Resona Asset Management Co. Ltd. Increases Position in AMETEK, Inc. $AME

Key Points

• Resona Asset Management Co. Ltd. increased its stake in AMETEK, Inc. by 7.2%, bringing its total holdings to 71,798 shares valued at approximately $12.34 million.
• AMETEK recently reported quarterly earnings of $1.78 per share, surpassing estimates, and had revenues of $1.78 billion, reflecting a 2.5% year-over-year increase.
• The company announced a quarterly dividend of $0.31 per share, which will be paid on September 30, indicating a dividend yield of 0.7%.

Resona Asset Management Co. Ltd. raised its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,798 shares of the technology company's stock after purchasing an additional 4,832 shares during the period. Resona Asset Management Co. Ltd.'s holdings in AMETEK were worth $12,341,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Olde Wealth Management LLC purchased a new position in AMETEK during the first quarter valued at $29,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in AMETEK by 57.7% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 194 shares of the technology company's stock valued at $33,000 after purchasing an additional 71 shares in the last quarter. Banque Transatlantique SA acquired a new position in AMETEK during the fourth quarter worth about $37,000. Minot DeBlois Advisors LLC acquired a new stake in AMETEK in the 4th quarter valued at about $43,000. Finally, Zions Bancorporation National Association UT purchased a new position in AMETEK in the 1st quarter worth approximately $42,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on AME. Melius Research raised AMETEK to a "hold" rating in a report on Monday, July 14th. DA Davidson boosted their price target 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. Wall Street Zen upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Robert W. Baird increased their price target on shares of AMETEK from $190.00 to $198.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. Finally, Royal Bank Of Canada upped their price objective on AMETEK from $209.00 to $212.00 and gave the company an "outperform" rating in a report on Friday, August 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, AMETEK has an average rating of "Moderate Buy" and a consensus target price of $208.00.

AMETEK Stock Up 0.2%

AME traded up $0.29 on Monday, hitting $181.65. 495,076 shares of the company were exchanged, compared to its average volume of 1,375,180. The firm has a 50-day moving average price of $180.57 and a two-hundred day moving average price of $176.89. The company has a current ratio of 1.63, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a twelve month low of $145.02 and a twelve month high of $198.33. The company has a market cap of $41.95 billion, a price-to-earnings ratio of 29.25, a price-to-earnings-growth ratio of 2.61 and a beta of 1.10.

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

AMETEK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $0.31 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.7%. AMETEK's dividend payout ratio is presently 19.97%.

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.