AMETEK, Inc. (NYSE:AME) Shares Purchased by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec increased its stake in AMETEK, Inc. (NYSE:AME) by 81.5% in the fourth quarter, Holdings Channel reports. The firm owned 158,185 shares of the technology company’s stock after purchasing an additional 71,007 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in AMETEK were worth $28,514,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Versant Capital Management Inc increased its stake in shares of AMETEK by 3,116.7% in the fourth quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock worth $35,000 after acquiring an additional 187 shares during the period. AdvisorNet Financial Inc lifted its holdings in AMETEK by 1,176.5% in the fourth quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock valued at $39,000 after acquiring an additional 200 shares during the period. Geneos Wealth Management Inc. boosted its position in AMETEK by 42.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock worth $42,000 after purchasing an additional 70 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of AMETEK during the 4th quarter worth approximately $43,000. Finally, Anchor Investment Management LLC lifted its stake in shares of AMETEK by 366.1% in the 3rd quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock valued at $45,000 after purchasing an additional 205 shares during the period. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Thomas A. Amato sold 710 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $176.64, for a total value of $125,414.40. Following the completion of the sale, the director now owns 10,560 shares of the company’s stock, valued at approximately $1,865,318.40. This represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Steven W. Kohlhagen sold 1,320 shares of AMETEK stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $189.41, for a total transaction of $250,021.20. Following the transaction, the director now directly owns 22,029 shares in the company, valued at $4,172,512.89. This trade represents a 5.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on AME shares. Robert W. Baird dropped their price target on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. BNP Paribas raised AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target for the company in a report on Thursday, January 16th. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a report on Friday, April 11th. Royal Bank of Canada upped their target price on AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Truist Financial dropped their price target on shares of AMETEK from $216.00 to $196.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AMETEK presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.20.

AMETEK Stock Up 1.7 %

NYSE AME opened at $170.15 on Friday. The business has a fifty day moving average price of $170.16 and a 200 day moving average price of $179.35. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24. The company has a market cap of $39.26 billion, a P/E ratio of 28.69, a P/E/G ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a one year low of $145.02 and a one year high of $198.33.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.06. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The company’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.64 earnings per share. Research analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK announced that its board has approved a share buyback plan on Friday, February 7th that allows the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization allows the technology company to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

AMETEK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.31 per share. This is a boost from AMETEK’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Friday, March 14th. AMETEK’s payout ratio is currently 20.91%.

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.