BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Position in AMETEK, Inc. (NYSE:AME)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in AMETEK, Inc. (NYSE:AME - Free Report) by 12.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,625 shares of the technology company's stock after selling 5,655 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in AMETEK were worth $6,632,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in shares of AMETEK by 34.6% in the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company's stock valued at $600,615,000 after purchasing an additional 926,657 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of AMETEK by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,882,166 shares of the technology company's stock valued at $313,777,000 after purchasing an additional 148,447 shares during the period. Principal Financial Group Inc. increased its holdings in shares of AMETEK by 72.0% in the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company's stock valued at $288,526,000 after purchasing an additional 703,501 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of AMETEK by 12.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,660,133 shares of the technology company's stock valued at $276,761,000 after purchasing an additional 186,263 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of AMETEK by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,291,649 shares of the technology company's stock valued at $221,789,000 after purchasing an additional 19,435 shares during the period. Hedge funds and other institutional investors own 87.43% of the company's stock.

Insider Activity

In related news, insider David F. Hermance sold 6,243 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the transaction, the insider now directly owns 36,731 shares in the company, valued at approximately $7,015,253.69. This represents a 14.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now owns 23,349 shares in the company, valued at $4,006,454.91. This trade represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,660 shares of company stock worth $5,958,141 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AME has been the topic of a number of recent research reports. Wolfe Research raised AMETEK to a "hold" rating in a report on Wednesday, September 18th. Robert W. Baird upped their price objective on AMETEK from $166.00 to $186.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. KeyCorp upped their price objective on AMETEK from $205.00 to $215.00 and gave the stock an "overweight" rating in a report on Friday, November 22nd. Truist Financial upped their price objective on AMETEK from $219.00 to $221.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Finally, TD Cowen lowered AMETEK from a "hold" rating to a "sell" rating in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $199.29.

AMETEK Price Performance

AMETEK stock traded down $1.22 during trading hours on Tuesday, hitting $194.34. The stock had a trading volume of 1,717,940 shares, compared to its average volume of 1,207,906. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The stock has a market capitalization of $44.95 billion, a price-to-earnings ratio of 33.86, a PEG ratio of 3.19 and a beta of 1.15. AMETEK, Inc. has a 1-year low of $149.03 and a 1-year high of $198.33. The stock's fifty day moving average is $180.01 and its two-hundred day moving average is $172.02.

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 for the quarter, compared to analyst estimates of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. AMETEK's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.64 earnings per share. As a group, analysts predict that AMETEK, Inc. will post 6.8 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. AMETEK's dividend 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.