Envestnet Asset Management Inc. Has $57.73 Million Stock Position in AMETEK, Inc. (NYSE:AME)

Envestnet Asset Management Inc. increased its holdings in shares of AMETEK, Inc. (NYSE:AME) by 4.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 346,275 shares of the technology company’s stock after purchasing an additional 15,276 shares during the period. Envestnet Asset Management Inc. owned approximately 0.15% of AMETEK worth $57,727,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in AMETEK by 11.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,669,394 shares of the technology company’s stock worth $275,266,000 after acquiring an additional 167,602 shares in the last quarter. Cim LLC bought a new position in AMETEK in the fourth quarter worth approximately $1,254,000. Nomura Holdings Inc. bought a new position in AMETEK in the fourth quarter worth approximately $768,000. Duality Advisers LP bought a new position in AMETEK in the first quarter worth approximately $1,676,000. Finally, Czech National Bank boosted its holdings in AMETEK by 8.6% in the second quarter. Czech National Bank now owns 44,108 shares of the technology company’s stock worth $7,353,000 after acquiring an additional 3,499 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Stock Performance

Shares of AME opened at $169.43 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $39.22 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 2.71 and a beta of 1.17. The stock has a 50 day moving average of $166.48 and a 200 day moving average of $171.45. AMETEK, Inc. has a 12 month low of $136.89 and a 12 month high of $186.32.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. AMETEK’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the business posted $1.57 earnings per share. As a group, sell-side analysts forecast that AMETEK, Inc. will post 6.77 earnings per share for the current year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Monday, September 16th. AMETEK’s payout ratio is 19.68%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AME. TD Cowen cut their price target on AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a report on Monday, August 5th. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Robert W. Baird dropped their target price on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada dropped their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AMETEK has an average rating of “Moderate Buy” and a consensus target price of $186.29.

AMETEK 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.