Vanguard Group Inc. Boosts Stake in AMETEK, Inc. (NYSE:AME)

Key Points

• Vanguard Group Inc. raised its holdings in AMETEK, Inc. by 1.3% during the 1st quarter, now owning approximately 11.47% of the company, valued at $4.56 billion.
• AMETEK reported earnings of $1.78 per share, exceeding analyst expectations of $1.69, and had revenues of $1.78 billion for the quarter.
• Analysts have diverse ratings on AMETEK, with one downgrade and target price revisions, leading to a consensus target price of $205.20 and an overall rating of "Moderate Buy."

Vanguard Group Inc. grew its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,484,263 shares of the technology company's stock after acquiring an additional 336,491 shares during the period. Vanguard Group Inc. owned about 11.47% of AMETEK worth $4,559,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Olde Wealth Management LLC bought a new position in shares of AMETEK during the 1st quarter valued at about $29,000. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of AMETEK by 57.7% during the 1st 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 during the last quarter. Banque Transatlantique SA bought a new position in shares of AMETEK during the 4th quarter valued at about $37,000. Minot DeBlois Advisors LLC bought a new position in shares of AMETEK during the 4th quarter valued at about $43,000. Finally, Costello Asset Management INC bought a new position in shares of AMETEK during the 1st quarter valued at about $43,000. Institutional investors own 87.43% of the company's stock.

Analysts Set New Price Targets

AME has been the subject of several research reports. Melius downgraded shares of AMETEK from a "buy" rating to a "hold" rating and set a $192.00 price objective for the company. in a report on Monday, July 14th. Melius Research raised shares of AMETEK to a "hold" rating in a report on Monday, July 14th. Mizuho upped their target price on shares of AMETEK from $212.00 to $225.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. DA Davidson upped their target price on shares of AMETEK from $210.00 to $215.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Wall Street Zen raised shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $208.00.

AMETEK Trading Down 0.2%

AME stock traded down $0.30 during mid-day trading on Friday, reaching $181.94. The company had a trading volume of 814,828 shares, compared to its average volume of 1,530,621. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.63 and a quick ratio of 1.04. The company has a market capitalization of $42.02 billion, a PE ratio of 29.30, a price-to-earnings-growth ratio of 2.63 and a beta of 1.10. The firm has a 50 day moving average of $179.90 and a 200 day moving average of $177.01. AMETEK, Inc. has a 12 month low of $145.02 and a 12 month high of $198.33.

AMETEK (NYSE:AME - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a net margin of 20.60% and a return on equity of 16.53%. The company's quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $1.66 earnings per share. On average, equities analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 0.7%. 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.