Davis R M Inc. Sells 2,870 Shares of AMETEK, Inc. (NYSE:AME)

Davis R M Inc. lessened its holdings in AMETEK, Inc. (NYSE:AME) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 326,622 shares of the technology company’s stock after selling 2,870 shares during the quarter. AMETEK accounts for approximately 1.1% of Davis R M Inc.’s investment portfolio, making the stock its 25th biggest position. Davis R M Inc.’s holdings in AMETEK were worth $56,225,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AME. Olde Wealth Management LLC bought a new stake in AMETEK in the 1st quarter valued at about $29,000. Banque Transatlantique SA bought a new stake in shares of AMETEK in the fourth quarter valued at approximately $37,000. Minot DeBlois Advisors LLC acquired a new stake in AMETEK during the fourth quarter worth approximately $43,000. N.E.W. Advisory Services LLC bought a new position in AMETEK during the 1st quarter worth $48,000. Finally, Golden State Wealth Management LLC raised its holdings in 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 acquiring an additional 197 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on AME shares. Melius Research raised AMETEK to a “hold” rating in a report on Monday, July 14th. Wall Street Zen raised shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Truist Financial raised their target price on shares of AMETEK from $196.00 to $200.00 and gave the company a “buy” rating in a report on Monday, May 5th. Mizuho set a $212.00 target price on shares of AMETEK in a research report on Friday, May 16th. Finally, Melius downgraded shares of AMETEK from a “buy” rating to a “hold” rating and set a $192.00 price target for the company. in a report on Monday, July 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AMETEK has a consensus rating of “Moderate Buy” and an average price target of $197.30.

AMETEK Stock Down 1.3%

AME stock opened at $176.64 on Thursday. The firm has a 50-day moving average price of $179.23 and a 200-day moving average price of $176.93. AMETEK, Inc. has a 12 month low of $145.02 and a 12 month 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. The stock has a market capitalization of $40.78 billion, a P/E ratio of 28.91, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.69 by $0.06. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. The firm’s revenue was down .2% compared to the same quarter last year. As a group, equities research analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Announces Dividend

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

About AMETEK

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.