Alecta Tjanstepension Omsesidigt Has $452.22 Million Stock Position in AMETEK, Inc. (NYSE:AME)

Alecta Tjanstepension Omsesidigt reduced its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 1.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,628,265 shares of the technology company's stock after selling 50,200 shares during the quarter. AMETEK comprises 2.5% of Alecta Tjanstepension Omsesidigt's holdings, making the stock its 9th biggest position. Alecta Tjanstepension Omsesidigt owned 1.14% of AMETEK worth $452,219,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in AMETEK by 27.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,305,900 shares of the technology company's stock valued at $244,424,000 after purchasing an additional 282,176 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of AMETEK by 0.5% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 275,966 shares of the technology company's stock valued at $47,505,000 after purchasing an additional 1,403 shares in the last quarter. Hartford Funds Management Co LLC lifted its stake in shares of AMETEK by 19.8% in the first quarter. Hartford Funds Management Co LLC now owns 5,229 shares of the technology company's stock worth $900,000 after acquiring an additional 864 shares during the period. PFG Advisors increased its holdings in shares of AMETEK by 40.4% during the first quarter. PFG Advisors now owns 25,926 shares of the technology company's stock valued at $4,463,000 after acquiring an additional 7,457 shares in the last quarter. Finally, Crestwood Advisors Group LLC grew its holdings in AMETEK by 3.9% during the first quarter. Crestwood Advisors Group LLC now owns 8,421 shares of the technology company's stock worth $1,450,000 after buying an additional 315 shares in the last quarter. 87.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AME has been the topic of several research analyst reports. Melius cut AMETEK from a "buy" rating to a "hold" rating and set a $192.00 price objective on the stock. in a research note on Monday, July 14th. Morgan Stanley started coverage on shares of AMETEK in a research report on Monday, April 14th. They issued an "equal weight" rating and a $170.00 price target for the company. Robert W. Baird cut their target price on shares of AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Royal Bank Of Canada boosted their price target on shares of AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $197.30.

AMETEK Stock Performance

AME traded up $0.35 during trading on Tuesday, reaching $178.44. The company's stock had a trading volume of 266,960 shares, compared to its average volume of 1,307,487. AMETEK, Inc. has a 52-week low of $145.02 and a 52-week high of $198.33. The company has a market capitalization of $41.20 billion, a price-to-earnings ratio of 29.21, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. The company's fifty day moving average price is $179.43 and its 200-day moving average price is $176.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.41.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.69 by $0.06. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the business earned $1.64 earnings per share. AMETEK's revenue was down .2% compared to the same quarter last year. On average, equities analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Friday, June 13th. AMETEK's dividend payout ratio is currently 20.29%.

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.

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