Sumitomo Mitsui Trust Group Inc. Acquires 6,753 Shares of AMETEK, Inc. (NYSE:AME)

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 1.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 519,797 shares of the technology company's stock after purchasing an additional 6,753 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of AMETEK worth $89,478,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AME. Mirae Asset Global Investments Co. Ltd. lifted its holdings in AMETEK by 14.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,878 shares of the technology company's stock worth $3,898,000 after buying an additional 2,965 shares during the period. Board of the Pension Protection Fund lifted its stake in AMETEK by 60.0% in the first quarter. Board of the Pension Protection Fund now owns 4,800 shares of the technology company's stock worth $826,000 after acquiring an additional 1,800 shares during the period. First Merchants Corp boosted its holdings in AMETEK by 3.4% in the first quarter. First Merchants Corp now owns 28,793 shares of the technology company's stock valued at $4,956,000 after acquiring an additional 945 shares in the last quarter. PDS Planning Inc increased its position in AMETEK by 15.7% during the 1st quarter. PDS Planning Inc now owns 1,537 shares of the technology company's stock valued at $265,000 after purchasing an additional 209 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its holdings in AMETEK by 12.5% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 38,618 shares of the technology company's stock worth $6,648,000 after purchasing an additional 4,281 shares in the last quarter. 87.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on AME. Robert W. Baird cut their price objective on AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Royal Bank Of Canada raised their price objective on shares of AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Morgan Stanley started coverage on AMETEK in a report on Monday, April 14th. They issued an "equal weight" rating and a $170.00 target price for the company. Mizuho set a $212.00 price objective on shares of AMETEK in a report on Friday, May 16th. Finally, Truist Financial increased their price target on AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $197.89.

AMETEK Stock Performance

Shares of AME stock traded up $2.20 during trading hours on Thursday, reaching $184.19. 719,336 shares of the company traded hands, compared to its average volume of 1,298,711. AMETEK, Inc. has a 12-month low of $145.02 and a 12-month high of $198.33. The company has a market cap of $42.53 billion, a P/E ratio of 30.15, a P/E/G ratio of 2.74 and a beta of 1.09. The firm has a 50-day moving average price of $176.62 and a 200 day moving average price of $177.13. 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 (NYSE:AME - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the firm earned $1.64 EPS. The company's revenue was down .2% on a year-over-year basis. As a group, sell-side analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The firm 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. The ex-dividend date was Friday, June 13th. This represents a $1.24 annualized dividend and a yield of 0.67%. AMETEK's payout ratio is 20.29%.

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.