Retirement Planning Co of New England Inc. Invests $990,000 in AMETEK, Inc. (NYSE:AME)

Retirement Planning Co of New England Inc. bought a new stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 5,750 shares of the technology company's stock, valued at approximately $990,000.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of AMETEK by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 26,147,772 shares of the technology company's stock valued at $4,713,397,000 after acquiring an additional 282,208 shares during the period. FMR LLC increased its stake in AMETEK by 1.1% in the fourth quarter. FMR LLC now owns 8,956,329 shares of the technology company's stock valued at $1,614,468,000 after purchasing an additional 98,546 shares in the last quarter. Capital World Investors raised its holdings in AMETEK by 70.0% in the fourth quarter. Capital World Investors now owns 5,760,017 shares of the technology company's stock worth $1,038,301,000 after purchasing an additional 2,371,062 shares during the period. Geode Capital Management LLC boosted its position in shares of AMETEK by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 5,526,369 shares of the technology company's stock worth $993,546,000 after purchasing an additional 124,713 shares in the last quarter. Finally, Norges Bank bought a new position in shares of AMETEK during the fourth quarter worth $697,080,000. Institutional investors and hedge funds own 87.43% of the company's stock.

AMETEK Stock Performance

Shares of AME traded down $1.15 during midday trading on Friday, reaching $178.55. The stock had a trading volume of 1,011,971 shares, compared to its average volume of 1,307,320. The firm has a 50 day simple moving average of $179.29 and a 200-day simple moving average of $176.92. AMETEK, Inc. has a one year low of $145.02 and a one year high of $198.33. The firm has a market cap of $41.22 billion, a PE ratio of 29.22, a P/E/G ratio of 2.65 and a beta of 1.09. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, beating analysts' consensus estimates of $1.69 by $0.06. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the firm posted $1.64 EPS. The company's quarterly revenue was down .2% on a year-over-year basis. As a group, sell-side analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Friday, June 13th. AMETEK's dividend payout ratio (DPR) is presently 20.29%.

Analysts Set New Price Targets

Several brokerages recently commented on AME. Melius Research raised AMETEK to a "hold" rating in a research note on Monday. Truist Financial raised their price objective on AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Wall Street Zen raised AMETEK from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Royal Bank Of Canada raised their price objective on AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, Mizuho set a $212.00 price objective on AMETEK in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $197.30.

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.