Pacer Advisors Inc. Raises Holdings in AMETEK, Inc. (NYSE:AME)

Pacer Advisors Inc. grew its stake in AMETEK, Inc. (NYSE:AME) by 78.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 80,576 shares of the technology company’s stock after buying an additional 35,534 shares during the quarter. Pacer Advisors Inc.’s holdings in AMETEK were worth $13,870,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. DAVENPORT & Co LLC increased its holdings in AMETEK by 0.8% in the first quarter. DAVENPORT & Co LLC now owns 7,125 shares of the technology company’s stock valued at $1,226,000 after buying an additional 60 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of AMETEK during the 1st quarter worth about $293,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of AMETEK by 10.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 115,194 shares of the technology company’s stock valued at $19,829,000 after acquiring an additional 10,685 shares during the last quarter. National Bank of Canada FI boosted its holdings in AMETEK by 17.4% in the fourth quarter. National Bank of Canada FI now owns 142,093 shares of the technology company’s stock valued at $25,616,000 after purchasing an additional 21,009 shares in the last quarter. Finally, Fenimore Asset Management Inc increased its stake in AMETEK by 1.6% in the first quarter. Fenimore Asset Management Inc now owns 277,371 shares of the technology company’s stock valued at $47,747,000 after purchasing an additional 4,502 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Trading Up 0.1%

NYSE:AME opened at $179.91 on Friday. 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’s 50 day simple moving average is $179.34 and its 200-day simple moving average is $176.91. The firm has a market cap of $41.54 billion, a P/E ratio of 29.44, a PEG ratio of 2.70 and a beta of 1.09.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.75 earnings per share (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 company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the company posted $1.64 EPS. AMETEK’s revenue was down .2% compared to the same quarter last year. Equities analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Friday, June 13th. AMETEK’s dividend payout ratio is presently 20.29%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AME. Royal Bank Of Canada boosted their price objective on shares of AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Mizuho set a $212.00 price target on shares of AMETEK in a research report on Friday, May 16th. Morgan Stanley initiated coverage on AMETEK in a report on Monday, April 14th. They set an “equal weight” rating and a $170.00 price objective on the stock. Truist Financial boosted their target price on AMETEK from $196.00 to $200.00 and gave the company a “buy” rating in a report on Monday, May 5th. Finally, Robert W. Baird decreased their target price on AMETEK from $197.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AMETEK has a consensus rating of “Moderate Buy” and a consensus price target of $197.30.

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.