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

King Luther Capital Management Corp raised its holdings in AMETEK, Inc. (NYSE:AME) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,638 shares of the technology company’s stock after buying an additional 1,496 shares during the period. King Luther Capital Management Corp’s holdings in AMETEK were worth $16,444,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AME. Wells Fargo & Company MN grew its stake in AMETEK by 4.1% during the 4th quarter. Wells Fargo & Company MN now owns 454,487 shares of the technology company’s stock worth $74,941,000 after purchasing an additional 17,800 shares in the last quarter. D.A. Davidson & CO. purchased a new stake in shares of AMETEK during the fourth quarter worth approximately $201,000. Cambridge Investment Research Advisors Inc. raised its holdings in AMETEK by 238.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 14,537 shares of the technology company’s stock valued at $2,397,000 after acquiring an additional 10,241 shares in the last quarter. US Bancorp DE raised its holdings in AMETEK by 41.9% in the fourth quarter. US Bancorp DE now owns 50,393 shares of the technology company’s stock valued at $8,309,000 after acquiring an additional 14,882 shares in the last quarter. Finally, TCW Group Inc. lifted its stake in AMETEK by 3.8% in the fourth quarter. TCW Group Inc. now owns 112,081 shares of the technology company’s stock worth $18,482,000 after acquiring an additional 4,141 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Stock Performance

Shares of AME stock opened at $171.10 on Friday. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26. The firm has a market cap of $39.60 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 2.71 and a beta of 1.17. The stock’s 50-day moving average is $166.57 and its two-hundred day moving average is $171.39.

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

AMETEK Dividend Announcement

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

Analysts Set New Price Targets

AME has been the topic of a number of recent analyst reports. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Truist Financial dropped their target price on AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. TD Cowen lowered their price objective on AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Finally, Royal Bank of Canada cut their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.