Parallel Advisors LLC boosted its stake in shares of AMETEK, Inc. (NYSE:AME – Free Report) by 6.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,082 shares of the technology company’s stock after purchasing an additional 121 shares during the period. Parallel Advisors LLC’s holdings in AMETEK were worth $303,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of AME. Norges Bank purchased a new stake in shares of AMETEK during the 4th quarter worth about $509,944,000. Price T Rowe Associates Inc. MD boosted its stake in shares of AMETEK by 643.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,953,131 shares of the technology company’s stock worth $552,332,000 after acquiring an additional 3,421,558 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in shares of AMETEK by 39,681.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,827,569 shares of the technology company’s stock worth $255,348,000 after acquiring an additional 1,822,975 shares in the last quarter. Morgan Stanley boosted its stake in shares of AMETEK by 93.2% during the 4th quarter. Morgan Stanley now owns 3,678,094 shares of the technology company’s stock worth $513,903,000 after acquiring an additional 1,774,651 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of AMETEK by 45.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,549,101 shares of the technology company’s stock worth $206,310,000 after acquiring an additional 485,407 shares in the last quarter. 85.13% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. Mizuho increased their target price on shares of AMETEK from $153.00 to $161.00 in a research note on Wednesday, May 3rd. DA Davidson raised their price target on shares of AMETEK from $177.00 to $180.00 in a research note on Thursday, June 8th. Finally, StockNews.com started coverage on shares of AMETEK in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $160.86.
AMETEK Trading Down 0.5 %
AMETEK (NYSE:AME – Get Free Report) last released its earnings results on Tuesday, May 2nd. The technology company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.08. AMETEK had a net margin of 18.97% and a return on equity of 18.42%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the company posted $1.33 EPS. The business’s revenue was up 9.5% on a year-over-year basis. Analysts expect that AMETEK, Inc. will post 6.12 EPS for the current fiscal year.
AMETEK Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Monday, June 12th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Friday, June 9th. AMETEK’s dividend payout ratio (DPR) is 19.38%.
AMETEK Profile
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in North America, Europe, Asia, and South America. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.Its EMG segment offers engineered electrical connectors and electronics packaging to protect sensitive devices and mission-critical electronics; precision motion control products for data storage, medical devices, business equipment, automation, and other applications; high-purity powdered metals, strips and foils, specialty clad metals, and metal matrix composites; motor-blower systems and heat exchangers for use in thermal management, military, commercial aircraft, and military ground vehicles; and motors for use in commercial appliances, fitness equipment, food and beverage machines, hydraulic pumps, and industrial blowers.
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