Desjardins Global Asset Management Inc. Raises Position in AMETEK, Inc. (NYSE:AME)

Desjardins Global Asset Management Inc. increased its holdings in AMETEK, Inc. (NYSE:AME) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,753 shares of the technology company’s stock after acquiring an additional 101 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in AMETEK were worth $1,443,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. McGlone Suttner Wealth Management Inc. acquired a new position in shares of AMETEK in the fourth quarter worth about $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of AMETEK in the fourth quarter worth about $26,000. Bruce G. Allen Investments LLC acquired a new position in shares of AMETEK in the fourth quarter worth about $28,000. Covestor Ltd lifted its stake in shares of AMETEK by 84.3% in the first quarter. Covestor Ltd now owns 212 shares of the technology company’s stock worth $28,000 after acquiring an additional 97 shares in the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new position in shares of AMETEK in the fourth quarter worth about $28,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Stock Up 0.0 %

NYSE:AME opened at $179.08 on Wednesday. The firm has a market capitalization of $41.41 billion, a PE ratio of 31.58, a price-to-earnings-growth ratio of 2.86 and a beta of 1.22. The stock has a 50 day moving average of $178.82 and a 200-day moving average of $163.94. AMETEK, Inc. has a 52 week low of $133.12 and a 52 week high of $186.32. The company has a current ratio of 0.98, a quick ratio of 0.59 and a debt-to-equity ratio of 0.22.

AMETEK (NYSE:AME) last posted its earnings results on Tuesday, February 6th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.62 by $0.06. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.73 billion. AMETEK had a return on equity of 17.96% and a net margin of 19.91%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.52 earnings per share. Analysts predict that AMETEK, Inc. will post 6.82 EPS for the current year.

AMETEK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, March 7th. AMETEK’s dividend payout ratio is 19.75%.

Analyst Ratings Changes

Several research firms recently commented on AME. Royal Bank of Canada cut their price target on AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Truist Financial started coverage on AMETEK in a research note on Thursday, March 14th. They set a “buy” rating and a $210.00 price objective on the stock. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. Finally, KeyCorp upped their price objective on AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $180.78.

Insider Buying and Selling

In related news, CFO William Joseph Burke sold 5,973 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $168.90, for a total value of $1,008,839.70. Following the completion of the transaction, the chief financial officer now directly owns 101,709 shares of the company’s stock, valued at approximately $17,178,650.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Thomas A. Amato sold 780 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total value of $141,960.00. Following the completion of the transaction, the director now directly owns 10,240 shares of the company’s stock, valued at approximately $1,863,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William Joseph Burke sold 5,973 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $168.90, for a total value of $1,008,839.70. Following the transaction, the chief financial officer now directly owns 101,709 shares of the company’s stock, valued at $17,178,650.10. The disclosure for this sale can be found here. Insiders sold 59,881 shares of company stock valued at $10,689,758 in the last three months. 0.61% of the stock is currently owned by corporate insiders.

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.