Envestnet Portfolio Solutions Inc. Has $684,000 Stake in AMETEK, Inc. (NYSE:AME)

Envestnet Portfolio Solutions Inc. trimmed its position in AMETEK, Inc. (NYSE:AME - Free Report) by 59.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,971 shares of the technology company's stock after selling 5,809 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in AMETEK were worth $684,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AME. Norges Bank bought a new stake in shares of AMETEK in the 4th quarter worth about $697,080,000. Capital World Investors grew its holdings 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 worth $1,038,301,000 after purchasing an additional 2,371,062 shares during the last quarter. Lazard Asset Management LLC grew its holdings 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 worth $219,030,000 after purchasing an additional 968,661 shares during the last quarter. GAMMA Investing LLC grew its holdings 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 worth $167,540,000 after purchasing an additional 968,010 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings 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 worth $202,805,000 after purchasing an additional 794,473 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Price Performance

AME stock opened at $180.09 on Friday. The stock has a market capitalization of $41.58 billion, a PE ratio of 29.48, a price-to-earnings-growth ratio of 2.67 and a beta of 1.10. The company's 50-day moving average is $174.78 and its 200-day moving average is $177.32. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.41 and a quick ratio of 0.86. AMETEK, Inc. has a 1 year low of $145.02 and a 1 year high of $198.33.

AMETEK (NYSE:AME - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $1.74 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. The business's revenue was down .2% on a year-over-year basis. Equities research analysts expect that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Friday, June 13th. AMETEK's dividend payout ratio (DPR) is currently 20.29%.

Analysts Set New Price Targets

AME has been the topic of several research reports. Truist Financial upped their price target on shares of AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Mizuho set a $212.00 price target on shares of AMETEK in a research report on Friday, May 16th. Wall Street Zen upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Morgan Stanley initiated coverage on shares of AMETEK in a research report on Monday, April 14th. They set an "equal weight" rating and a $170.00 price target on the stock. Finally, Royal Bank Of Canada upped their target price on shares of AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $197.89.

AMETEK Company 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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