TD Asset Management Inc. increased its position in AMETEK, Inc. (NYSE:AME) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 439,314 shares of the technology company’s stock after purchasing an additional 5,222 shares during the period. TD Asset Management Inc. owned 0.19% of AMETEK worth $34,758,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of AME. BlackRock Inc. grew its stake in AMETEK by 11.8% in the second quarter. BlackRock Inc. now owns 18,178,345 shares of the technology company’s stock worth $1,311,749,000 after purchasing an additional 1,922,878 shares during the period. Millennium Management LLC grew its stake in AMETEK by 169.1% in the second quarter. Millennium Management LLC now owns 1,647,306 shares of the technology company’s stock worth $118,870,000 after purchasing an additional 1,035,084 shares during the period. Renaissance Technologies LLC purchased a new stake in AMETEK in the second quarter worth $40,825,000. BNP Paribas Arbitrage SA grew its stake in AMETEK by 714.2% in the second quarter. BNP Paribas Arbitrage SA now owns 610,418 shares of the technology company’s stock worth $44,048,000 after purchasing an additional 535,447 shares during the period. Finally, Epoch Investment Partners Inc. grew its stake in AMETEK by 62.5% in the second quarter. Epoch Investment Partners Inc. now owns 1,296,342 shares of the technology company’s stock worth $93,544,000 after purchasing an additional 498,391 shares during the period. 85.09% of the stock is currently owned by institutional investors.
Several equities research analysts recently weighed in on the company. Cowen reaffirmed a “buy” rating and issued a $85.00 price target on shares of AMETEK in a research note on Sunday, August 12th. BMO Capital Markets upped their price target on 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 upped their price target on AMETEK from $87.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Oppenheimer boosted their target price on AMETEK from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, August 1st. Finally, ValuEngine raised AMETEK from a “hold” rating to a “buy” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. AMETEK has an average rating of “Buy” and a consensus target price of $87.00.
AMETEK (NYSE:AME) last released its earnings results on Thursday, November 1st. The technology company reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.04. AMETEK had a return on equity of 17.08% and a net margin of 17.06%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the company posted $0.66 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, research analysts predict that AMETEK, Inc. will post 3.27 EPS for the current year.
In other news, insider John Wesley Hardin sold 29,955 shares of the company’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $81.55, for a total transaction of $2,442,830.25. Following the transaction, the insider now directly owns 70,016 shares of the company’s stock, valued at $5,709,804.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Elizebeth R. Varet sold 3,000 shares of the company’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $77.00, for a total value of $231,000.00. Following the transaction, the director now directly owns 107,810 shares in the company, valued at $8,301,370. The disclosure for this sale can be found here. Insiders sold 56,925 shares of company stock worth $4,580,360 over the last three months. Corporate insiders own 2.10% of the company’s stock.
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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.
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