Handelsbanken Fonder AB lessened its stake in AMETEK, Inc. (NYSE:AME – Free Report) by 67.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,942 shares of the technology company’s stock after selling 25,114 shares during the quarter. Handelsbanken Fonder AB’s holdings in AMETEK were worth $1,736,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Covestor Ltd increased its stake in shares of AMETEK by 84.3% during the 1st quarter. Covestor Ltd now owns 212 shares of the technology company’s stock worth $28,000 after purchasing an additional 97 shares during the last quarter. Resurgent Financial Advisors LLC acquired a new position in shares of AMETEK during the 4th quarter worth $28,000. Grey Fox Wealth Advisors LLC acquired a new position in shares of AMETEK during the 4th quarter worth $29,000. Arlington Partners LLC increased its stake in shares of AMETEK by 455.8% during the 4th quarter. Arlington Partners LLC now owns 239 shares of the technology company’s stock worth $33,000 after purchasing an additional 196 shares during the last quarter. Finally, Belpointe Asset Management LLC acquired a new position in shares of AMETEK during the 4th quarter worth $34,000. Institutional investors and hedge funds own 85.13% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the stock. DA Davidson raised their target price on shares of AMETEK from $177.00 to $180.00 in a research note on Thursday, June 8th. Mizuho raised their target price on shares of AMETEK from $153.00 to $161.00 in a research note on Wednesday, May 3rd. Finally, StockNews.com assumed 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 six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $160.86.
AMETEK Price Performance
AMETEK (NYSE:AME – Get Free Report) last issued its quarterly earnings results on Tuesday, May 2nd. The technology company reported $1.49 earnings per share for the quarter, beating 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 firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the firm earned $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 year.
AMETEK Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Monday, June 12th were issued 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 presently 19.38%.
About AMETEK
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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