Ontario Teachers Pension Plan Board Purchases 6,307 Shares of AMETEK, Inc. (AME)

Ontario Teachers Pension Plan Board increased its stake in AMETEK, Inc. (NYSE:AME) by 12.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,657 shares of the technology company’s stock after acquiring an additional 6,307 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in AMETEK were worth $4,641,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AME. BlackRock Inc. increased its holdings in AMETEK by 11.8% in the 2nd quarter. BlackRock Inc. now owns 18,178,345 shares of the technology company’s stock worth $1,311,749,000 after acquiring an additional 1,922,878 shares in the last quarter. Millennium Management LLC increased its holdings in AMETEK by 169.1% in the 2nd quarter. Millennium Management LLC now owns 1,647,306 shares of the technology company’s stock worth $118,870,000 after acquiring an additional 1,035,084 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in AMETEK in the 2nd quarter worth $40,825,000. Epoch Investment Partners Inc. increased its holdings in AMETEK by 62.5% in the 2nd quarter. Epoch Investment Partners Inc. now owns 1,296,342 shares of the technology company’s stock worth $93,544,000 after acquiring an additional 498,391 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in AMETEK by 10.4% in the 3rd quarter. American Century Companies Inc. now owns 4,237,926 shares of the technology company’s stock worth $335,305,000 after acquiring an additional 400,177 shares in the last quarter. 84.90% of the stock is owned by institutional investors.

Shares of AME opened at $71.66 on Friday. AMETEK, Inc. has a 52-week low of $64.91 and a 52-week high of $81.92. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.42 and a current ratio of 2.06. The firm has a market cap of $16.63 billion, a price-to-earnings ratio of 27.46, a price-to-earnings-growth ratio of 1.96 and a beta of 1.30.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, November 1st. The technology company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.04. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. AMETEK had a net margin of 17.06% and a return on equity of 17.08%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS. As a group, analysts forecast that AMETEK, Inc. will post 3.27 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, December 6th. This represents a $0.56 annualized dividend and a dividend yield of 0.78%. AMETEK’s payout ratio is 21.46%.

AME has been the topic of several recent research reports. Royal Bank of Canada reaffirmed a “buy” rating and set a $86.00 target price on shares of AMETEK in a research note on Wednesday, August 1st. Morgan Stanley lifted their target price on shares of AMETEK from $79.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 1st. BMO Capital Markets lifted their target price on shares of AMETEK from $92.00 to $93.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 1st. Bank of America lifted their target price on shares of AMETEK from $87.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Finally, Oppenheimer lifted their target price on shares of AMETEK from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 1st. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $87.00.

In other news, Director Elizebeth R. Varet sold 3,000 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $77.00, for a total transaction of $231,000.00. Following the transaction, the director now owns 107,810 shares of the company’s stock, valued at approximately $8,301,370. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Elizebeth R. Varet sold 1,500 shares of the business’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $78.10, for a total transaction of $117,150.00. Following the transaction, the director now directly owns 4,148 shares in the company, valued at approximately $323,958.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,925 shares of company stock worth $4,580,360. Corporate insiders own 2.10% of the company’s stock.

TRADEMARK VIOLATION WARNING: This report was originally posted by WKRB News and is the property of of WKRB News. If you are accessing this report on another publication, it was stolen and republished in violation of US & international copyright laws. The legal version of this report can be read at https://www.wkrb13.com/2018/11/25/ontario-teachers-pension-plan-board-purchases-6307-shares-of-ametek-inc-ame.html.

About AMETEK

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.

Featured Story: Swap

Institutional Ownership by Quarter for AMETEK (NYSE:AME)

Receive News & Ratings for AMETEK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMETEK and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply