CIBC Asset Management Inc lessened its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 30.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,159 shares of the technology company's stock after selling 15,041 shares during the quarter. CIBC Asset Management Inc's holdings in AMETEK were worth $5,865,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of AME. Family Firm Inc. bought a new stake in AMETEK during the 2nd quarter valued at $39,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of AMETEK in the 2nd quarter worth $42,000. Princeton Global Asset Management LLC acquired a new stake in shares of AMETEK in the 3rd quarter worth $44,000. Crewe Advisors LLC boosted its position in shares of AMETEK by 168.8% in the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the technology company's stock worth $49,000 after purchasing an additional 184 shares in the last quarter. Finally, First Command Advisory Services Inc. acquired a new stake in shares of AMETEK in the 2nd quarter worth $50,000. Institutional investors own 87.43% of the company's stock.
NYSE AME opened at $193.10 on Monday. The stock has a 50-day simple moving average of $173.59 and a two-hundred day simple moving average of $169.76. The firm has a market capitalization of $44.67 billion, a P/E ratio of 33.64, 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 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 - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the business posted $1.64 EPS. The company's revenue was up 5.3% on a year-over-year basis. On average, equities analysts forecast that AMETEK, Inc. will post 6.81 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. AMETEK's dividend payout ratio is presently 19.51%.
In other AMETEK news, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the sale, the insider now owns 36,731 shares of the company's stock, valued at $7,015,253.69. The trade was a 14.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares of the company's stock, valued at $4,006,454.91. This trade represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.
A number of research firms have recently weighed in on AME. Truist Financial raised their price objective on AMETEK from $219.00 to $221.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Wolfe Research raised AMETEK to a "hold" rating in a research report on Wednesday, September 18th. Robert W. Baird raised their price objective on AMETEK from $166.00 to $186.00 and gave the stock a "neutral" rating in a research report on Monday, November 4th. Royal Bank of Canada reduced their target price on AMETEK from $216.00 to $215.00 and set an "outperform" rating for the company in a research note on Friday, August 2nd. Finally, TD Cowen lowered AMETEK from a "hold" rating to a "sell" rating in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $197.86.
Check Out Our Latest Stock Report on AME
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.
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