Victory Capital Management Inc. Buys 1,928 Shares of AMETEK, Inc. (NYSE:AME)

Victory Capital Management Inc. lifted its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,869 shares of the technology company's stock after purchasing an additional 1,928 shares during the quarter. Victory Capital Management Inc. owned about 0.05% of AMETEK worth $21,323,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AME. DAVENPORT & Co LLC raised its holdings in shares of AMETEK by 0.8% in the 1st quarter. DAVENPORT & Co LLC now owns 7,125 shares of the technology company's stock worth $1,226,000 after acquiring an additional 60 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in shares of AMETEK in the 1st quarter worth about $293,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of AMETEK by 10.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 115,194 shares of the technology company's stock worth $19,829,000 after acquiring an additional 10,685 shares during the last quarter. National Bank of Canada FI increased its stake in AMETEK by 17.4% in the 4th quarter. National Bank of Canada FI now owns 142,093 shares of the technology company's stock valued at $25,616,000 after buying an additional 21,009 shares during the last quarter. Finally, Fenimore Asset Management Inc increased its stake in AMETEK by 1.6% in the 1st quarter. Fenimore Asset Management Inc now owns 277,371 shares of the technology company's stock valued at $47,747,000 after buying an additional 4,502 shares during the last quarter. Institutional investors own 87.43% of the company's stock.

AMETEK Price Performance

Shares of NYSE:AME opened at $178.05 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.41. The firm has a fifty day moving average price of $179.43 and a 200 day moving average price of $176.87. AMETEK, Inc. has a fifty-two week low of $145.02 and a fifty-two week high of $198.33. The firm has a market cap of $41.11 billion, a price-to-earnings ratio of 29.14, a P/E/G ratio of 2.68 and a beta of 1.09.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.69 by $0.06. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the firm earned $1.64 earnings per share. AMETEK's revenue was down .2% on a year-over-year basis. As a group, sell-side analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 0.70%. The ex-dividend date was Friday, June 13th. AMETEK's dividend payout ratio is presently 20.29%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Morgan Stanley started coverage on shares of AMETEK in a research report on Monday, April 14th. They set an "equal weight" rating and a $170.00 target price for the company. Melius Research raised shares of AMETEK to a "hold" rating in a report on Monday, July 14th. Robert W. Baird cut their price objective on shares of AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Mizuho set a $212.00 target price on shares of AMETEK in a research note on Friday, May 16th. Finally, Royal Bank Of Canada increased their target price on shares of AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $197.30.

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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