Envestnet Asset Management Inc. Purchases 8,723 Shares of AMETEK, Inc. (NYSE:AME)

Envestnet Asset Management Inc. boosted its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 4.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 201,598 shares of the technology company's stock after acquiring an additional 8,723 shares during the quarter. Envestnet Asset Management Inc. owned 0.09% of AMETEK worth $29,298,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in AMETEK by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 24,608,566 shares of the technology company's stock valued at $3,277,369,000 after acquiring an additional 463,926 shares during the period. Alliancebernstein L.P. lifted its position in AMETEK by 1.2% during the fourth quarter. Alliancebernstein L.P. now owns 4,797,914 shares of the technology company's stock worth $670,365,000 after acquiring an additional 56,447 shares during the last quarter. Geode Capital Management LLC lifted its position in AMETEK by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 4,627,897 shares of the technology company's stock worth $645,419,000 after acquiring an additional 111,754 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in AMETEK by 643.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,953,131 shares of the technology company's stock worth $552,332,000 after acquiring an additional 3,421,558 shares during the last quarter. Finally, Morgan Stanley lifted its position in AMETEK by 93.2% during the fourth quarter. Morgan Stanley now owns 3,678,094 shares of the technology company's stock worth $513,903,000 after acquiring an additional 1,774,651 shares during the last quarter. 85.70% of the stock is owned by institutional investors.

AME has been the subject of several research reports. StockNews.com initiated coverage on shares of AMETEK in a research report on Thursday, August 17th. They set a "buy" rating for the company. KeyCorp raised their price objective on shares of AMETEK from $165.00 to $176.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 2nd. Royal Bank of Canada lifted their price target on shares of AMETEK from $174.00 to $182.00 and gave the company an "outperform" rating in a research report on Wednesday, August 2nd. Mizuho lifted their price target on shares of AMETEK from $161.00 to $166.00 and gave the company a "buy" rating in a research report on Wednesday, August 2nd. Finally, Seaport Res Ptn reiterated a "buy" rating on shares of AMETEK in a research report on Monday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $175.29.

Get Our Latest Stock Analysis on AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,565 shares of the business's stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $160.37, for a total transaction of $250,979.05. Following the sale, the director now owns 31,909 shares of the company's stock, valued at $5,117,246.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.72% of the company's stock.

Shares of NYSE:AME opened at $160.30 on Thursday. The company's 50 day simple moving average is $157.96 and its 200 day simple moving average is $148.40. The stock has a market capitalization of $36.95 billion, a price-to-earnings ratio of 30.02, a price-to-earnings-growth ratio of 2.77 and a beta of 1.21. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.16 and a quick ratio of 1.34. AMETEK, Inc. has a 1 year low of $110.87 and a 1 year high of $164.75.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings data on Tuesday, August 1st. The technology company reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.52 by $0.05. The business had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.64 billion. AMETEK had a net margin of 19.23% and a return on equity of 18.32%. The firm's quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $1.38 earnings per share. As a group, research analysts predict that AMETEK, Inc. will post 6.25 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 14th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, September 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.62%. AMETEK's payout ratio is presently 18.73%.

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in North America, Europe, Asia, and South America. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.Its EMG segment offers engineered electrical connectors and electronics packaging to protect sensitive devices and mission-critical electronics; precision motion control products for data storage, medical devices, business equipment, automation, and other applications; high-purity powdered metals, strips and foils, specialty clad metals, and metal matrix composites; motor-blower systems and heat exchangers for use in thermal management, military, commercial aircraft, and military ground vehicles; and motors for use in commercial appliances, fitness equipment, food and beverage machines, hydraulic pumps, and industrial blowers.

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