TD Waterhouse Canada Inc. lifted its position in AMETEK, Inc. (NYSE:AME – Free Report) by 42.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,773 shares of the technology company’s stock after acquiring an additional 3,232 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in AMETEK were worth $2,556,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in AME. BlackRock Inc. purchased a new position in shares of AMETEK in the 2nd quarter worth approximately $4,725,928,000. Norges Bank purchased a new position in shares of AMETEK in the 4th quarter worth about $831,372,000. Flossbach Von Storch SE bought a new stake in AMETEK in the second quarter worth about $662,352,000. Bank of New York Mellon Corp bought a new position in AMETEK during the second quarter valued at $624,725,000. Finally, Wellington Management Group LLP grew its stake in shares of AMETEK by 302.9% during the 4th quarter. Wellington Management Group LLP now owns 2,807,664 shares of the technology company’s stock worth $576,441,000 after acquiring an additional 2,110,818 shares during the period. 87.43% of the stock is owned by institutional investors.
AMETEK Stock Performance
Shares of AME opened at $237.80 on Tuesday. AMETEK, Inc. has a 12-month low of $179.24 and a 12-month high of $261.16. The company has a current ratio of 1.21, a quick ratio of 0.76 and a debt-to-equity ratio of 0.09. The company has a market cap of $54.50 billion, a PE ratio of 34.77, a price-to-earnings-growth ratio of 3.04 and a beta of 0.99. The stock has a 50-day moving average price of $241.37 and a 200-day moving average price of $232.55.
AMETEK Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.34 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.6%. AMETEK’s dividend payout ratio (DPR) is presently 19.88%.
Analyst Upgrades and Downgrades
AME has been the subject of a number of research reports. Morgan Stanley increased their target price on shares of AMETEK from $235.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Friday, July 10th. Citigroup lifted their price objective on shares of AMETEK from $257.00 to $261.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Seaport Research Partners reaffirmed a “buy” rating and issued a $290.00 price target on shares of AMETEK in a report on Wednesday, August 5th. Royal Bank Of Canada lifted their price target on AMETEK from $260.00 to $291.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Finally, Truist Financial lifted their target price on AMETEK from $303.00 to $316.00 and gave the company a “buy” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and a consensus target price of $266.80.
Read Our Latest Analysis on AME
Insider Activity
In other news, insider David Hermance sold 6,608 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $254.00, for a total transaction of $1,678,432.00. Following the transaction, the insider directly owned 42,509 shares in the company, valued at approximately $10,797,286. This represents a 13.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.54% of the company’s stock.
About AMETEK
AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.
The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.
Recommended Stories
- Five stocks we like better than AMETEK
- 3 Under-the-Radar Defense Stocks With Record Backlogs
- This Korea ETF Has Soared, But the Rally May Not Be Over
- Why Guidewire’s Post-Earnings Plunge May Not Last
- Ride-Share Reckoning: Tesla Drives Into Uber’s Lane
Want to see what other hedge funds are holding AME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AMETEK, Inc. (NYSE:AME – Free Report).
Receive News & Ratings for AMETEK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMETEK and related companies with MarketBeat.com's FREE daily email newsletter.
