Lazard Asset Management LLC increased its position in AMETEK, Inc. (NYSE:AME – Free Report) by 4.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,618,526 shares of the technology company’s stock after buying an additional 70,693 shares during the quarter. Lazard Asset Management LLC owned 0.71% of AMETEK worth $346,947,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of AMETEK in the 4th quarter worth approximately $831,372,000. Wellington Management Group LLP lifted its stake in AMETEK by 302.9% in the fourth quarter. Wellington Management Group LLP now owns 2,807,664 shares of the technology company’s stock worth $576,441,000 after acquiring an additional 2,110,818 shares during the period. Balyasny Asset Management L.P. lifted its stake in AMETEK by 539.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,070,555 shares of the technology company’s stock worth $219,796,000 after acquiring an additional 903,061 shares during the period. Man Group plc boosted its holdings in AMETEK by 411.8% in the third quarter. Man Group plc now owns 785,020 shares of the technology company’s stock valued at $147,584,000 after acquiring an additional 631,649 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its position in AMETEK by 151.0% during the 4th quarter. Westfield Capital Management Co. LP now owns 900,216 shares of the technology company’s stock valued at $184,823,000 after purchasing an additional 541,556 shares during the period. Hedge funds and other institutional investors own 87.43% of the company’s stock.
AMETEK Trading Up 0.1%
NYSE:AME opened at $242.10 on Monday. The firm has a market capitalization of $55.49 billion, a P/E ratio of 36.57, a PEG ratio of 3.39 and a beta of 0.99. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.14 and a quick ratio of 0.72. AMETEK, Inc. has a one year low of $175.61 and a one year high of $244.71. The company’s 50-day simple moving average is $231.91 and its 200 day simple moving average is $227.62.
AMETEK Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 15th. AMETEK’s payout ratio is 20.54%.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on AME. Wall Street Zen cut shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Morgan Stanley raised their price objective on shares of AMETEK from $235.00 to $245.00 and gave the stock an “equal weight” rating in a report on Friday, July 10th. Robert W. Baird set a $244.00 target price on AMETEK in a report on Friday, May 1st. Truist Financial increased their target price on AMETEK from $275.00 to $303.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Finally, Weiss Ratings upgraded AMETEK from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $256.29.
View Our Latest Stock Analysis on AMETEK
AMETEK Profile
AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.
The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.
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