Healthcare of Ontario Pension Plan Trust Fund Has $3.10 Million Stock Holdings in AMETEK, Inc. $AME

Key Points

• Healthcare of Ontario Pension Plan Trust Fund reduced its AMETEK stake by 36% in the first quarter, selling 8,142 shares and retaining 14,458 shares valued at approximately $3.10 million. Institutional investors collectively own 87.43% of the company.
• Analysts maintain a generally positive view of AMETEK, with a consensus rating of “Moderate Buy” and an average price target of $256.29. Recent targets range from $244 to $303.
• AMETEK reported quarterly adjusted earnings of $1.97 per share, exceeding estimates by $0.07, while revenue rose 11.3% year over year to $1.93 billion. The company also pays a quarterly dividend of $0.34, equivalent to a 0.6% annual yield.

Healthcare of Ontario Pension Plan Trust Fund trimmed its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 36.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,458 shares of the technology company's stock after selling 8,142 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in AMETEK were worth $3,099,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. CoreCap Advisors LLC grew its stake in AMETEK by 84.3% in the fourth quarter. CoreCap Advisors LLC now owns 129 shares of the technology company's stock valued at $26,000 after acquiring an additional 59 shares during the period. MV Capital Management Inc. bought a new position in shares of AMETEK during the 4th quarter valued at about $28,000. Brown Lisle Cummings Inc. increased its stake in AMETEK by 878.6% during the 1st quarter. Brown Lisle Cummings Inc. now owns 137 shares of the technology company's stock worth $29,000 after purchasing an additional 123 shares in the last quarter. Darwin Wealth Management LLC bought a new position in AMETEK in the second quarter valued at approximately $25,000. Finally, SJS Investment Consulting Inc. raised its holdings in shares of AMETEK by 393.1% during the first quarter. SJS Investment Consulting Inc. now owns 143 shares of the technology company's stock worth $31,000 after acquiring an additional 114 shares during the period. Institutional investors own 87.43% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on AME shares. Robert W. Baird set a $244.00 price target on AMETEK in a report on Friday, May 1st. Truist Financial upped their price target on AMETEK from $275.00 to $303.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Morgan Stanley lifted their price objective on shares of AMETEK from $235.00 to $245.00 and gave the company an "equal weight" rating in a report on Friday, July 10th. Mizuho set a $270.00 target price on shares of AMETEK in a research report on Friday, May 1st. Finally, Rothschild & Co Redburn set a $265.00 price target on shares of AMETEK in a research report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $256.29.

AMETEK Stock Up 2.0%

AMETEK stock opened at $239.93 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.14 and a quick ratio of 0.72. The company's 50-day moving average is $233.22 and its 200-day moving average is $228.42. The firm has a market capitalization of $54.99 billion, a PE ratio of 36.24, a P/E/G ratio of 3.30 and a beta of 0.99. AMETEK, Inc. has a fifty-two week low of $179.24 and a fifty-two week high of $244.71.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $1.97 earnings per share for the quarter, topping 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 firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the business earned $1.75 earnings per share. The business's revenue was up 11.3% compared to the same quarter last year. Sell-side analysts anticipate that AMETEK, Inc. will post 8.14 earnings per share for the current year.

AMETEK Announces Dividend

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

About AMETEK

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.

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