AMETEK, Inc. (NYSE:AME) Shares Bought by iA Global Asset Management Inc.

iA Global Asset Management Inc. increased its holdings in AMETEK, Inc. (NYSE:AME) by 6.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,794 shares of the technology company’s stock after purchasing an additional 1,924 shares during the quarter. iA Global Asset Management Inc.’s holdings in AMETEK were worth $5,467,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in shares of AMETEK in the fourth quarter valued at $205,270,000. Truist Financial Corp grew its holdings in shares of AMETEK by 2.4% during the fourth quarter. Truist Financial Corp now owns 53,871 shares of the technology company’s stock valued at $8,883,000 after buying an additional 1,252 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of AMETEK by 26.3% in the 4th quarter. Russell Investments Group Ltd. now owns 89,202 shares of the technology company’s stock valued at $14,713,000 after purchasing an additional 18,588 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in shares of AMETEK by 6.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 3,860 shares of the technology company’s stock worth $636,000 after purchasing an additional 223 shares during the period. Finally, Savant Capital LLC grew its position in AMETEK by 4.1% during the fourth quarter. Savant Capital LLC now owns 3,824 shares of the technology company’s stock valued at $631,000 after purchasing an additional 150 shares in the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,440 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the sale, the director now directly owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AME shares. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Truist Financial lowered their target price on AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Royal Bank of Canada cut their price target on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Oppenheimer raised AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price target for the company in a research note on Wednesday, May 22nd. Finally, StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $186.29.

AMETEK Stock Up 1.0 %

NYSE AME opened at $171.05 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.66 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $39.59 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 2.57 and a beta of 1.18. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32. The stock’s 50 day moving average is $166.34 and its two-hundred day moving average is $172.30.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the company posted $1.57 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts forecast that AMETEK, Inc. will post 6.78 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Monday, September 16th. AMETEK’s dividend payout ratio is currently 19.68%.

AMETEK Company 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.