Nuveen LLC Makes New Investment in AMETEK, Inc. (NYSE:AME)

Key Points

• Nuveen LLC has invested approximately $94.05 million in AMETEK, acquiring 546,363 shares of the technology company.
• Several institutional investors have significantly increased their stakes in AMETEK, with Capital World Investors raising its position by 70% during the last quarter.
• AMETEK recently reported earnings of $1.78 per share, surpassing analyst expectations, with a revenue of $1.78 billion, marking a 2.5% year-over-year increase.

Nuveen LLC acquired a new position in AMETEK, Inc. (NYSE:AME - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 546,363 shares of the technology company's stock, valued at approximately $94,051,000. Nuveen LLC owned 0.24% of AMETEK at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AME. Vanguard Group Inc. grew its position in AMETEK by 1.3% during the first quarter. Vanguard Group Inc. now owns 26,484,263 shares of the technology company's stock valued at $4,559,001,000 after buying an additional 336,491 shares during the period. Capital World Investors grew its position in AMETEK by 70.0% during the fourth quarter. Capital World Investors now owns 5,760,017 shares of the technology company's stock valued at $1,038,301,000 after buying an additional 2,371,062 shares during the period. JPMorgan Chase & Co. grew its position in AMETEK by 2.8% during the first quarter. JPMorgan Chase & Co. now owns 5,747,368 shares of the technology company's stock valued at $989,352,000 after buying an additional 154,682 shares during the period. Flossbach Von Storch SE grew its position 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 valued at $648,979,000 after buying an additional 45,714 shares during the period. Finally, Invesco Ltd. grew its position in AMETEK by 127.2% during the first quarter. Invesco Ltd. now owns 3,479,397 shares of the technology company's stock valued at $598,943,000 after buying an additional 1,947,831 shares during the period. Institutional investors and hedge funds own 87.43% of the company's stock.

AMETEK Price Performance

Shares of NYSE:AME traded down $3.57 during midday trading on Friday, hitting $181.21. The company's stock had a trading volume of 1,556,620 shares, compared to its average volume of 1,423,472. The business's 50 day simple moving average is $180.57 and its 200 day simple moving average is $176.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.63. The company has a market cap of $41.85 billion, a P/E ratio of 29.18, a price-to-earnings-growth ratio of 2.62 and a beta of 1.10. AMETEK, Inc. has a 12-month low of $145.02 and a 12-month high of $198.33.

AMETEK (NYSE:AME - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The technology company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.09. The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a net margin of 20.60% and a return on equity of 16.53%. The company's revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $1.66 earnings per share. On average, analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Dividend Announcement

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

Several analysts recently commented on AME shares. Melius Research upgraded shares of AMETEK to a "hold" rating in a research report on Monday, July 14th. 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. Robert W. Baird lifted their target price on shares of AMETEK from $190.00 to $198.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Morgan Stanley lifted their target price 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. Finally, Wall Street Zen upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, AMETEK has an average rating of "Moderate Buy" and a consensus target price of $208.00.

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.