Distillate Capital Partners LLC Takes $15.30 Million Position in AMETEK, Inc. (NYSE:AME)

Distillate Capital Partners LLC purchased a new position in shares of AMETEK, Inc. (NYSE:AME) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 91,767 shares of the technology company’s stock, valued at approximately $15,298,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its position in AMETEK by 7.3% during the first quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company’s stock worth $157,000 after purchasing an additional 61 shares during the period. MorganRosel Wealth Management LLC raised its position in AMETEK by 1.6% during the second quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company’s stock valued at $648,000 after purchasing an additional 61 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its position in AMETEK by 4.8% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock valued at $224,000 after purchasing an additional 61 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in AMETEK by 2.4% during the second quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock worth $440,000 after purchasing an additional 62 shares during the last quarter. Finally, Checchi Capital Advisers LLC increased its stake in shares of AMETEK by 2.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock valued at $371,000 after purchasing an additional 63 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AME has been the subject of several research analyst reports. Wolfe Research raised AMETEK to a “hold” rating in a research note on Wednesday, September 18th. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. TD Cowen lowered their price target on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a report on Monday, August 5th. Royal Bank of Canada cut their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Robert W. Baird dropped their target price on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Five equities research 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.29.

AMETEK Trading Down 0.0 %

NYSE AME opened at $171.09 on Tuesday. 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 52 week low of $136.89 and a 52 week high of $186.32. The business has a 50 day moving average price of $166.55 and a 200-day moving average price of $171.19. The company has a market cap of $39.60 billion, a price-to-earnings ratio of 30.07, a P/E/G 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 for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $1.57 earnings per share. As a group, equities analysts expect 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. Shareholders of record on Monday, September 16th will be issued 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%.

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.