King Luther Capital Management Corp Increases Stock Holdings in AMETEK, Inc. (NYSE:AME)

King Luther Capital Management Corp lifted its stake in shares of AMETEK, Inc. (NYSE:AME) by 1.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 98,638 shares of the technology company’s stock after buying an additional 1,496 shares during the quarter. King Luther Capital Management Corp’s holdings in AMETEK were worth $16,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of AME. Washington Trust Advisors Inc. purchased a new position in AMETEK during the 1st quarter worth $37,000. Family Firm Inc. purchased a new position in AMETEK during the second quarter worth about $39,000. Industrial Alliance Investment Management Inc. acquired a new stake in AMETEK in the second quarter valued at about $42,000. Headlands Technologies LLC purchased a new stake in AMETEK in the 1st quarter valued at approximately $43,000. Finally, Crewe Advisors LLC increased its position in AMETEK by 168.8% during the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock worth $49,000 after purchasing an additional 184 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on AME. Royal Bank of Canada reduced their price target on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Truist Financial decreased their target price on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Robert W. Baird decreased their price objective on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AMETEK has a consensus rating of “Moderate Buy” and a consensus target price of $186.29.

AMETEK Trading Down 0.7 %

Shares of AME stock opened at $171.10 on Friday. The stock has a market cap of $39.60 billion, a P/E ratio of 30.07, a P/E/G ratio of 2.71 and a beta of 1.17. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. AMETEK, Inc. has a fifty-two week low of $136.89 and a fifty-two week high of $186.32. The business has a fifty day simple moving average of $166.57 and a 200-day simple moving average of $171.39.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.02. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. During the same period last year, the firm posted $1.57 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts forecast that AMETEK, Inc. will post 6.77 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.28 per share. The ex-dividend date is Monday, September 16th. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. AMETEK’s dividend payout ratio is currently 19.68%.

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.