CIBC Asset Management Inc Has $8.66 Million Stock Position in AMETEK, Inc. (NYSE:AME)

CIBC Asset Management Inc grew its position in AMETEK, Inc. (NYSE:AME) by 1.0% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 59,605 shares of the technology company’s stock after acquiring an additional 576 shares during the period. CIBC Asset Management Inc’s holdings in AMETEK were worth $8,662,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Marvin & Palmer Associates Inc. acquired a new position in AMETEK in the 1st quarter worth $8,243,000. Franklin Resources Inc. boosted its stake in AMETEK by 4.9% in the 1st quarter. Franklin Resources Inc. now owns 1,403,313 shares of the technology company’s stock worth $203,943,000 after purchasing an additional 65,519 shares during the period. Norinchukin Bank The boosted its stake in AMETEK by 3.1% in the 1st quarter. Norinchukin Bank The now owns 14,797 shares of the technology company’s stock worth $2,150,000 after purchasing an additional 449 shares during the period. Elo Mutual Pension Insurance Co boosted its stake in AMETEK by 3.2% in the 1st quarter. Elo Mutual Pension Insurance Co now owns 18,338 shares of the technology company’s stock worth $2,665,000 after purchasing an additional 566 shares during the period. Finally, Sei Investments Co. boosted its stake in AMETEK by 10.3% in the 1st quarter. Sei Investments Co. now owns 154,628 shares of the technology company’s stock worth $22,473,000 after purchasing an additional 14,403 shares during the period. 85.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other AMETEK news, Director Steven W. Kohlhagen sold 1,565 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $160.37, for a total value of $250,979.05. Following the transaction, the director now directly owns 31,909 shares of the company’s stock, valued at approximately $5,117,246.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other AMETEK news, CFO William Joseph Burke sold 33,930 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $160.29, for a total value of $5,438,639.70. Following the transaction, the chief financial officer now directly owns 101,937 shares of the company’s stock, valued at approximately $16,339,481.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,565 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $160.37, for a total transaction of $250,979.05. Following the completion of the transaction, the director now directly owns 31,909 shares in the company, valued at $5,117,246.33. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of AMETEK from $180.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. KeyCorp boosted their price target on shares of AMETEK from $165.00 to $176.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 2nd. Seaport Res Ptn reissued a “buy” rating on shares of AMETEK in a research report on Monday, August 7th. Mizuho boosted their price target on shares of AMETEK from $161.00 to $166.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, Royal Bank of Canada boosted their price target on shares of AMETEK from $174.00 to $182.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $175.29.

AMETEK Stock Down 0.0 %

Shares of AME stock opened at $157.10 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.34 and a current ratio of 2.16. The firm’s 50-day moving average is $158.11 and its 200-day moving average is $148.87. The stock has a market cap of $36.24 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 2.74 and a beta of 1.22. AMETEK, Inc. has a 52-week low of $110.87 and a 52-week high of $164.75.

AMETEK (NYSE:AME) last issued its earnings results on Tuesday, August 1st. The technology company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.05. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. AMETEK had a net margin of 19.23% and a return on equity of 18.32%. AMETEK’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.38 EPS. Sell-side analysts predict that AMETEK, Inc. will post 6.25 EPS for the current year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, September 14th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, September 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.64%. AMETEK’s payout ratio is 18.73%.

AMETEK Company Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in North America, Europe, Asia, and South America. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.Its EMG segment offers engineered electrical connectors and electronics packaging to protect sensitive devices and mission-critical electronics; precision motion control products for data storage, medical devices, business equipment, automation, and other applications; high-purity powdered metals, strips and foils, specialty clad metals, and metal matrix composites; motor-blower systems and heat exchangers for use in thermal management, military, commercial aircraft, and military ground vehicles; and motors for use in commercial appliances, fitness equipment, food and beverage machines, hydraulic pumps, and industrial blowers.