Xponance Inc. Grows Stake in AMETEK, Inc. (NYSE:AME)

Xponance Inc. boosted its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 8.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,554 shares of the technology company's stock after buying an additional 2,830 shares during the period. Xponance Inc.'s holdings in AMETEK were worth $6,120,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Olde Wealth Management LLC bought a new stake in shares of AMETEK in the 1st quarter valued at approximately $29,000. Banque Transatlantique SA bought a new stake in shares of AMETEK in the 4th quarter valued at approximately $37,000. Minot DeBlois Advisors LLC bought a new stake in shares of AMETEK in the 4th quarter valued at approximately $43,000. Golden State Wealth Management LLC lifted its stake in shares of AMETEK by 201.0% in the 1st quarter. Golden State Wealth Management LLC now owns 295 shares of the technology company's stock valued at $51,000 after purchasing an additional 197 shares during the last quarter. Finally, Ancora Advisors LLC lifted its stake in shares of AMETEK by 15,950.0% in the 4th quarter. Ancora Advisors LLC now owns 321 shares of the technology company's stock valued at $58,000 after purchasing an additional 319 shares during the last quarter. 87.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AME. Robert W. Baird lowered their price objective on AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Morgan Stanley initiated coverage on AMETEK in a research note on Monday, April 14th. They issued an "equal weight" rating and a $170.00 price objective for the company. Royal Bank Of Canada raised their price target on AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Truist Financial raised their price target on AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Finally, Wall Street Zen raised AMETEK from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, AMETEK currently has an average rating of "Moderate Buy" and an average price target of $197.89.

AMETEK Trading Down 0.2%

Shares of AME stock traded down $0.45 on Friday, reaching $180.99. 839,398 shares of the company's stock were exchanged, compared to its average volume of 1,305,164. The company's fifty day simple moving average is $178.66 and its 200 day simple moving average is $177.00. The stock has a market capitalization of $41.79 billion, a PE ratio of 29.62, a P/E/G ratio of 2.71 and a beta of 1.09. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week 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 data on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.69 by $0.06. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a return on equity of 16.75% and a net margin of 20.43%. AMETEK's quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the business posted $1.64 EPS. As a group, analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Dividend Announcement

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