Connor Clark & Lunn Investment Management Ltd. Has $1.92 Million Position in AMETEK, Inc. (NYSE:AME)

Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 15.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,643 shares of the technology company's stock after selling 1,905 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in AMETEK were worth $1,919,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AME. Principal Financial Group Inc. raised its holdings in 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 acquiring an additional 703,501 shares in the last quarter. Empowered Funds LLC raised its holdings in AMETEK by 24.6% in the third quarter. Empowered Funds LLC now owns 12,348 shares of the technology company's stock valued at $2,120,000 after acquiring an additional 2,440 shares in the last quarter. Natixis Advisors LLC raised its holdings in AMETEK by 1.9% in the third quarter. Natixis Advisors LLC now owns 110,625 shares of the technology company's stock valued at $18,996,000 after acquiring an additional 2,059 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in AMETEK by 5.4% in the third quarter. Mutual of America Capital Management LLC now owns 39,845 shares of the technology company's stock valued at $6,842,000 after acquiring an additional 2,033 shares in the last quarter. Finally, Swiss National Bank raised its holdings in AMETEK by 0.4% in the third quarter. Swiss National Bank now owns 687,025 shares of the technology company's stock valued at $117,969,000 after acquiring an additional 2,500 shares in the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

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AMETEK Price Performance

NYSE AME traded down $1.43 on Friday, reaching $174.50. The company's stock had a trading volume of 1,422,601 shares, compared to its average volume of 1,160,636. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24. The stock has a market cap of $40.26 billion, a PE ratio of 29.43, a PEG ratio of 2.73 and a beta of 1.14. The firm's 50 day moving average is $182.92 and its two-hundred day moving average is $180.43.

AMETEK (NYSE:AME - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, beating analysts' consensus estimates of $1.85 by $0.02. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the company earned $1.68 EPS. AMETEK's revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts predict that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.31 per share. The ex-dividend date is Friday, March 14th. This is a positive change from AMETEK's previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a yield of 0.71%. AMETEK's dividend payout ratio is currently 20.91%.

AMETEK announced that its board has initiated a share repurchase program on Friday, February 7th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the technology company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Robert W. Baird cut their price target on shares of AMETEK from $200.00 to $197.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. BNP Paribas raised shares of AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price target on the stock in a report on Thursday, January 16th. KeyCorp boosted their target price on shares of AMETEK from $205.00 to $215.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. Truist Financial boosted their target price on shares of AMETEK from $221.00 to $222.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Finally, Bank of America upgraded shares of AMETEK from a "neutral" rating to a "buy" rating and upped their price target for the stock from $195.00 to $225.00 in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $204.67.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,320 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were 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 directly owns 22,029 shares of the company's stock, valued at $4,172,512.89. This represents a 5.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.61% of the company's stock.

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.