Sargent Investment Group LLC Purchases Shares of 1,765 AMETEK, Inc. (NYSE:AME)

Sargent Investment Group LLC acquired a new stake in AMETEK, Inc. (NYSE:AME) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,765 shares of the technology company’s stock, valued at approximately $294,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in AMETEK by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 25,578,270 shares of the technology company’s stock valued at $4,217,601,000 after purchasing an additional 84,832 shares during the period. JPMorgan Chase & Co. increased its stake in shares of AMETEK by 48.4% during the first quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock valued at $1,294,121,000 after buying an additional 2,306,535 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of AMETEK by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company’s stock valued at $1,195,478,000 after buying an additional 44,899 shares during the period. Capital International Investors raised its holdings in shares of AMETEK by 5.0% during the fourth quarter. Capital International Investors now owns 4,196,755 shares of the technology company’s stock valued at $692,051,000 after acquiring an additional 198,777 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in AMETEK by 34.6% in the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock worth $600,615,000 after acquiring an additional 926,657 shares during the period. 87.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on AME shares. Truist Financial decreased their price objective on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Oppenheimer raised AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research report on Wednesday, May 22nd. TD Cowen decreased their target price 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, StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AMETEK currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.29.

AMETEK Price Performance

AME stock opened at $168.57 on Wednesday. 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 capitalization of $39.02 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 2.71 and a beta of 1.17. The firm has a 50 day moving average price of $166.41 and a 200-day moving average price of $171.47. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32.

AMETEK (NYSE:AME) last released its 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. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the company posted $1.57 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts forecast that AMETEK, Inc. will post 6.77 EPS for the current fiscal year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Monday, September 16th. AMETEK’s payout ratio is currently 19.68%.

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.