King Luther Capital Management Corp Boosts Stake in AMETEK, Inc. (NYSE:AME)

Key Points

• King Luther Capital Management Corp increased its holdings in AMETEK, Inc. by 3.1% during Q1, reaching a total of $19.39 million in stock value.
• AMETEK recently reported an EPS of $1.78 for the last quarter, surpassing analysts' expectations of $1.69, and achieved a revenue of $1.78 billion.
• The company has declared a quarterly dividend of $0.31, which will be paid to stockholders on September 30th, reflecting an annualized yield of 0.7%.

King Luther Capital Management Corp grew its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 3.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,609 shares of the technology company's stock after buying an additional 3,427 shares during the quarter. King Luther Capital Management Corp's holdings in AMETEK were worth $19,385,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in AMETEK by 1.3% during the first quarter. Vanguard Group Inc. now owns 26,484,263 shares of the technology company's stock worth $4,559,001,000 after purchasing an additional 336,491 shares during the last quarter. Capital World Investors raised its holdings in AMETEK by 70.0% during the fourth quarter. Capital World Investors now owns 5,760,017 shares of the technology company's stock worth $1,038,301,000 after purchasing an additional 2,371,062 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in AMETEK by 2.8% during the first quarter. JPMorgan Chase & Co. now owns 5,747,368 shares of the technology company's stock worth $989,352,000 after purchasing an additional 154,682 shares during the last quarter. Flossbach Von Storch SE raised its holdings in AMETEK by 1.2% during the first quarter. Flossbach Von Storch SE now owns 3,770,066 shares of the technology company's stock worth $648,979,000 after purchasing an additional 45,714 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in AMETEK by 127.2% during 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 during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Trading Down 0.6%

AMETEK stock traded down $1.17 during trading on Friday, hitting $183.62. The company's stock had a trading volume of 526,843 shares, compared to its average volume of 1,374,058. The stock has a market capitalization of $42.41 billion, a price-to-earnings ratio of 29.55, a P/E/G ratio of 2.70 and a beta of 1.10. The stock's fifty day moving average is $180.52 and its 200 day moving average is $177.00. 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 quick ratio of 1.04 and a current ratio of 1.63.

AMETEK (NYSE:AME - Get Free Report) last released its earnings results on Thursday, July 31st. The technology company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.69 by $0.09. The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.74 billion. AMETEK had a return on equity of 16.53% and a net margin of 20.60%. The business's quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.66 earnings per share. As a group, equities research analysts predict that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Dividend Announcement

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

Wall Street Analysts Forecast Growth

AME has been the subject of several research reports. Melius cut AMETEK from a "buy" rating to a "hold" rating and set a $192.00 price objective for the company. in a report on Monday, July 14th. Mizuho boosted their price target on AMETEK from $212.00 to $225.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Royal Bank Of Canada boosted their price target on AMETEK from $209.00 to $212.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. DA Davidson boosted their price target on AMETEK from $210.00 to $215.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Melius Research raised AMETEK to a "hold" rating in a report on Monday, July 14th. One investment 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 data from MarketBeat.com, AMETEK 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.