Investment Management Corp of Ontario Acquires 2,400 Shares of AMETEK, Inc. (NYSE:AME)

Investment Management Corp of Ontario increased its position in AMETEK, Inc. (NYSE:AME) by 45.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,626 shares of the technology company’s stock after purchasing an additional 2,400 shares during the period. Investment Management Corp of Ontario’s holdings in AMETEK were worth $1,309,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Itau Unibanco Holding S.A. lifted its stake in AMETEK by 62.6% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock valued at $34,000 after acquiring an additional 77 shares during the period. Family Firm Inc. purchased a new position in shares of AMETEK during the 2nd quarter valued at about $39,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of AMETEK during the 2nd quarter valued at $42,000. Princeton Global Asset Management LLC purchased a new position in shares of AMETEK in the third quarter valued at about $44,000. Finally, Crewe Advisors LLC boosted its stake in AMETEK by 168.8% in the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock worth $49,000 after purchasing an additional 184 shares during the period. Institutional investors own 87.43% of the company’s stock.

AMETEK Trading Down 0.6 %

AME opened at $193.85 on Friday. The business has a fifty day moving average price of $180.92 and a 200 day moving average price of $172.33. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The stock has a market capitalization of $44.84 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 3.17 and a beta of 1.15. AMETEK, Inc. has a 12 month low of $149.03 and a 12 month high of $198.33.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the company posted $1.64 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. Sell-side analysts expect that AMETEK, Inc. will post 6.8 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Friday, December 6th. AMETEK’s payout ratio is currently 19.51%.

Insider Buying and Selling

In other AMETEK news, insider Tony J. Ciampitti sold 16,210 shares of AMETEK stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the transaction, the insider now directly owns 49,490 shares of the company’s stock, valued at $9,750,024.90. The trade was a 24.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Emanuela Speranza sold 6,747 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the completion of the transaction, the insider now owns 30,460 shares in the company, valued at $5,967,114. This represents a 18.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,660 shares of company stock worth $5,958,141. 0.61% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on AME. Robert W. Baird lifted their price objective on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a report on Wednesday, September 18th. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a research report on Wednesday. Truist Financial upped their target price on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $199.29.

AMETEK 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.