Kensington Investment Counsel LLC Has $1.96 Million Stake in AMETEK, Inc. $AME

Kensington Investment Counsel LLC lowered its position in AMETEK, Inc. (NYSE:AME) by 23.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,133 shares of the technology company’s stock after selling 2,760 shares during the quarter. Kensington Investment Counsel LLC’s holdings in AMETEK were worth $1,958,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Kentucky Retirement Systems lifted its stake in AMETEK by 39.7% in the 1st quarter. Kentucky Retirement Systems now owns 20,207 shares of the technology company’s stock valued at $4,332,000 after purchasing an additional 5,743 shares during the last quarter. Oddo BHF Asset Management Sas lifted its position in shares of AMETEK by 13.8% in the first quarter. Oddo BHF Asset Management Sas now owns 32,237 shares of the technology company’s stock valued at $6,907,000 after buying an additional 3,917 shares during the last quarter. Bull Harbor Capital LLC acquired a new position in shares of AMETEK during the 1st quarter worth approximately $699,000. Sunbelt Securities Inc. lifted its holdings in AMETEK by 10,800.0% during the 1st quarter. Sunbelt Securities Inc. now owns 981 shares of the technology company’s stock valued at $210,000 after purchasing an additional 972 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in AMETEK by 25.2% during the first quarter. EverSource Wealth Advisors LLC now owns 3,357 shares of the technology company’s stock worth $720,000 after purchasing an additional 675 shares during the period. 87.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AME shares. Mizuho set a $270.00 target price on shares of AMETEK in a report on Friday, May 1st. Truist Financial increased their target price on AMETEK from $275.00 to $303.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Wall Street Zen lowered AMETEK from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Citigroup began coverage on AMETEK in a research report on Monday, June 15th. They set a “neutral” rating and a $257.00 price objective on the stock. Finally, DA Davidson reissued a “buy” rating and set a $265.00 target price on shares of AMETEK in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, AMETEK has a consensus rating of “Moderate Buy” and an average target price of $256.29.

AMETEK Stock Down 2.4%

NYSE AME opened at $235.74 on Thursday. The company has a current ratio of 1.14, a quick ratio of 0.72 and a debt-to-equity ratio of 0.10. The company has a market cap of $54.03 billion, a price-to-earnings ratio of 35.61, a PEG ratio of 3.38 and a beta of 0.99. The company has a 50 day moving average of $232.88 and a 200-day moving average of $228.22. AMETEK, Inc. has a 1-year low of $175.61 and a 1-year high of $244.71.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, April 30th. The technology company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.07. AMETEK had a return on equity of 16.63% and a net margin of 20.11%.The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the business posted $1.75 earnings per share. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, equities research analysts expect that AMETEK, Inc. will post 8.14 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, June 15th. AMETEK’s dividend payout ratio is 20.54%.

AMETEK Company Profile

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.

The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.