As of the first quarter of this year, Power Corp of Canada has increased its stake in AMETEK, Inc. (NYSE:AME) by 100.0%, according to the company’s latest 13F filing with the Securities and Exchange Commission (SEC). The firm now owns a total of 8,292 shares of AMETEK stock, acquiring an additional 4,146 shares during the period. The value of Power Corp of Canada’s holdings in AMETEK amounts to $1,155,000 as stated in its most recent filing with the SEC.
AMETEK (NYSE:AME) recently reported its earnings results for the quarter ended on August 1st. The technology company revealed that it achieved earnings per share (EPS) of $1.57 in that quarter, surpassing the consensus estimate by $0.05 per share. The net margin for AMETEK stood at 19.23%, while the return on equity reached 18.32%. In terms of revenue, the company generated $1.65 billion during this period compared to analysts’ expectations set at $1.64 billion. This represents an increase of 8.7% in revenue from the same quarter the previous year when AMETEK posted EPS of $1.38.
Equities analysts have projected that AMETEK, Inc will achieve an EPS of 6.25 for this fiscal year on average.
For further analysis and insights regarding AME stock, kindly refer to our latest report.
Aehr Test Systems
Updated on: 07/12/2023
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
10:00 PM (UTC)
Date:06 December, 2023
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Growing Enthusiasm and Positive Outlook Surrounds AMETEK’s Performance and Future Prospects
As of September 13, 2023, institutional investors and hedge funds have made significant changes to their positions in AMETEK, a technology company. Norges Bank, for instance, purchased a new stake in shares of AMETEK during the fourth quarter of the previous year, valued at approximately $509,944,000. Price T Rowe Associates Inc. MD also increased its stake in AMETEK by a considerable 643.7% during the same period. FMR LLC followed suit by increasing its stake by 34.9% in the first quarter, while Moneta Group Investment Advisors LLC saw a staggering increase of 39,681.6% during the fourth quarter. Morgan Stanley wraps up this list with a 93.2% increase in stock ownership during the fourth quarter as well.
Given these changes, it is noteworthy that 85.70% of AMETEK’s stock is now owned by hedge funds and other institutional investors. This suggests a high level of trust and confidence in the company’s prospects and potential for growth.
On Wednesday, shares of AMETEK opened at $151.69 with a fifty-day simple moving average of $157.55 and a two-hundred day simple moving average of $149.21. Over the past twelve months, the company’s stock has ranged from a low of $110.87 to a high of $164.75.
AMETEK currently boasts a current ratio of 2.16 and a quick ratio of 1.34, indicating its strong liquidity position to cover short-term obligations efficiently. Additionally, it carries a debt-to-equity ratio of 0.27, suggesting prudent financial management practices.
With a market capitalization of $35 billion and a price-to-earnings ratio of 28.41, AMETEK appears to be favorably priced according to traditional valuation metrics when compared to its industry peers on similar measures. Furthermore, the company’s PEG ratio of 2.74 indicates a relatively high growth expectation compared to its earnings ratio.
In terms of future capital returns, AMETEK announced a quarterly dividend that will be paid on Friday, September 29th. Shareholders of record as of Thursday, September 14th will receive a dividend payment of $0.25 per share. This equates to an annualized dividend rate of $1.00 per share and a dividend yield of 0.66%. The ex-dividend date for this dividend is Wednesday, September 13th.
Following these developments, several equities research analysts have given their opinions on shares of AMETEK. Morgan Stanley, for instance, raised its target price from $162.00 to $174.00 and assigned the stock an “overweight” rating in a recent research note released on August 2nd. StockNews.com also expressed confidence in AMETEK by covering the stock with a “buy” rating on August 17th. Mizuho increased its target price from $161.00 to $166.00 and gave the stock a “buy” rating as well.
Seaport Res Ptn reaffirmed their positive outlook with another “buy” rating on August 7th, and DA Davidson even boosted its price target on shares of AMETEK from $177.00 to $180.00 in early June.
Overall, based on data from Bloomberg, it appears that the consensus among analysts is a “Moderate Buy” rating for AMETEK with a consensus target price of approximately $175.29.
With various institutional investors making significant changes to their positions and equity research analysts expressing positive sentiment and raising target prices for AMETEK stocks, it seems clear that there is growing enthusiasm surrounding the company’s performance and future prospects in the market.