Mitsubishi UFJ Asset Management Co. Ltd. Raises Stake in AMETEK, Inc. (NYSE:AME)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in AMETEK, Inc. by 14.3%, acquiring an additional 51,746 shares, bringing their total ownership to 412,803 shares valued at approximately $71 million.
• AMETEK reported earnings of $1.78 per share, exceeding analysts' expectations of $1.69, with revenue of $1.78 billion for the quarter.
• The company has announced a quarterly dividend of $0.31 per share, with a dividend yield of 0.7%, and has a consensus target price of $208.00 from analysts.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 14.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 412,803 shares of the technology company's stock after acquiring an additional 51,746 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of AMETEK worth $71,060,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AME. Capital World Investors increased 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 worth $1,038,301,000 after acquiring an additional 2,371,062 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of AMETEK by 393.1% during the fourth 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 in the last quarter. GAMMA Investing LLC lifted its holdings in shares of AMETEK by 18,368.3% during the first 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 last quarter. Compagnie Lombard Odier SCmA bought a new stake in shares of AMETEK in the 1st quarter worth approximately $113,317,000. Finally, Alteri Wealth LLC purchased a new stake in shares of AMETEK in the 4th quarter worth approximately $114,769,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

AMETEK Trading Down 0.2%

Shares of AME stock traded down $0.30 on Friday, reaching $181.94. 814,828 shares of the company's stock were exchanged, compared to its average volume of 1,529,392. The company's fifty day simple moving average is $179.90 and its 200 day simple moving average is $176.91. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week high of $198.33. The company has a current ratio of 1.63, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $42.02 billion, a PE ratio of 29.30, a P/E/G ratio of 2.63 and a beta of 1.10.

AMETEK (NYSE:AME - Get Free Report) last issued its earnings results on Thursday, July 31st. The technology company reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.69 by $0.09. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a net margin of 20.60% and a return on equity of 16.53%. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.66 EPS. As a group, analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 0.7%. AMETEK's dividend payout ratio (DPR) is 19.97%.

Analysts Set New Price Targets

Several equities research analysts have commented on AME shares. Morgan Stanley boosted their target price on AMETEK from $185.00 to $198.00 and gave the stock an "equal weight" rating in a report on Friday. Robert W. Baird raised their price target on shares of AMETEK from $190.00 to $198.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Truist Financial upped their price objective on AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Royal Bank Of Canada lifted their target price on AMETEK from $209.00 to $212.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Finally, Melius cut AMETEK from a "buy" rating to a "hold" rating and set a $192.00 price target for the company. in a research note on Monday, July 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $208.00.

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.