JARISLOWSKY FRASER Ltd Has $112.52 Million Stock Position in AMETEK, Inc. (NYSE:AME)

JARISLOWSKY FRASER Ltd trimmed its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 629,766 shares of the technology company's stock after selling 19,312 shares during the quarter. JARISLOWSKY FRASER Ltd owned about 0.27% of AMETEK worth $112,523,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. National Bank of Canada FI lifted its position in shares of AMETEK by 17.4% during the 4th quarter. National Bank of Canada FI now owns 142,093 shares of the technology company's stock valued at $25,616,000 after acquiring an additional 21,009 shares during the period. Czech National Bank lifted its position in shares of AMETEK by 6.3% during the 4th quarter. Czech National Bank now owns 50,153 shares of the technology company's stock worth $9,041,000 after buying an additional 2,987 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of AMETEK by 434.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company's stock worth $97,614,000 after buying an additional 440,197 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of AMETEK by 16.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,898 shares of the technology company's stock worth $16,025,000 after buying an additional 12,584 shares during the last quarter. Finally, Fox Run Management L.L.C. lifted its position in shares of AMETEK by 74.1% during the 4th quarter. Fox Run Management L.L.C. now owns 8,418 shares of the technology company's stock worth $1,517,000 after buying an additional 3,584 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AME has been the subject of several recent analyst reports. Truist Financial upped their price objective on AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Royal Bank of Canada upped their price objective on AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Robert W. Baird dropped their price objective on AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Morgan Stanley initiated coverage on AMETEK in a research report on Monday, April 14th. They set an "equal weight" rating and a $170.00 price objective for the company. Finally, BNP Paribas upgraded AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price objective for the company in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $196.90.

AMETEK Trading Down 0.6%

AMETEK stock traded down $1.11 during trading hours on Wednesday, hitting $179.39. The stock had a trading volume of 1,254,789 shares, compared to its average volume of 1,295,366. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15. The stock has a market cap of $41.42 billion, a price-to-earnings ratio of 30.25, a P/E/G ratio of 2.73 and a beta of 1.12. AMETEK, Inc. has a one year low of $145.02 and a one year high of $198.33. The business's 50 day simple moving average is $168.23 and its 200-day simple moving average is $179.66.

AMETEK (NYSE:AME - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.69 by $0.06. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The business's quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the company earned $1.64 earnings per share. On average, equities analysts predict that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.31 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.24 annualized dividend and a dividend yield of 0.69%. AMETEK's payout ratio is 20.29%.

AMETEK announced that its Board of Directors has authorized a stock repurchase plan on Friday, February 7th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the technology company to buy up to 2.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,320 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the completion of the sale, the director now owns 22,029 shares of the company's stock, valued at approximately $4,172,512.89. This represents a 5.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas A. Amato sold 710 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $176.64, for a total value of $125,414.40. Following the completion of the sale, the director now directly owns 10,560 shares of the company's stock, valued at approximately $1,865,318.40. The trade was a 6.30% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.57% of the company's stock.

AMETEK 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.