Ashton Thomas Private Wealth LLC Takes $61,000 Position in AMETEK, Inc. (NYSE:AME)

Ashton Thomas Private Wealth LLC bought a new position in shares of AMETEK, Inc. (NYSE:AME) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 365 shares of the technology company’s stock, valued at approximately $61,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. acquired a new stake in AMETEK during the first quarter valued at approximately $37,000. Family Firm Inc. bought a new position in shares of AMETEK in the second quarter valued at $39,000. Headlands Technologies LLC acquired a new stake in shares of AMETEK during the 1st quarter valued at $43,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of AMETEK during the 2nd quarter worth $42,000. Finally, Mendota Financial Group LLC acquired a new position in shares of AMETEK in the 1st quarter worth $50,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on AME. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. TD Cowen dropped their target price on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Royal Bank of Canada cut their price target on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Oppenheimer raised shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a research note on Wednesday, May 22nd. Finally, StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $186.29.

AMETEK Trading Up 0.4 %

Shares of NYSE:AME opened at $167.51 on Monday. The firm has a fifty day moving average of $166.25 and a two-hundred day moving average of $171.64. 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 12-month low of $136.89 and a 12-month high of $186.32. The firm has a market capitalization of $38.79 billion, a P/E ratio of 29.44, a price-to-earnings-growth ratio of 2.71 and a beta of 1.17.

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

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Monday, September 16th. AMETEK’s dividend payout ratio (DPR) is presently 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.