Connor Clark & Lunn Investment Management Ltd. Sells 1,905 Shares of AMETEK, Inc. (NYSE:AME)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of AMETEK, Inc. (NYSE:AME) by 15.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 10,643 shares of the technology company’s stock after selling 1,905 shares during the quarter. 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 and hedge funds have also modified their holdings of the business. State Street Corp increased its holdings in AMETEK by 0.3% in the 3rd quarter. State Street Corp now owns 9,220,376 shares of the technology company’s stock worth $1,583,231,000 after buying an additional 24,072 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of AMETEK by 3.7% during the third quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company’s stock valued at $1,199,454,000 after purchasing an additional 250,538 shares during the last quarter. Geode Capital Management LLC lifted its position in AMETEK by 0.8% during the third quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company’s stock valued at $924,308,000 after purchasing an additional 45,459 shares during the period. Bank of New York Mellon Corp boosted its holdings in AMETEK by 2.3% in the fourth quarter. Bank of New York Mellon Corp now owns 4,415,508 shares of the technology company’s stock worth $795,939,000 after purchasing an additional 99,505 shares during the last quarter. Finally, Flossbach Von Storch SE grew its position in AMETEK by 2.5% in the 4th quarter. Flossbach Von Storch SE now owns 3,724,352 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 91,287 shares during the period. Institutional investors own 87.43% of the company’s stock.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of the business’s stock in a transaction 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 sale, the director now owns 22,029 shares in the company, valued at $4,172,512.89. The trade was a 5.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AME shares. Robert W. Baird lowered their price target on AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. KeyCorp raised their target price on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Sunday, March 9th. Truist Financial raised their price objective on shares of AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Bank of America raised shares of AMETEK from a “neutral” rating to a “buy” rating and upped their target price for the company from $195.00 to $225.00 in a report on Monday, December 16th. One equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $204.67.

AMETEK Stock Performance

AME opened at $175.90 on Wednesday. The company has a 50 day simple moving average of $183.02 and a two-hundred day simple moving average of $180.46. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75. The firm has a market cap of $40.57 billion, a P/E ratio of 29.66, a PEG ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a 1-year low of $149.03 and a 1-year high of $198.33.

AMETEK (NYSE:AME) last issued its earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.02. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.82 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. AMETEK’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.68 EPS. Equities analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK announced that its board has approved a share repurchase program on Friday, February 7th that permits the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

AMETEK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 0.70%. The ex-dividend date is Friday, March 14th. This is an increase from AMETEK’s previous quarterly dividend of $0.28. AMETEK’s dividend payout ratio (DPR) is 20.91%.

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.