Tokio Marine Asset Management Co. Ltd. Increases Holdings in AMETEK, Inc. (NYSE:AME)

Key Points

• Tokio Marine Asset Management Co. Ltd. increased its holdings in AMETEK, Inc. by 7.8% in Q1, reaching a total value of $8.26 million.
• Several institutional investors have also significantly adjusted their stakes in AMETEK, with 87.43% of the stock now owned by these entities.
• AMETEK recently reported earnings of $1.78 per share for the last quarter, exceeding estimates, with a projected consensus rating of "Moderate Buy" and a target price averaging $208.00.

Tokio Marine Asset Management Co. Ltd. lifted its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 7.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,966 shares of the technology company's stock after buying an additional 3,479 shares during the quarter. Tokio Marine Asset Management Co. Ltd.'s holdings in AMETEK were worth $8,257,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Olde Wealth Management LLC acquired a new position in shares of AMETEK during the first quarter valued at approximately $29,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of 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 acquiring an additional 71 shares during the last quarter. Banque Transatlantique SA acquired a new position in shares of AMETEK during the fourth quarter valued at approximately $37,000. Zions Bancorporation National Association UT acquired a new stake in shares of AMETEK in the first quarter valued at approximately $42,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of AMETEK in the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 87.43% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AME. Royal Bank Of Canada increased their price target on AMETEK from $209.00 to $212.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Robert W. Baird increased their price target on AMETEK from $190.00 to $198.00 and gave the company a "neutral" rating in a report on Monday, August 4th. KeyCorp increased their price target on AMETEK from $195.00 to $205.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Melius Research raised AMETEK to a "hold" rating in a report on Monday, July 14th. Finally, Morgan Stanley raised their target price on AMETEK from $185.00 to $198.00 and gave the stock an "equal weight" rating in a research note on Friday, August 8th. One investment 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's stock. According to MarketBeat.com, AMETEK currently has an average rating of "Moderate Buy" and an average price target of $208.00.

AMETEK Trading Down 1.9%

Shares of AME traded down $3.57 during midday trading on Friday, hitting $181.21. 1,556,620 shares of the stock were exchanged, compared to its average volume of 1,423,472. The firm has a market cap of $41.85 billion, a P/E ratio of 29.18, a P/E/G ratio of 2.62 and a beta of 1.10. The stock has a fifty day simple moving average of $180.57 and a 200 day simple moving average of $176.95. AMETEK, Inc. has a 52-week low of $145.02 and a 52-week high of $198.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.63.

AMETEK (NYSE:AME - Get Free Report) last released its earnings results on Thursday, July 31st. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.69 by $0.09. The firm had revenue of $1.78 billion during 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 was up 2.5% compared to the same quarter last year. During the same period last year, the business posted $1.66 earnings per share. On average, research analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Dividend Announcement

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