Bank of Montreal Can Increases Stock Position in AMETEK, Inc. (NYSE:AME)

Bank of Montreal Can raised its position in AMETEK, Inc. (NYSE:AME) by 10.5% in the second quarter, Holdings Channel reports. The institutional investor owned 307,017 shares of the technology company’s stock after purchasing an additional 29,212 shares during the period. Bank of Montreal Can’s holdings in AMETEK were worth $52,046,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of AMETEK by 11.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,669,394 shares of the technology company’s stock valued at $275,266,000 after purchasing an additional 167,602 shares in the last quarter. Cim LLC acquired a new position in shares of AMETEK during the 4th quarter worth approximately $1,254,000. Nomura Holdings Inc. purchased a new position in shares of AMETEK during the 4th quarter valued at approximately $768,000. Duality Advisers LP purchased a new position in AMETEK during the first quarter valued at $1,676,000. Finally, Czech National Bank lifted its stake in AMETEK by 8.6% in the 2nd quarter. Czech National Bank now owns 44,108 shares of the technology company’s stock valued at $7,353,000 after buying an additional 3,499 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Royal Bank of Canada decreased their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Wolfe Research raised AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Truist Financial cut their price objective on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. TD Cowen dropped their price target on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Finally, Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.29.

AMETEK Stock Up 0.4 %

AMETEK stock opened at $171.25 on Thursday. The company has a market capitalization of $39.65 billion, a PE ratio of 30.10, a price-to-earnings-growth ratio of 2.81 and a beta of 1.17. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26. AMETEK, Inc. has a fifty-two week low of $136.89 and a fifty-two week high of $186.32. The firm has a 50 day moving average price of $166.44 and a 200 day moving average price of $171.12.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the previous year, the firm posted $1.57 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. Research analysts expect that AMETEK, Inc. will post 6.77 earnings per share for the current year.

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. AMETEK’s dividend payout ratio is presently 19.68%.

About AMETEK

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.