Canada Pension Plan Investment Board Has $25.10 Million Stake in AMETEK, Inc. (NYSE:AME)

Canada Pension Plan Investment Board trimmed its position in shares of AMETEK, Inc. (NYSE:AME) by 11.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 150,532 shares of the technology company’s stock after selling 19,701 shares during the period. Canada Pension Plan Investment Board owned 0.07% of AMETEK worth $25,095,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of AMETEK by 11.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,669,394 shares of the technology company’s stock valued at $275,266,000 after buying an additional 167,602 shares in the last quarter. Cim LLC purchased a new position in AMETEK during the 4th quarter valued at about $1,254,000. Nomura Holdings Inc. acquired a new position in shares of AMETEK in the 4th quarter valued at about $768,000. Duality Advisers LP purchased a new stake in shares of AMETEK in the first quarter worth approximately $1,676,000. Finally, Czech National Bank boosted its holdings in shares of AMETEK by 8.6% during the second quarter. Czech National Bank now owns 44,108 shares of the technology company’s stock worth $7,353,000 after purchasing an additional 3,499 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AME. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Truist Financial dropped their price target on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. TD Cowen lowered their target price on AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Finally, StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $186.29.

AMETEK Price Performance

NYSE AME opened at $171.10 on Monday. The firm has a market cap of $39.60 billion, a P/E ratio of 30.07, a price-to-earnings-growth ratio of 2.71 and a beta of 1.17. The stock’s 50-day moving average is $166.57 and its two-hundred day moving average is $171.27. AMETEK, Inc. has a fifty-two week low of $136.89 and a fifty-two week high of $186.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.02. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.57 EPS. On average, analysts anticipate that AMETEK, Inc. will post 6.77 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Monday, September 16th. AMETEK’s dividend payout ratio is currently 19.68%.

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.