National Bank of Canada FI Buys 54,434 Shares of AMETEK, Inc. (NYSE:AME)

National Bank of Canada FI grew its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 81.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,084 shares of the technology company's stock after buying an additional 54,434 shares during the quarter. National Bank of Canada FI owned approximately 0.05% of AMETEK worth $20,791,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Itau Unibanco Holding S.A. boosted its holdings in AMETEK by 62.6% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company's stock valued at $34,000 after acquiring an additional 77 shares during the period. Family Firm Inc. purchased a new position in AMETEK during the second quarter worth approximately $39,000. Industrial Alliance Investment Management Inc. purchased a new position in AMETEK in the 2nd quarter valued at about $42,000. Princeton Global Asset Management LLC acquired a new position in AMETEK during the third quarter worth $44,000. Finally, Crewe Advisors LLC grew its position in AMETEK by 168.8% in the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company's stock worth $49,000 after acquiring an additional 184 shares during the period. 87.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AME shares. Truist Financial upped their target price on shares of AMETEK from $219.00 to $221.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Mizuho boosted their target price on shares of AMETEK from $190.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Robert W. Baird boosted their target price on AMETEK from $166.00 to $186.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. Wolfe Research upgraded AMETEK to a "hold" rating in a research note on Wednesday, September 18th. Finally, KeyCorp boosted their price objective on AMETEK from $205.00 to $215.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $199.29.

AMETEK Price Performance

Shares of AME stock traded down $1.26 during mid-day trading on Tuesday, hitting $188.63. 1,044,213 shares of the stock traded hands, compared to its average volume of 1,154,355. The company's 50-day simple moving average is $181.68 and its 200-day simple moving average is $172.62. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33. The firm has a market cap of $43.63 billion, a price-to-earnings ratio of 32.86, a price-to-earnings-growth ratio of 3.13 and a beta of 1.15. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39.

AMETEK (NYSE:AME - Get Free Report) last announced its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) 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 the consensus estimate of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The company's revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.64 EPS. As a group, equities research analysts expect that AMETEK, Inc. will post 6.8 earnings per share for the current year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors 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 annualized dividend and a dividend yield of 0.59%. AMETEK's payout ratio is 19.51%.

Insider Activity at AMETEK

In related news, insider Tony J. Ciampitti sold 16,210 shares of the company's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total value of $3,193,532.10. Following the completion of the transaction, the insider now directly owns 49,490 shares in the company, valued at approximately $9,750,024.90. This represents a 24.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David F. Hermance sold 6,243 shares of the firm's stock in a transaction that occurred on 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 sale, the insider now directly owns 36,731 shares of the company's stock, valued at approximately $7,015,253.69. The trade was a 14.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,660 shares of company stock valued at $5,958,141. 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.