SeaCrest Wealth Management LLC, a prominent investment firm, recently announced that it has increased its holdings in AMETEK, Inc. The company’s stake in AMETEK rose by an astonishing 234.2% during the second quarter of this year. According to a recent Form 13F filing with the Securities and Exchange Commission, SeaCrest now owns 5,578 shares of AMETEK’s stock, acquiring an additional 3,909 shares within the quarter. The market value of these holdings is estimated to be $903,000.
This significant increase in investments reflects SeaCrest’s confidence in AMETEK’s performance and potential for growth in the technology sector. As one of the leading companies in this industry, AMETEK has consistently shown its ability to deliver positive results.
In fact, AMETEK recently released its quarterly earnings results on August 1st. The company reported earnings per share (EPS) of $1.57 for the quarter, surpassing the consensus estimate by $0.05. Additionally, their revenue reached $1.65 billion during this period, slightly exceeding the consensus estimate of $1.64 billion.
With a return on equity of 18.32% and a net margin of 19.23%, AMETEK continues to showcase its strong financial performance and profitability even amidst challenging economic conditions.
Furthermore, AMETEK witnessed a notable year-over-year increase in revenue by 8.7%. This compelling growth demonstrates the company’s ability to adapt and thrive within a competitive industry.
Considering these remarkable achievements, equities research analysts project that AMETEK will post earnings per share (EPS) of 6.25 for the current fiscal year.
AMETEK’s impressive financial track record and continuous dedication towards innovation have positioned it as one of the top players in technology markets worldwide.
For investors seeking opportunities in promising industries such as technology, keeping an eye on companies like AMETEK is essential. As demonstrated by SeaCrest Wealth Management LLC’s recent investment strategies, AMETEK’s strong performance in the market has generated interest and confidence among savvy investors.
In conclusion, AMETEK’s recent financial results and increased investments from prominent firms like SeaCrest Wealth Management LLC indicate a promising outlook for the company. With its proven ability to deliver strong financial performance and maintain profitability, AMETEK stands as a reliable contender in the technology sector.
Sources:
– Securities and Exchange Commission (Form 13F filing)
– AMETEK (NYSE:AME) Quarterly Earnings Report
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Hedge Funds Increase Holdings in AMETEK as Stock Shows Promising Growth
September 24, 2023
AMETEK Sees Increase in Hedge Fund Holdings
In recent months, various hedge funds have made adjustments to their holdings of AMETEK, a prominent technology company. Covestor Ltd, for instance, has significantly grown its position in AMETEK shares. During the first quarter of this year alone, Covestor Ltd augmented its stake in the company by an impressive 84.3%. This increase equates to an additional 97 shares, bringing Covestor Ltd’s total ownership to 212 shares worth $28,000 in value.
Similarly, Resurgent Financial Advisors LLC acquired a new position in AMETEK during the fourth quarter of last year. The purchase amounted to $28,000 worth of AMETEK shares. Grey Fox Wealth Advisors LLC also bought a new position in AMETEK last year at a valuation of $29,000. Furthermore, TFC Financial Management Inc. invested $33,000 in AMETEK shares during the first quarter of this year. Finally, Belpointe Asset Management LLC purchased shares worth $34,000 during the fourth quarter of last year.
Interestingly, as much as 85.70% of AMETEK’s stocks are presently owned by hedge funds and other institutional investors.
On Friday morning on the New York Stock Exchange (NYSE), AMETEK started trading at $151.66 per share. The company currently boasts a market capitalization of approximately $34.99 billion and operates with a price-to-earnings (P/E) ratio of 28.40%. Moreover, AMETEK has maintained an intriguing price-to-earnings-growth (PEG) ratio of 2.64 and demonstrates a beta value of 1.22.
When analyzing the financial standing and liquidity ratios of AMETEK, we find that it possesses a quick ratio of 1.34 and a current ratio of 2.16. Additionally, the company maintains a debt-to-equity ratio of 0.27. AMETEK has recorded a 52-week low of $110.87 and a 52-week high of $164.75. Currently, the stock reflects a fifty-day simple moving average of $156.66 and a 200-day simple moving average of $149.65.
Moreover, AMETEK recently announced that it will be distributing its quarterly dividend on Friday, September 29th. Investors holding shares as of Thursday, September 14th will be entitled to receive a dividend payment totaling $0.25 per share. This dividend represents an annualized payout of $1.00 per share and generates a yield of approximately 0.66%. The ex-dividend date for the upcoming distribution is Wednesday, September 13th.
Various research firms have expressed their opinions on AMETEK in recent weeks as well. Mizuho increased their price target from $161.00 to $166.00 and provided the company with a “buy” rating in their research report on August 2nd. DA Davidson also raised their target price from $177.00 to $180.00 in a report published on June 8th, while KeyCorp upped theirs from $165.00 to $176.00 and assigned an “overweight” rating to the stock on August 2nd.
Morgan Stanley was another research firm that adjusted their target price for AMETEK shares – raising it from $162.00 to $174.
