BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 16,725 Shares of AMETEK, Inc. (NYSE:AME)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in AMETEK, Inc. (NYSE:AME) by 60.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,280 shares of the technology company’s stock after buying an additional 16,725 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in AMETEK were worth $7,382,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AME. Washington Trust Advisors Inc. acquired a new stake in AMETEK in the first quarter valued at approximately $37,000. Family Firm Inc. bought a new position in shares of AMETEK in the 2nd quarter worth $39,000. Industrial Alliance Investment Management Inc. acquired a new stake in AMETEK in the 2nd quarter valued at $42,000. Headlands Technologies LLC bought a new stake in AMETEK during the 1st quarter valued at $43,000. Finally, Crewe Advisors LLC raised its holdings in AMETEK by 168.8% during the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock worth $49,000 after buying an additional 184 shares during the last quarter. 87.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AME has been the subject of a number of analyst reports. TD Cowen reduced their price objective on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a report on Monday, August 5th. Truist Financial decreased their price objective on AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Royal Bank of Canada dropped their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Wolfe Research upgraded AMETEK to a “hold” rating in a report on Wednesday, September 18th. Finally, Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $186.29.

AMETEK Stock Up 0.4 %

Shares of NYSE:AME opened at $171.25 on Thursday. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32. 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 business has a fifty day moving average price of $166.44 and a two-hundred day moving average price of $171.12. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76.

AMETEK (NYSE:AME) last posted its quarterly earnings data 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. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.57 earnings per share. Analysts forecast that AMETEK, Inc. will post 6.77 earnings per share for the current year.

AMETEK Dividend Announcement

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