AMETEK, Inc. (NYSE:AME) Holdings Lifted by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. increased its stake in AMETEK, Inc. by 0.9% in Q1, bringing its total ownership to approximately 201,382 shares valued at around $34.67 million.
• AMETEK recently reported a quarterly EPS of $1.78, surpassing analysts' expectations, and achieved a revenue of $1.78 billion, reflecting a 2.5% year-over-year increase.
• Analysts have a positive outlook on AMETEK, with the company receiving a moderate buy rating and a consensus target price of $200.18.

PNC Financial Services Group Inc. boosted its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 201,382 shares of the technology company's stock after acquiring an additional 1,751 shares during the quarter. PNC Financial Services Group Inc. owned about 0.09% of AMETEK worth $34,666,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Olde Wealth Management LLC purchased a new position in AMETEK in the 1st quarter worth approximately $29,000. Banque Transatlantique SA purchased a new position in AMETEK in the 4th quarter worth approximately $37,000. Minot DeBlois Advisors LLC purchased a new position in AMETEK in the 4th quarter worth approximately $43,000. N.E.W. Advisory Services LLC acquired a new position in shares of AMETEK in the 1st quarter valued at approximately $48,000. Finally, Golden State Wealth Management LLC raised its position in shares of AMETEK by 201.0% in the 1st quarter. Golden State Wealth Management LLC now owns 295 shares of the technology company's stock valued at $51,000 after purchasing an additional 197 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Melius Research raised AMETEK to a "hold" rating in a research report on Monday, July 14th. KeyCorp upped their target price on AMETEK from $195.00 to $205.00 and gave the company an "overweight" rating in a research report on Friday. DA Davidson upped their price target on AMETEK from $210.00 to $215.00 and gave the company a "buy" rating in a research report on Friday. Mizuho upped their price target on AMETEK from $212.00 to $225.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Royal Bank Of Canada upped their price target on AMETEK from $209.00 to $212.00 and gave the company an "outperform" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, AMETEK has a consensus rating of "Moderate Buy" and an average target price of $200.91.

AMETEK Stock Performance

NYSE AME traded up $1.95 during trading hours on Monday, hitting $184.31. The company had a trading volume of 1,959,814 shares, compared to its average volume of 1,509,711. AMETEK, Inc. has a fifty-two week low of $145.02 and a fifty-two week high of $198.33. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $179.57 and a 200-day simple moving average of $176.99. The firm has a market cap of $42.57 billion, a P/E ratio of 29.68, a price-to-earnings-growth ratio of 2.72 and a beta of 1.10.

AMETEK (NYSE:AME - Get Free Report) last issued its 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. AMETEK had a return on equity of 16.53% and a net margin of 20.60%. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the company earned $1.66 earnings per share. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. Equities analysts predict 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. Stockholders 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 0.7%. AMETEK's dividend payout ratio is presently 19.97%.

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.