JARISLOWSKY FRASER Ltd Lowers Position in AMETEK, Inc. (NYSE:AME)

JARISLOWSKY FRASER Ltd lessened its position in AMETEK, Inc. (NYSE:AMEFree Report) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 666,750 shares of the technology company’s stock after selling 12,501 shares during the quarter. JARISLOWSKY FRASER Ltd owned approximately 0.29% of AMETEK worth $109,940,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Morgan Stanley raised its stake in AMETEK by 19.2% during the third quarter. Morgan Stanley now owns 4,189,108 shares of the technology company’s stock valued at $618,983,000 after buying an additional 674,549 shares during the last quarter. Norges Bank purchased a new stake in AMETEK in the fourth quarter worth about $589,098,000. Flossbach Von Storch AG grew its position in shares of AMETEK by 10.8% during the fourth quarter. Flossbach Von Storch AG now owns 2,586,030 shares of the technology company’s stock worth $426,410,000 after purchasing an additional 252,455 shares in the last quarter. Northern Trust Corp grew its position in shares of AMETEK by 4.3% during the third quarter. Northern Trust Corp now owns 2,362,467 shares of the technology company’s stock worth $349,078,000 after purchasing an additional 96,793 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of AMETEK by 17.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,701,558 shares of the technology company’s stock worth $280,573,000 after purchasing an additional 255,193 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,470 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following the completion of the sale, the director now directly owns 26,249 shares of the company’s stock, valued at approximately $4,467,579.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Steven W. Kohlhagen sold 1,400 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $180.59, for a total transaction of $252,826.00. Following the completion of the transaction, the director now directly owns 28,054 shares of the company’s stock, valued at $5,066,271.86. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven W. Kohlhagen sold 1,470 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the transaction, the director now directly owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The disclosure for this sale can be found here. Insiders have sold a total of 37,941 shares of company stock worth $6,992,804 in the last quarter. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AME shares. Oppenheimer raised AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price target for the company in a research note on Wednesday, May 22nd. Royal Bank of Canada cut their price target on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Robert W. Baird lowered their price objective on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Truist Financial assumed coverage on shares of AMETEK in a research note on Thursday, March 14th. They issued a “buy” rating and a $210.00 price objective for the company. Finally, StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, AMETEK has a consensus rating of “Moderate Buy” and an average target price of $181.64.

Get Our Latest Research Report on AMETEK

AMETEK Price Performance

AME stock traded up $0.94 during midday trading on Monday, reaching $173.66. The stock had a trading volume of 1,030,600 shares, compared to its average volume of 1,008,706. The company’s fifty day simple moving average is $176.46 and its 200 day simple moving average is $169.24. The company has a current ratio of 1.11, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. The company has a market cap of $40.20 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 2.78 and a beta of 1.21. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32.

AMETEK (NYSE:AMEGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.49 EPS. As a group, sell-side analysts predict that AMETEK, Inc. will post 6.83 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, June 14th. This represents a $1.12 annualized dividend and a dividend yield of 0.64%. AMETEK’s dividend payout ratio is presently 19.68%.

AMETEK Company Profile

(Free Report)

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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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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