Russell Investments Group Ltd. Buys 34,391 Shares of AMETEK, Inc. (NYSE:AME)

Key Points

• Russell Investments Group Ltd. increased its stake in AMETEK, Inc. by 24.9%, owning 172,429 shares valued at $29.6 million after acquiring an additional 34,391 shares in Q1.
• In recent analyst reports, AMETEK received multiple upgrades, including a price target increase by KeyCorp from $195 to $205, overall consensus rating of "Moderate Buy," and an average price target of $208.
• AMETEK plans to pay a quarterly dividend of $0.31 per share on September 30th, resulting in an annual yield of approximately 0.7%.

Russell Investments Group Ltd. boosted its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 24.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,429 shares of the technology company's stock after purchasing an additional 34,391 shares during the quarter. Russell Investments Group Ltd. owned about 0.07% of AMETEK worth $29,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Olde Wealth Management LLC bought a new stake in AMETEK during the first quarter valued at about $29,000. Annis Gardner Whiting Capital Advisors LLC boosted its position in AMETEK by 57.7% during the first 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 bought a new stake in AMETEK during the fourth quarter valued at about $37,000. Minot DeBlois Advisors LLC purchased a new stake in AMETEK in the fourth quarter valued at about $43,000. Finally, Zions Bancorporation National Association UT purchased a new stake in AMETEK in the first quarter valued at about $42,000. Institutional investors own 87.43% of the company's stock.

Analyst Upgrades and Downgrades

AME has been the subject of a number of research analyst reports. Melius Research upgraded AMETEK to a "hold" rating in a research note on Monday, July 14th. KeyCorp increased their price target on AMETEK from $195.00 to $205.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Wall Street Zen upgraded AMETEK from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Melius cut AMETEK from a "buy" rating to a "hold" rating and set a $192.00 price objective for the company. in a research note on Monday, July 14th. Finally, DA Davidson raised their price objective on AMETEK from $210.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $208.00.

AMETEK Stock Down 1.9%

AMETEK stock opened at $181.21 on Friday. The firm has a market cap of $41.85 billion, a price-to-earnings ratio of 29.18, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week high of $198.33. The business's 50-day moving average price is $180.57 and its 200 day moving average price is $176.99. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.15.

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

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, September 15th. AMETEK's dividend payout ratio (DPR) is 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.

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