Power Corp of Canada Grows Holdings in AMETEK, Inc. (NYSE:AME)

Power Corp of Canada grew its stake in AMETEK, Inc. (NYSE:AME) by 100.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 8,292 shares of the technology company’s stock after acquiring an additional 4,146 shares during the period. Power Corp of Canada’s holdings in AMETEK were worth $1,155,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AME. Norges Bank purchased a new stake in shares of AMETEK in the 4th quarter valued at approximately $509,944,000. Price T Rowe Associates Inc. MD increased its stake in AMETEK by 643.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,953,131 shares of the technology company’s stock worth $552,332,000 after buying an additional 3,421,558 shares during the period. FMR LLC increased its stake in AMETEK by 34.9% during the 1st quarter. FMR LLC now owns 10,042,152 shares of the technology company’s stock worth $1,459,426,000 after buying an additional 2,597,135 shares during the period. Moneta Group Investment Advisors LLC increased its stake in AMETEK by 39,681.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,827,569 shares of the technology company’s stock worth $255,348,000 after buying an additional 1,822,975 shares during the period. Finally, Morgan Stanley increased its stake in AMETEK by 93.2% during the 4th quarter. Morgan Stanley now owns 3,678,094 shares of the technology company’s stock worth $513,903,000 after buying an additional 1,774,651 shares during the period. 85.70% of the stock is owned by hedge funds and other institutional investors.

AMETEK Trading Down 1.1 %

Shares of AMETEK stock opened at $151.69 on Wednesday. The company has a fifty day simple moving average of $157.55 and a 200-day simple moving average of $149.21. AMETEK, Inc. has a 12-month low of $110.87 and a 12-month high of $164.75. The company has a current ratio of 2.16, a quick ratio of 1.34 and a debt-to-equity ratio of 0.27. The stock has a market cap of $35.00 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 2.74 and a beta of 1.22.

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 the consensus estimate of $1.52 by $0.05. AMETEK had a net margin of 19.23% and a return on equity of 18.32%. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the prior year, the business posted $1.38 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts forecast that AMETEK, Inc. will post 6.25 EPS for the current fiscal year.

AMETEK Announces Dividend

The business 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. This represents a $1.00 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Wednesday, September 13th. AMETEK’s payout ratio is 18.73%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of AMETEK from $162.00 to $174.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. StockNews.com assumed coverage on shares of AMETEK in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Mizuho upped their target price on shares of AMETEK from $161.00 to $166.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Seaport Res Ptn reaffirmed a “buy” rating on shares of AMETEK in a research note on Monday, August 7th. Finally, DA Davidson boosted their price target on shares of AMETEK from $177.00 to $180.00 in a report on Thursday, June 8th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, AMETEK presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.29.

Insider Activity

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

About AMETEK

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.