National Bank of Canada FI Has $31.87 Million Stake in AMETEK, Inc. (NYSE:AME)

Key Points

• National Bank of Canada FI increased its stake in AMETEK, Inc. by 30.3% during the first quarter, acquiring an additional 43,072 shares and holding a total of 185,165 shares valued at approximately $31.87 million.
• AMETEK recently reported earnings of $1.78 per share, beating analysts' expectations, with revenue of $1.78 billion, an increase of 2.5% year over year.
• The company declared a quarterly dividend of $0.31 per share, resulting in an annualized dividend yield of 0.7% and a payout ratio of 19.97%.

National Bank of Canada FI boosted its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 30.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 185,165 shares of the technology company's stock after purchasing an additional 43,072 shares during the period. National Bank of Canada FI owned approximately 0.08% of AMETEK worth $31,874,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. DAVENPORT & Co LLC increased its position in AMETEK by 0.8% in the first quarter. DAVENPORT & Co LLC now owns 7,125 shares of the technology company's stock worth $1,226,000 after buying an additional 60 shares during the period. Alps Advisors Inc. increased its position in AMETEK by 1.0% in the first quarter. Alps Advisors Inc. now owns 6,260 shares of the technology company's stock worth $1,078,000 after buying an additional 60 shares during the period. EWA LLC increased its position in AMETEK by 4.9% in the first quarter. EWA LLC now owns 1,382 shares of the technology company's stock worth $238,000 after buying an additional 65 shares during the period. Buckhead Capital Management LLC increased its position in AMETEK by 0.3% in the first quarter. Buckhead Capital Management LLC now owns 22,830 shares of the technology company's stock worth $3,930,000 after buying an additional 65 shares during the period. Finally, Signaturefd LLC increased its holdings in shares of AMETEK by 1.5% during the first quarter. Signaturefd LLC now owns 4,625 shares of the technology company's stock valued at $796,000 after purchasing an additional 67 shares during the period. Hedge funds and other institutional investors own 87.43% of the company's stock.

AMETEK Stock Performance

NYSE AME traded down $2.37 during trading on Thursday, hitting $184.54. The company's stock had a trading volume of 414,116 shares, compared to its average volume of 1,376,978. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average price of $180.36 and a 200 day moving average price of $177.00. The firm has a market cap of $42.62 billion, a P/E ratio of 29.73, a price-to-earnings-growth ratio of 2.67 and a beta of 1.10. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week high of $198.33.

AMETEK (NYSE:AME - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The technology company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.69 by $0.09. The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a return on equity of 16.53% and a net margin of 20.60%. The company's revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.66 EPS. Equities research analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.24 annualized dividend and a yield of 0.7%. AMETEK's payout ratio is currently 19.97%.

Analysts Set New Price Targets

AME has been the topic of a number of research analyst reports. Truist Financial raised their price target on AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a report on Monday, May 5th. Royal Bank Of Canada raised their target price on AMETEK from $209.00 to $212.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Morgan Stanley raised their target price on AMETEK from $185.00 to $198.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. Wall Street Zen raised AMETEK from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Finally, Melius cut AMETEK from a "buy" rating to a "hold" rating and set a $192.00 target price for the company. in a research note on Monday, July 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $208.00.

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.