Envestnet Asset Management Inc. Has $48.11 Million Stake in AMETEK, Inc. (NYSE:AME)

Envestnet Asset Management Inc. boosted its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 279,473 shares of the technology company's stock after acquiring an additional 6,658 shares during the period. Envestnet Asset Management Inc. owned approximately 0.12% of AMETEK worth $48,108,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AME. Norges Bank bought a new stake in shares of AMETEK in the 4th quarter valued at approximately $697,080,000. Capital World Investors grew its stake in shares of AMETEK by 70.0% in the 4th quarter. Capital World Investors now owns 5,760,017 shares of the technology company's stock valued at $1,038,301,000 after purchasing an additional 2,371,062 shares during the period. Lazard Asset Management LLC grew its stake in shares of AMETEK by 393.1% in the 4th quarter. Lazard Asset Management LLC now owns 1,215,087 shares of the technology company's stock valued at $219,030,000 after purchasing an additional 968,661 shares during the period. GAMMA Investing LLC grew its stake in shares of AMETEK by 18,368.3% in the 1st quarter. GAMMA Investing LLC now owns 973,280 shares of the technology company's stock valued at $167,540,000 after purchasing an additional 968,010 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of AMETEK by 240.3% in the 4th quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company's stock valued at $202,805,000 after purchasing an additional 794,473 shares during the period. 87.43% of the stock is currently owned by institutional investors.

AMETEK Trading Down 0.2%

AMETEK stock traded down $0.45 during mid-day trading on Friday, hitting $180.99. The stock had a trading volume of 839,398 shares, compared to its average volume of 1,305,164. The stock has a 50-day simple moving average of $178.66 and a two-hundred day simple moving average of $177.00. The stock has a market capitalization of $41.79 billion, a PE ratio of 29.62, a P/E/G ratio of 2.71 and a beta of 1.09. AMETEK, Inc. has a 12 month low of $145.02 and a 12 month high of $198.33. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15.

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

AMETEK Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Friday, June 13th. AMETEK's payout ratio is 20.29%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AME. Royal Bank Of Canada upped their price objective on AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Morgan Stanley assumed coverage on AMETEK in a report on Monday, April 14th. They issued an "equal weight" rating and a $170.00 target price on the stock. Truist Financial boosted their target price on AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Mizuho set a $212.00 target price on AMETEK in a report on Friday, May 16th. Finally, Wall Street Zen raised AMETEK from a "hold" rating to a "buy" rating in a report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $197.89.

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.