Sei Investments Co. Raises Holdings in AMETEK, Inc. $AME

Key Points

• Sei Investments Co. increased its stake in AMETEK, Inc. by 7.9%, acquiring an additional 11,887 shares, bringing its total ownership to 161,555 shares, valued at approximately $28.7 million.
• AMETEK recently reported a quarterly EPS of $1.78, exceeding analysts' expectations, with revenue of $1.78 billion and a year-over-year revenue growth of 2.5%.
• The company announced a quarterly dividend of $0.31, equating to an annualized dividend of $1.24 and a yield of 0.7%, with the ex-dividend date set for September 15th.

Sei Investments Co. grew its position in AMETEK, Inc. (NYSE:AME - Free Report) by 7.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 161,555 shares of the technology company's stock after buying an additional 11,887 shares during the period. Sei Investments Co. owned 0.07% of AMETEK worth $28,717,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of AMETEK by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 26,484,263 shares of the technology company's stock worth $4,559,001,000 after purchasing an additional 336,491 shares in the last quarter. Capital World Investors boosted 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 acquiring an additional 2,371,062 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of AMETEK by 2.8% during the first quarter. JPMorgan Chase & Co. now owns 5,747,368 shares of the technology company's stock worth $989,352,000 after acquiring an additional 154,682 shares during the last quarter. Flossbach Von Storch SE grew its stake in shares of AMETEK by 1.2% during the first quarter. Flossbach Von Storch SE now owns 3,770,066 shares of the technology company's stock worth $648,979,000 after acquiring an additional 45,714 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of AMETEK by 127.2% during the first quarter. Invesco Ltd. now owns 3,479,397 shares of the technology company's stock valued at $598,943,000 after acquiring an additional 1,947,831 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

AMETEK Price Performance

Shares of NYSE:AME traded up $1.27 during trading on Monday, reaching $182.63. 1,753,556 shares of the company's stock traded hands, compared to its average volume of 1,383,402. The firm has a market cap of $42.18 billion, a PE ratio of 29.41, a P/E/G ratio of 2.61 and a beta of 1.10. 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 company has a 50-day simple moving average of $180.57 and a 200-day simple moving average of $176.89.

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

AMETEK Announces Dividend

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

Analysts Set New Price Targets

Several research firms have weighed in on AME. Morgan Stanley boosted their target price on shares of AMETEK from $185.00 to $198.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Robert W. Baird boosted their price objective on shares of AMETEK from $190.00 to $198.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Truist Financial raised their target price on AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. DA Davidson increased their price objective on AMETEK from $210.00 to $215.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Royal Bank Of Canada raised their price target on shares of AMETEK from $209.00 to $212.00 and gave the stock an "outperform" rating in a research report 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $208.00.

AMETEK Company 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.