TD Asset Management Inc Grows Position in AMETEK, Inc. (NYSE:AME)

TD Asset Management Inc grew its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 1.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 107,004 shares of the technology company's stock after purchasing an additional 1,741 shares during the period. TD Asset Management Inc's holdings in AMETEK were worth $18,420,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AME. DAVENPORT & Co LLC boosted its position in AMETEK by 0.8% during the 1st 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. Sowell Financial Services LLC acquired a new position in shares of AMETEK in the 1st quarter worth approximately $293,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of AMETEK by 10.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 115,194 shares of the technology company's stock worth $19,829,000 after purchasing an additional 10,685 shares during the period. National Bank of Canada FI lifted its position in shares of AMETEK by 17.4% in the 4th quarter. National Bank of Canada FI now owns 142,093 shares of the technology company's stock worth $25,616,000 after purchasing an additional 21,009 shares during the period. Finally, Fenimore Asset Management Inc lifted its position in shares of AMETEK by 1.6% in the 1st quarter. Fenimore Asset Management Inc now owns 277,371 shares of the technology company's stock worth $47,747,000 after purchasing an additional 4,502 shares during the period. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. KeyCorp boosted their price target on shares of AMETEK from $195.00 to $205.00 and gave the stock an "overweight" rating in a research report on Friday. Melius Research upgraded shares of AMETEK to a "hold" rating in a research note on Monday, July 14th. Robert W. Baird lowered their price objective on shares of AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Finally, Melius lowered shares of AMETEK from a "buy" rating to a "hold" rating and set a $192.00 price objective 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, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $200.18.

AMETEK Stock Down 1.4%

AME stock traded down $2.67 during midday trading on Friday, reaching $182.18. 1,725,013 shares of the company's stock traded hands, compared to its average volume of 1,423,460. The company has a market cap of $42.06 billion, a price-to-earnings ratio of 29.34, a P/E/G ratio of 2.77 and a beta of 1.10. The firm's fifty day moving average price is $179.44 and its 200-day moving average price is $177.01. The company has a quick ratio of 0.86, a current ratio of 1.63 and a debt-to-equity ratio of 0.15. 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 posted its quarterly earnings data on Thursday, July 31st. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the firm earned $1.66 EPS. The business's revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, sell-side analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.24 dividend on an annualized basis and a yield of 0.7%. AMETEK's dividend payout ratio is 20.29%.

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.