Phraction Management LLC Takes $280,000 Position in AMETEK, Inc. (NYSE:AME)

Phraction Management LLC purchased a new stake in AMETEK, Inc. (NYSE:AME - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,625 shares of the technology company's stock, valued at approximately $280,000.

A number of other large investors have also made changes to their positions in the stock. DAVENPORT & Co LLC increased its holdings in shares of AMETEK by 0.8% in the 1st quarter. DAVENPORT & Co LLC now owns 7,125 shares of the technology company's stock valued at $1,226,000 after purchasing an additional 60 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in AMETEK by 0.6% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,229 shares of the technology company's stock valued at $6,409,000 after acquiring an additional 220 shares during the last quarter. Mather Group LLC. grew its stake in AMETEK by 37.6% in the 1st quarter. Mather Group LLC. now owns 1,878 shares of the technology company's stock valued at $323,000 after acquiring an additional 513 shares during the last quarter. Smith Salley Wealth Management grew its stake in AMETEK by 0.8% in the 1st quarter. Smith Salley Wealth Management now owns 129,732 shares of the technology company's stock valued at $22,332,000 after acquiring an additional 1,004 shares during the last quarter. Finally, Amalgamated Bank grew its stake in AMETEK by 0.9% in the 1st quarter. Amalgamated Bank now owns 45,534 shares of the technology company's stock valued at $7,838,000 after acquiring an additional 423 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

AMETEK Trading Up 1.2%

Shares of AME traded up $2.20 during mid-day trading on Friday, hitting $184.19. The company had a trading volume of 719,336 shares, compared to its average volume of 1,303,844. The business's 50-day simple moving average is $177.30 and its 200-day simple moving average is $177.06. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a 1-year low of $145.02 and a 1-year high of $198.33. The stock has a market cap of $42.53 billion, a PE ratio of 30.15, a P/E/G ratio of 2.76 and a beta of 1.09.

AMETEK (NYSE:AME - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.06. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. The business had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.74 billion. During the same period last year, the company earned $1.64 earnings per share. The company's quarterly revenue was down .2% on a year-over-year basis. Sell-side analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $0.31 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.24 annualized dividend and a dividend yield of 0.67%. AMETEK's dividend payout ratio is presently 20.29%.

Analyst Ratings Changes

A number of brokerages recently commented on AME. Truist Financial increased their price objective on shares of AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Royal Bank Of Canada increased their price objective on shares of AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Wall Street Zen raised shares of AMETEK from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Robert W. Baird lowered their price objective on shares of AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Finally, Morgan Stanley started coverage on shares of AMETEK in a research note on Monday, April 14th. They set an "equal weight" rating and a $170.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.