LGT Group Foundation grew its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 18.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 122,068 shares of the technology company's stock after acquiring an additional 19,368 shares during the quarter. LGT Group Foundation owned 0.05% of AMETEK worth $21,013,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the business. LGT Fund Management Co Ltd. increased its position in shares of AMETEK by 13.9% in the first quarter. LGT Fund Management Co Ltd. now owns 32,000 shares of the technology company's stock valued at $5,508,000 after acquiring an additional 3,905 shares during the period. Russell Investments Group Ltd. increased its position in shares of AMETEK by 24.9% in the first quarter. Russell Investments Group Ltd. now owns 172,429 shares of the technology company's stock valued at $29,647,000 after acquiring an additional 34,391 shares during the period. Prudential PLC increased its position in shares of AMETEK by 397.5% in the first quarter. Prudential PLC now owns 65,971 shares of the technology company's stock valued at $11,356,000 after acquiring an additional 52,710 shares during the period. Resona Asset Management Co. Ltd. increased its position in shares of AMETEK by 7.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 71,798 shares of the technology company's stock valued at $12,341,000 after acquiring an additional 4,832 shares during the period. Finally, HighTower Advisors LLC increased its position in shares of AMETEK by 4.8% in the first quarter. HighTower Advisors LLC now owns 52,822 shares of the technology company's stock valued at $9,093,000 after acquiring an additional 2,410 shares during the period. 87.43% of the stock is owned by hedge funds and other institutional investors.
AMETEK Stock Performance
NYSE:AME traded down $3.57 during trading hours on Friday, reaching $181.21. The company had a trading volume of 1,556,620 shares, compared to its average volume of 1,423,472. AMETEK, Inc. has a 1-year low of $145.02 and a 1-year high of $198.33. The firm has a market cap of $41.85 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. The business's 50 day moving average price is $180.57 and its 200-day moving average price is $176.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.63 and a quick ratio of 1.04.
AMETEK (NYSE:AME - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The technology company reported $1.78 EPS for the quarter, topping the consensus estimate 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 return on equity of 16.53% and a net margin of 20.60%. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.66 earnings per share. Research analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current year.
AMETEK Dividend Announcement
The company 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 dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.24 annualized dividend and a yield of 0.7%. AMETEK's dividend payout ratio is presently 19.97%.
Wall Street Analysts Forecast Growth
AME has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of AMETEK from $185.00 to $198.00 and gave the company an "equal weight" rating in a research report on Friday, August 8th. Truist Financial boosted their price objective 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. DA Davidson boosted their price objective on shares of AMETEK from $210.00 to $215.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Royal Bank Of Canada boosted their price objective on shares of AMETEK from $209.00 to $212.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Finally, Melius Research raised shares of AMETEK to a "hold" rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $208.00.
Get Our Latest Analysis on AMETEK
About AMETEK
(
Free Report)
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.
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