Bank of Montreal Can Has $55.35 Million Position in AMETEK, Inc. (NYSE:AME)

Bank of Montreal Can grew its stake in AMETEK, Inc. (NYSE:AME) by 4.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 321,680 shares of the technology company’s stock after purchasing an additional 14,663 shares during the period. Bank of Montreal Can’s holdings in AMETEK were worth $55,351,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Czech National Bank boosted its stake in shares of AMETEK by 8.6% in the 2nd quarter. Czech National Bank now owns 44,108 shares of the technology company’s stock valued at $7,353,000 after purchasing an additional 3,499 shares in the last quarter. CWM LLC boosted its stake in shares of AMETEK by 53.9% in the 2nd quarter. CWM LLC now owns 10,594 shares of the technology company’s stock valued at $1,766,000 after purchasing an additional 3,711 shares in the last quarter. Swedbank AB bought a new position in AMETEK in the 1st quarter valued at approximately $3,833,000. Cetera Investment Advisers raised its holdings in AMETEK by 573.2% in the 1st quarter. Cetera Investment Advisers now owns 59,754 shares of the technology company’s stock valued at $10,929,000 after buying an additional 50,878 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in AMETEK by 68.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 152,132 shares of the technology company’s stock valued at $25,362,000 after buying an additional 61,677 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares in the company, valued at $4,006,454.91. The trade was a 5.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tony J. Ciampitti sold 16,210 shares of AMETEK stock in a transaction 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 completion of the sale, the insider now directly owns 49,490 shares of the company’s stock, valued at approximately $9,750,024.90. The trade was a 24.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,660 shares of company stock worth $5,958,141 in the last quarter. 0.61% of the stock is owned by corporate insiders.

AMETEK Stock Down 1.0 %

AMETEK stock opened at $195.13 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week high of $198.33. The firm has a 50 day moving average price of $178.12 and a two-hundred day moving average price of $171.26. The firm has a market cap of $45.14 billion, a price-to-earnings ratio of 33.99, a PEG ratio of 3.22 and a beta of 1.16.

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

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.28 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.12 annualized dividend and a dividend yield of 0.57%. AMETEK’s dividend payout ratio is currently 19.51%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AME shares. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a report on Wednesday, September 18th. Truist Financial raised their price objective on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada dropped their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $199.29.

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.