Private Advisor Group LLC Buys 1,563 Shares of AMETEK, Inc. (NYSE:AME)

Private Advisor Group LLC grew its stake in shares of AMETEK, Inc. (NYSE:AME) by 18.1% during the second quarter, HoldingsChannel reports. The firm owned 10,210 shares of the technology company’s stock after purchasing an additional 1,563 shares during the quarter. Private Advisor Group LLC’s holdings in AMETEK were worth $1,702,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AME. Washington Trust Advisors Inc. purchased a new position in shares of AMETEK during the 1st quarter worth approximately $37,000. Family Firm Inc. bought a new stake in shares of AMETEK during the second quarter valued at approximately $39,000. Headlands Technologies LLC purchased a new stake in AMETEK in the first quarter worth $43,000. Industrial Alliance Investment Management Inc. bought a new position in AMETEK in the second quarter worth $42,000. Finally, Mendota Financial Group LLC purchased a new position in AMETEK during the first quarter valued at $50,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Stock Performance

Shares of AME opened at $167.51 on Friday. The company has a market cap of $38.79 billion, a price-to-earnings ratio of 29.44, a P/E/G ratio of 2.71 and a beta of 1.17. The business’s fifty day simple moving average is $166.25 and its two-hundred day simple moving average is $171.73. AMETEK, Inc. has a 12 month low of $136.89 and a 12 month high of $186.32. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20.

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

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. AMETEK’s payout ratio is 19.68%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AME shares. Royal Bank of Canada decreased their price target on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Oppenheimer raised shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a research note on Wednesday, May 22nd. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Robert W. Baird reduced their price objective on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $186.29.

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.