Valeo Financial Advisors LLC Acquires New Position in AMETEK, Inc. (NYSE:AME)

Valeo Financial Advisors LLC purchased a new position in shares of AMETEK, Inc. (NYSE:AME - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,395 shares of the technology company's stock, valued at approximately $240,000.

Other large investors also recently bought and sold shares of the company. DAVENPORT & Co LLC raised its stake in AMETEK by 0.8% during the first quarter. DAVENPORT & Co LLC now owns 7,125 shares of the technology company's stock worth $1,226,000 after purchasing an additional 60 shares during the period. Sowell Financial Services LLC purchased a new position in AMETEK during the first quarter worth approximately $293,000. Wealth Enhancement Advisory Services LLC raised its stake in AMETEK by 10.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 115,194 shares of the technology company's stock worth $19,829,000 after purchasing an additional 10,685 shares during the period. National Bank of Canada FI raised its stake in AMETEK by 17.4% during the fourth quarter. National Bank of Canada FI now owns 142,093 shares of the technology company's stock worth $25,616,000 after purchasing an additional 21,009 shares during the period. Finally, Fenimore Asset Management Inc raised its stake in AMETEK by 1.6% during the first quarter. Fenimore Asset Management Inc now owns 277,371 shares of the technology company's stock worth $47,747,000 after purchasing an additional 4,502 shares during the period. Hedge funds and other institutional investors own 87.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Robert W. Baird cut their price target on shares of AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Royal Bank Of Canada increased their price objective on shares of AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Truist Financial increased their price objective on shares of AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Mizuho set a $212.00 price objective on shares of AMETEK in a research report on Friday, May 16th. Finally, Morgan Stanley assumed coverage on shares of AMETEK in a research report on Monday, April 14th. They issued an "equal weight" rating and a $170.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $197.89.

AMETEK Price Performance

AME opened at $180.99 on Friday. The company has a fifty day simple moving average of $178.66 and a 200 day simple moving average of $177.05. The firm has a market cap of $41.79 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 2.72 and a beta of 1.09. AMETEK, Inc. has a twelve month low of $145.02 and a twelve month high of $198.33. 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 released its quarterly earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share for the quarter, beating analysts' consensus estimates of $1.69 by $0.06. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. The business's revenue was down .2% on a year-over-year basis. During the same period last year, the business earned $1.64 EPS. Equities research analysts expect that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Friday, June 13th. AMETEK's payout ratio is 20.29%.

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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