Connor Clark & Lunn Investment Management Ltd. Sells 51,561 Shares of AMETEK, Inc. (NYSE:AME)

Connor Clark & Lunn Investment Management Ltd. lessened its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 80.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,548 shares of the technology company's stock after selling 51,561 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in AMETEK were worth $2,155,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Family Firm Inc. bought a new position in AMETEK during the second quarter valued at approximately $39,000. Industrial Alliance Investment Management Inc. bought a new position in AMETEK during the second quarter valued at approximately $42,000. Princeton Global Asset Management LLC bought a new position in AMETEK during the third quarter valued at approximately $44,000. Crewe Advisors LLC lifted its position in AMETEK by 168.8% during the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company's stock valued at $49,000 after purchasing an additional 184 shares during the period. Finally, First Command Advisory Services Inc. bought a new position in AMETEK in the second quarter worth approximately $50,000. 87.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Tony J. Ciampitti sold 16,210 shares of the firm's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $197.01, for a total value of $3,193,532.10. Following the completion of the sale, the insider now owns 49,490 shares in the company, valued at approximately $9,750,024.90. This trade represents a 24.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the sale, the director now owns 23,349 shares of the company's stock, valued at $4,006,454.91. The trade was a 5.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,913 shares of company stock valued at $4,636,404 in the last three months. Corporate insiders own 0.61% of the company's stock.

Analysts Set New Price Targets

AME has been the topic of several recent research reports. StockNews.com downgraded shares of AMETEK from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Mizuho increased their price target on shares of AMETEK from $190.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Truist Financial increased their price target on shares of AMETEK from $219.00 to $221.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Robert W. Baird increased their price target on shares of AMETEK from $166.00 to $186.00 and gave the stock a "neutral" rating in a research report on Monday, November 4th. Finally, KeyCorp increased their price target on shares of AMETEK from $205.00 to $215.00 and gave the stock an "overweight" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $199.29.

AMETEK Price Performance

Shares of NYSE AME traded up $0.01 during midday trading on Tuesday, reaching $197.13. The stock had a trading volume of 1,282,927 shares, compared to its average volume of 1,156,013. The stock has a 50-day moving average of $177.04 and a 200-day moving average of $170.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. The company has a market capitalization of $45.60 billion, a price-to-earnings ratio of 34.34, a price-to-earnings-growth ratio of 3.22 and a beta of 1.16. AMETEK, Inc. has a 12-month low of $149.03 and a 12-month high of $198.33.

AMETEK (NYSE:AME - Get Free Report) last posted its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.04. The company had revenue of $1.71 billion during the quarter, compared to analysts' expectations of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. AMETEK's quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the company posted $1.64 earnings per share. As a group, research analysts anticipate that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.28 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.57%. AMETEK's payout ratio is currently 19.51%.

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.