CANADA LIFE ASSURANCE Co Boosts Position in AMETEK, Inc. (NYSE:AME)

CANADA LIFE ASSURANCE Co boosted its stake in AMETEK, Inc. (NYSE:AME) by 9.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,853 shares of the technology company’s stock after acquiring an additional 11,327 shares during the period. CANADA LIFE ASSURANCE Co owned 0.06% of AMETEK worth $24,301,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AME. Benjamin F. Edwards & Company Inc. lifted its stake in shares of AMETEK by 6.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,040 shares of the technology company’s stock valued at $191,000 after purchasing an additional 64 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in AMETEK by 1.9% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,477 shares of the technology company’s stock worth $636,000 after acquiring an additional 64 shares in the last quarter. M&T Bank Corp lifted its holdings in shares of AMETEK by 0.5% during the fourth quarter. M&T Bank Corp now owns 15,442 shares of the technology company’s stock valued at $2,547,000 after purchasing an additional 73 shares during the last quarter. Avantax Advisory Services Inc. increased its position in AMETEK by 4.4% during the 1st quarter. Avantax Advisory Services Inc. now owns 1,723 shares of the technology company’s stock valued at $315,000 after buying an additional 73 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. increased its holdings in shares of AMETEK by 9.3% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 872 shares of the technology company’s stock valued at $159,000 after acquiring an additional 74 shares in the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Steven W. Kohlhagen sold 1,470 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total value of $250,194.00. Following the completion of the transaction, the director now directly owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total value of $250,459.20. Following the completion of the transaction, the director now owns 24,809 shares in the company, valued at approximately $4,315,029.37. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven W. Kohlhagen sold 1,470 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total value of $250,194.00. Following the sale, the director now owns 26,249 shares in the company, valued at approximately $4,467,579.80. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AME. Oppenheimer raised shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price target for the company in a research report on Wednesday, May 22nd. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Robert W. Baird lowered their price target on AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Finally, Truist Financial lowered their price objective on shares of AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, AMETEK has an average rating of “Moderate Buy” and an average target price of $181.20.

AMETEK Trading Up 0.9 %

AME stock opened at $168.52 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32. The business has a 50 day simple moving average of $169.35 and a two-hundred day simple moving average of $172.35. The company has a market capitalization of $39.01 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 2.68 and a beta of 1.18.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. AMETEK’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.49 earnings per share. Research analysts anticipate that AMETEK, Inc. will post 6.81 EPS for the current fiscal year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date was Friday, June 14th. AMETEK’s dividend payout ratio is presently 19.68%.

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.