors LLC raised its holdings in shares of AMETEK by 7.0% during the 1st quarter. OneDigital Investment Advisors LLC now owns 28,123 shares of the technology company's stock worth $4,841,000 after acquiring an additional 1,836 shares in the last quarter. Finally, North Capital Inc. purchased a new stake in shares of AMETEK during the 1st quarter worth approximately $62,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

AMETEK Trading Down 0.6%

AMETEK stock traded down $1.01 during mid-day trading on Tuesday, hitting $181.36. The company's stock had a trading volume of 1,827,260 shares, compared to its average volume of 1,304,558. The company has a 50 day moving average of $177.89 and a 200-day moving average of $177.04. The stock has a market cap of $41.87 billion, a PE ratio of 29.68, a P/E/G ratio of 2.73 and a beta of 1.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.41. AMETEK, Inc. has a one year low of $145.02 and a one year high of $198.33.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.69 by $0.06. AMETEK had a return on equity of 16.75% and a net margin of 20.43%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the company posted $1.64 EPS. AMETEK's quarterly revenue was down .2% on a year-over-year basis. On average, research analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Friday, June 13th. AMETEK's payout ratio is 20.29%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Morgan Stanley assumed coverage on AMETEK in a report on Monday, April 14th. They set an "equal weight" rating and a $170.00 price objective on the stock. Robert W. Baird decreased their price objective on AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Truist Financial upped their price objective on AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Wall Street Zen raised AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Royal Bank Of Canada boosted their target price on AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $197.89.

About AMETEK

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.