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

Phraction Management LLC acquired a new stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,625 shares of the technology company's stock, valued at approximately $280,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in AME. Norges Bank purchased a new position in AMETEK during the 4th quarter valued at about $697,080,000. Capital World Investors grew its position in shares of AMETEK by 70.0% in the 4th quarter. Capital World Investors now owns 5,760,017 shares of the technology company's stock worth $1,038,301,000 after buying an additional 2,371,062 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of AMETEK by 393.1% during the fourth quarter. Lazard Asset Management LLC now owns 1,215,087 shares of the technology company's stock valued at $219,030,000 after buying an additional 968,661 shares during the period. GAMMA Investing LLC raised its holdings in shares of AMETEK by 18,368.3% during the first quarter. GAMMA Investing LLC now owns 973,280 shares of the technology company's stock valued at $167,540,000 after acquiring an additional 968,010 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in AMETEK by 240.3% in the fourth quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company's stock worth $202,805,000 after acquiring an additional 794,473 shares during the period. Institutional investors own 87.43% of the company's stock.

Analysts Set New Price Targets

AME has been the topic of a number of research reports. Morgan Stanley initiated coverage on shares of AMETEK in a report on Monday, April 14th. They set an "equal weight" rating and a $170.00 target price on the stock. Truist Financial raised their price objective on shares of AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Royal Bank Of Canada lifted their price target on shares of AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Robert W. Baird decreased their price target 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, Wall Street Zen upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $197.89.

AMETEK Price Performance

AME stock traded down $1.12 during mid-day trading on Wednesday, reaching $181.94. 977,662 shares of the company's stock were exchanged, compared to its average volume of 1,298,655. The company has a market cap of $42.01 billion, a price-to-earnings ratio of 29.78, a price-to-earnings-growth ratio of 2.71 and a beta of 1.09. AMETEK, Inc. has a 12-month low of $145.02 and a 12-month high of $198.33. The stock's 50 day moving average is $176.22 and its 200 day moving average is $177.10. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.41 and a quick ratio of 0.86.

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

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid 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 0.68%. AMETEK's dividend payout ratio (DPR) is 20.29%.

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.