EdgePoint Investment Group Inc. Sells 1,044,703 Shares of AMETEK, Inc. $AME

Key Points

• EdgePoint Investment Group reduced its AMETEK stake by 35.8%, selling 1,044,703 shares during the first quarter. It still held 1.87 million shares worth approximately $401.8 million, representing 3.2% of its portfolio.
• Analysts maintain a generally positive outlook, with AMETEK carrying a consensus “Moderate Buy” rating and an average price target of $256.29, above its reported $243.25 share price.
• AMETEK exceeded quarterly earnings and revenue expectations, reporting $1.97 in EPS and $1.93 billion in revenue, while year-over-year revenue increased 11.3%. The company also pays a $0.34 quarterly dividend, equivalent to a 0.6% annual yield.

EdgePoint Investment Group Inc. cut its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 35.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,874,241 shares of the technology company's stock after selling 1,044,703 shares during the period. AMETEK comprises approximately 3.2% of EdgePoint Investment Group Inc.'s holdings, making the stock its 15th largest position. EdgePoint Investment Group Inc. owned approximately 0.82% of AMETEK worth $401,762,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in AMETEK during the fourth quarter valued at $831,372,000. Wellington Management Group LLP lifted its stake in shares of AMETEK by 302.9% in the 4th quarter. Wellington Management Group LLP now owns 2,807,664 shares of the technology company's stock worth $576,441,000 after purchasing an additional 2,110,818 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of AMETEK by 539.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,070,555 shares of the technology company's stock worth $219,796,000 after buying an additional 903,061 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of AMETEK by 35.7% in the third quarter. Lazard Asset Management LLC now owns 2,645,977 shares of the technology company's stock worth $497,444,000 after buying an additional 695,419 shares during the last quarter. Finally, Man Group plc grew its position in AMETEK by 411.8% during the third quarter. Man Group plc now owns 785,020 shares of the technology company's stock valued at $147,584,000 after buying an additional 631,649 shares during the period. 87.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AME has been the topic of several recent research reports. Citigroup started coverage on shares of AMETEK in a research report on Monday, June 15th. They issued a "neutral" rating and a $257.00 price target on the stock. Royal Bank Of Canada upped their price objective on AMETEK from $259.00 to $260.00 and gave the stock an "outperform" rating in a research note on Friday, May 1st. Wall Street Zen downgraded AMETEK from a "buy" rating to a "hold" rating in a research report on Sunday, May 10th. Barclays upped their price target on AMETEK from $220.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Monday, May 4th. Finally, Mizuho set a $270.00 price objective on AMETEK in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $256.29.

AMETEK Stock Up 0.5%

AME opened at $243.25 on Tuesday. The stock has a market cap of $55.75 billion, a price-to-earnings ratio of 36.74, a price-to-earnings-growth ratio of 3.39 and a beta of 0.99. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.72 and a current ratio of 1.14. The firm's fifty day moving average is $232.25 and its 200 day moving average is $227.82. AMETEK, Inc. has a fifty-two week low of $175.61 and a fifty-two week high of $244.71.

AMETEK (NYSE:AME - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The technology company reported $1.97 EPS for the quarter, beating analysts' consensus estimates of $1.90 by $0.07. AMETEK had a return on equity of 16.63% and a net margin of 20.11%.The business had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.91 billion. During the same period last year, the firm earned $1.75 earnings per share. The business's quarterly revenue was up 11.3% on a year-over-year basis. AMETEK has set its FY 2026 guidance at 7.940-8.140 EPS and its Q2 2026 guidance at 1.960-2.000 EPS. On average, sell-side analysts forecast that AMETEK, Inc. will post 8.14 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 15th. AMETEK's dividend payout ratio (DPR) is 20.54%.

AMETEK Company Profile

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.

The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.