Ontario Teachers Pension Plan Board Sells 8,005 Shares of AMETEK, Inc. (NYSE:AME)

Ontario Teachers Pension Plan Board reduced its stake in shares of AMETEK, Inc. (NYSE:AME) by 53.0% in the third quarter, HoldingsChannel.com reports. The firm owned 7,085 shares of the technology company’s stock after selling 8,005 shares during the period. Ontario Teachers Pension Plan Board’s holdings in AMETEK were worth $1,217,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in shares of AMETEK by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company’s stock worth $1,195,478,000 after buying an additional 44,899 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of AMETEK by 34.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock worth $600,615,000 after buying an additional 926,657 shares during the last quarter. Boston Partners boosted its stake in shares of AMETEK by 3.0% in the 1st quarter. Boston Partners now owns 3,063,588 shares of the technology company’s stock worth $560,278,000 after buying an additional 90,271 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of AMETEK by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,882,166 shares of the technology company’s stock worth $313,777,000 after buying an additional 148,447 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of AMETEK by 72.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock worth $288,526,000 after buying an additional 703,501 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Trading Down 0.1 %

AMETEK stock opened at $193.33 on Thursday. The stock has a market cap of $44.72 billion, a P/E ratio of 33.68, a PEG ratio of 3.15 and a beta of 1.16. AMETEK, Inc. has a fifty-two week low of $149.03 and a fifty-two week high of $196.70. The firm’s fifty day moving average price is $175.30 and its 200-day moving average price is $170.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.04. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.64 earnings per share. Equities research analysts forecast that AMETEK, Inc. will post 6.81 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.28 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. AMETEK’s payout ratio is currently 19.51%.

Analyst Upgrades and Downgrades

AME has been the topic of several research analyst reports. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. TD Cowen downgraded AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Wolfe Research upgraded AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Truist Financial upped their price objective on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Robert W. Baird upped their price objective on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $197.86.

Insider Activity at AMETEK

In related news, insider David F. Hermance sold 6,243 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the transaction, the insider now owns 36,731 shares of the company’s stock, valued at $7,015,253.69. This represents a 14.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the transaction, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. This represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

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.