AMETEK, Inc. (NYSE:AME) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp trimmed its position in AMETEK, Inc. (NYSE:AMEGet Rating) by 91.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,231 shares of the technology company’s stock after selling 167,403 shares during the period. Mackenzie Financial Corp’s holdings in AMETEK were worth $1,784,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AME. CI Investments Inc. grew its stake in AMETEK by 159.2% in the first quarter. CI Investments Inc. now owns 1,169,628 shares of the technology company’s stock worth $155,771,000 after purchasing an additional 718,396 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in AMETEK by 45.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,549,101 shares of the technology company’s stock worth $206,310,000 after acquiring an additional 485,407 shares during the last quarter. Vanguard Group Inc. lifted its holdings in AMETEK by 1.9% in the first quarter. Vanguard Group Inc. now owns 24,608,566 shares of the technology company’s stock worth $3,277,369,000 after acquiring an additional 463,926 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in AMETEK by 8.5% in the first quarter. JPMorgan Chase & Co. now owns 5,595,759 shares of the technology company’s stock worth $745,243,000 after acquiring an additional 437,235 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in AMETEK by 2.7% in the first quarter. BlackRock Inc. now owns 15,699,216 shares of the technology company’s stock worth $2,090,820,000 after acquiring an additional 419,800 shares during the last quarter. 85.46% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Price Performance

NYSE AME opened at $141.64 on Wednesday. AMETEK, Inc. has a 12 month low of $106.17 and a 12 month high of $148.07. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.53 and a quick ratio of 0.88. The firm has a market capitalization of $32.53 billion, a PE ratio of 28.97, a P/E/G ratio of 2.55 and a beta of 1.24. The company’s 50 day simple moving average is $124.35 and its 200 day simple moving average is $120.77.

AMETEK (NYSE:AMEGet Rating) last posted its quarterly earnings data on Tuesday, November 1st. The technology company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.08. AMETEK had a net margin of 18.81% and a return on equity of 18.40%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter last year, the business earned $1.26 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities research analysts forecast that AMETEK, Inc. will post 5.63 EPS for the current fiscal year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 23rd. Investors of record on Wednesday, December 7th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.62%. AMETEK’s dividend payout ratio is presently 18.00%.

Analysts Set New Price Targets

AME has been the topic of a number of recent research reports. Wells Fargo & Company cut their target price on shares of AMETEK from $180.00 to $165.00 and set an “overweight” rating on the stock in a report on Monday, October 24th. KeyCorp raised their target price on shares of AMETEK from $145.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday. Morgan Stanley raised their target price on shares of AMETEK from $137.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday, November 2nd. DA Davidson lifted their price target on AMETEK to $160.00 in a report on Tuesday, August 9th. Finally, Mizuho lifted their price target on AMETEK from $140.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, November 2nd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $149.80.

Insiders Place Their Bets

In other AMETEK news, insider Thomas C. Marecic sold 2,318 shares of AMETEK stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $141.01, for a total value of $326,861.18. Following the transaction, the insider now owns 31,622 shares in the company, valued at $4,459,018.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other AMETEK news, Director Steven W. Kohlhagen sold 3,100 shares of AMETEK stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $123.75, for a total value of $383,625.00. Following the transaction, the director now owns 42,864 shares in the company, valued at $5,304,420. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Thomas C. Marecic sold 2,318 shares of AMETEK stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $141.01, for a total transaction of $326,861.18. Following the completion of the transaction, the insider now owns 31,622 shares in the company, valued at approximately $4,459,018.22. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

AMETEK Company Profile

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AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

Further Reading

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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