BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $6.63 Million Position in AMETEK, Inc. (NYSE:AME)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its holdings in shares of AMETEK, Inc. (NYSE:AME) by 12.8% in the third quarter, Holdings Channel.com reports. The fund owned 38,625 shares of the technology company’s stock after selling 5,655 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in AMETEK were worth $6,632,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp grew its position in AMETEK by 34.6% in the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after acquiring an additional 926,657 shares during the period. Meridiem Investment Management Ltd. bought a new stake in shares of AMETEK in the 3rd quarter worth about $130,579,000. Principal Financial Group Inc. lifted its holdings in AMETEK by 72.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after purchasing an additional 703,501 shares during the last quarter. D1 Capital Partners L.P. acquired a new position in AMETEK in the third quarter valued at about $79,782,000. Finally, James Hambro & Partners LLP bought a new stake in AMETEK during the third quarter worth about $60,188,000. 87.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the transaction, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. The trade was a 5.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Emanuela Speranza sold 6,747 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the transaction, the insider now owns 30,460 shares of the company’s stock, valued at approximately $5,967,114. This represents a 18.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,660 shares of company stock valued at $5,958,141 over the last three months. Company insiders own 0.61% of the company’s stock.

AMETEK Price Performance

Shares of AME stock opened at $195.56 on Tuesday. The firm has a market cap of $45.23 billion, a price-to-earnings ratio of 34.07, a PEG ratio of 3.17 and a beta of 1.16. AMETEK, Inc. has a 12 month low of $149.03 and a 12 month high of $198.33. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $179.53 and a 200 day moving average price of $171.83.

AMETEK (NYSE:AME) last issued 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 net margin of 19.27% and a return on equity of 16.88%. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the company earned $1.64 EPS. AMETEK’s revenue was up 5.3% on a year-over-year basis. Research analysts expect that AMETEK, Inc. will post 6.8 EPS for the current year.

AMETEK Announces Dividend

The business also recently declared 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. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, December 6th. AMETEK’s dividend payout ratio (DPR) is currently 19.51%.

Analyst Ratings Changes

AME has been the topic of several recent analyst reports. Truist Financial boosted 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. TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Robert W. Baird raised their target price on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. KeyCorp lifted their price target on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.