Sumitomo Mitsui Trust Group Inc. Has $89.48 Million Holdings in AMETEK, Inc. (NYSE:AME)

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

A number of other institutional investors have also recently bought and sold shares of AME. Norges Bank acquired a new stake in AMETEK during the 4th quarter worth about $697,080,000. Capital World Investors raised its stake in shares of AMETEK by 70.0% during 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 in the last quarter. Lazard Asset Management LLC raised its stake in shares of AMETEK by 393.1% during 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 in the last quarter. GAMMA Investing LLC raised its stake in shares of AMETEK by 18,368.3% during 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 in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of AMETEK by 240.3% during 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 in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AME. Royal Bank Of Canada raised their price target on AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Mizuho set a $212.00 price objective on AMETEK in a research note on Friday, May 16th. Truist Financial raised their price objective on AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, May 5th. 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 note on Wednesday, May 7th. Finally, Morgan Stanley started coverage on AMETEK in a research note on Monday, April 14th. They issued an "equal weight" rating and a $170.00 price objective on the stock. 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $197.89.

AMETEK Stock Performance

Shares of NYSE AME opened at $180.48 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.15. The business's 50 day moving average is $175.24 and its two-hundred day moving average is $177.10. The company has a market cap of $41.67 billion, a P/E ratio of 29.54, a P/E/G ratio of 2.71 and a beta of 1.10. AMETEK, Inc. has a 12 month low of $145.02 and a 12 month high of $198.33.

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

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued 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 of this dividend is Friday, June 13th. AMETEK's payout ratio is presently 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.

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