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

Key Points

• Mackenzie Financial Corp increased its stake in AMETEK, Inc. by 17.1%, now owning a total of 23,612 shares worth approximately $4,065,000.
• Several analysts have revised their price targets for AMETEK, with Mizuho raising their target from $212 to $225 and others maintaining ratings of "buy" or "outperform."
• AMETEK reported a quarterly earnings of $1.78 per share, surpassing estimates, with a revenue of $1.78 billion, reflecting a 2.5% year-over-year growth.

Mackenzie Financial Corp raised its position in AMETEK, Inc. (NYSE:AME - Free Report) by 17.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,612 shares of the technology company's stock after purchasing an additional 3,449 shares during the quarter. Mackenzie Financial Corp's holdings in AMETEK were worth $4,065,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Olde Wealth Management LLC bought a new position in AMETEK in the 1st quarter worth about $29,000. Banque Transatlantique SA bought a new position in AMETEK in the 4th quarter worth about $37,000. Minot DeBlois Advisors LLC bought a new position in AMETEK in the 4th quarter worth about $43,000. Golden State Wealth Management LLC grew its stake in AMETEK by 201.0% in the 1st quarter. Golden State Wealth Management LLC now owns 295 shares of the technology company's stock worth $51,000 after acquiring an additional 197 shares in the last quarter. Finally, Ancora Advisors LLC boosted its stake in shares of AMETEK by 15,950.0% during the fourth quarter. Ancora Advisors LLC now owns 321 shares of the technology company's stock valued at $58,000 after purchasing an additional 319 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on AME. Mizuho increased their price objective on shares of AMETEK from $212.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday. Morgan Stanley began coverage on shares of AMETEK in a research note on Monday, April 14th. They set an "equal weight" rating and a $170.00 price objective on the stock. DA Davidson increased their price objective on shares of AMETEK from $210.00 to $215.00 and gave the company a "buy" rating in a research note on Friday. Melius Research upgraded shares of AMETEK to a "hold" rating in a research note on Monday, July 14th. Finally, Robert W. Baird increased their price objective on shares of AMETEK from $190.00 to $198.00 and gave the company a "neutral" rating in a research note on Monday. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $200.91.

AMETEK Stock Performance

AME stock traded up $1.95 during midday trading on Monday, hitting $184.31. 1,959,814 shares of the stock traded hands, compared to its average volume of 1,509,711. AMETEK, Inc. has a 1-year low of $145.02 and a 1-year high of $198.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.63 and a quick ratio of 1.04. The stock's fifty day simple moving average is $179.44 and its 200-day simple moving average is $176.96. The firm has a market cap of $42.57 billion, a P/E ratio of 29.68, a PEG ratio of 2.72 and a beta of 1.10.

AMETEK (NYSE:AME - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The technology company reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.69 by $0.09. AMETEK had a net margin of 20.60% and a return on equity of 16.53%. The company had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $1.74 billion. During the same quarter in the previous year, the company earned $1.66 earnings per share. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, June 13th. AMETEK's dividend payout ratio is 19.97%.

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.