Miles Capital Inc. purchased a new position in shares of AMETEK, Inc. (NYSE:AME) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,017 shares of the technology company’s stock, valued at approximately $274,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. Cornerstone Advisors Inc. increased its stake in shares of AMETEK by 55.2% during the first quarter. Cornerstone Advisors Inc. now owns 388 shares of the technology company’s stock worth $32,000 after buying an additional 138 shares during the period. Berman Capital Advisors LLC increased its stake in shares of AMETEK by 51.3% during the second quarter. Berman Capital Advisors LLC now owns 454 shares of the technology company’s stock worth $41,000 after buying an additional 154 shares during the period. Ibex Wealth Advisors purchased a new stake in shares of AMETEK during the second quarter worth approximately $52,000. Legacy Advisors LLC purchased a new stake in shares of AMETEK during the second quarter worth approximately $55,000. Finally, SRS Capital Advisors Inc. purchased a new stake in shares of AMETEK during the second quarter worth approximately $68,000. 86.10% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently weighed in on AME. Royal Bank of Canada set a $95.00 target price on shares of AMETEK and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley upped their target price on shares of AMETEK from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Oppenheimer upped their target price on shares of AMETEK from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Zacks Investment Research upgraded shares of AMETEK from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Thursday, June 13th. Finally, ValuEngine lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. AMETEK currently has a consensus rating of “Buy” and a consensus price target of $94.36.
AMETEK stock traded up $0.82 during mid-day trading on Friday, hitting $90.64. The company had a trading volume of 40,257 shares, compared to its average volume of 1,051,397. The stock has a market cap of $20.19 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 2.26 and a beta of 1.21. AMETEK, Inc. has a 1 year low of $63.14 and a 1 year high of $92.30. The company has a quick ratio of 1.53, a current ratio of 2.17 and a debt-to-equity ratio of 0.51. The business has a fifty day moving average of $86.55 and a 200 day moving average of $85.46.
AMETEK (NYSE:AME) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.02. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. AMETEK had a net margin of 16.32% and a return on equity of 19.27%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.83 earnings per share. Equities analysts anticipate that AMETEK, Inc. will post 4.1 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.14 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.56 annualized dividend and a yield of 0.62%. AMETEK’s dividend payout ratio is currently 17.02%.
AMETEK Company Profile
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.
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