Envestnet Portfolio Solutions Inc. Has $1.76 Million Holdings in AMETEK, Inc. (NYSE:AME)

Envestnet Portfolio Solutions Inc. lessened its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 26.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,780 shares of the technology company's stock after selling 3,534 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in AMETEK were worth $1,763,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. EdgePoint Investment Group Inc. lifted its position in shares of AMETEK by 87.9% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company's stock worth $337,279,000 after buying an additional 918,737 shares during the period. Principal Financial Group Inc. boosted its stake in shares of AMETEK by 72.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company's stock valued at $288,526,000 after purchasing an additional 703,501 shares in the last quarter. Bryn Mawr Capital Management LLC grew its holdings in shares of AMETEK by 10,506.5% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 476,442 shares of the technology company's stock worth $812,000 after purchasing an additional 471,950 shares during the last quarter. D1 Capital Partners L.P. acquired a new stake in shares of AMETEK during the 3rd quarter worth about $79,782,000. Finally, Assenagon Asset Management S.A. lifted its holdings in AMETEK by 434.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company's stock valued at $97,614,000 after purchasing an additional 440,197 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Robert W. Baird dropped their price objective on shares of AMETEK from $200.00 to $197.00 and set a "neutral" rating for the company in a report on Wednesday, February 5th. Bank of America raised AMETEK from a "neutral" rating to a "buy" rating and raised their price target for the company from $195.00 to $225.00 in a report on Monday, December 16th. StockNews.com upgraded AMETEK from a "hold" rating to a "buy" rating in a report on Sunday, March 9th. BNP Paribas raised AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price target for the company in a report on Thursday, January 16th. Finally, Truist Financial upped their price target on shares of AMETEK from $221.00 to $222.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AMETEK currently has a consensus rating of "Moderate Buy" and a consensus target price of $204.67.

AMETEK Trading Down 1.6 %

NYSE AME traded down $2.80 during trading hours on Wednesday, hitting $176.90. The company's stock had a trading volume of 933,795 shares, compared to its average volume of 1,164,090. The stock has a fifty day moving average of $182.98 and a 200 day moving average of $180.83. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33. The firm has a market capitalization of $40.82 billion, a P/E ratio of 29.83, a PEG ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.02. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The business had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.82 billion. During the same period in the previous year, the firm earned $1.68 earnings per share. The firm's quarterly revenue was up 1.8% compared to the same quarter last year. Equities research analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a yield of 0.70%. This is a boost from AMETEK's previous quarterly dividend of $0.28. AMETEK's payout ratio is currently 20.91%.

AMETEK announced that its Board of Directors has initiated a stock repurchase program on Friday, February 7th that allows the company to repurchase $1.25 billion in shares. This repurchase authorization allows the technology company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,320 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $189.41, for a total value of $250,021.20. Following the completion of the transaction, the director now owns 22,029 shares of the company's stock, valued at $4,172,512.89. The trade was a 5.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.61% of the company's stock.

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.