Toronto Dominion Bank Has $11.65 Million Position in AMETEK, Inc. (AME)
Toronto Dominion Bank increased its stake in shares of AMETEK, Inc. (NYSE:AME) by 18.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 161,540 shares of the technology company’s stock after acquiring an additional 25,670 shares during the period. Toronto Dominion Bank’s holdings in AMETEK were worth $11,654,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in AMETEK by 7.8% in the first quarter. BlackRock Inc. now owns 16,255,467 shares of the technology company’s stock valued at $1,234,928,000 after buying an additional 1,181,279 shares during the period. Massachusetts Financial Services Co. MA raised its stake in AMETEK by 1.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,447,603 shares of the technology company’s stock valued at $393,100,000 after buying an additional 78,075 shares during the period. Boston Partners raised its stake in AMETEK by 3.4% in the second quarter. Boston Partners now owns 5,436,691 shares of the technology company’s stock valued at $392,311,000 after buying an additional 179,026 shares during the period. Mawer Investment Management Ltd. raised its stake in AMETEK by 2.0% in the first quarter. Mawer Investment Management Ltd. now owns 2,744,040 shares of the technology company’s stock valued at $208,424,000 after buying an additional 54,366 shares during the period. Finally, Lord Abbett & CO. LLC raised its stake in AMETEK by 2.3% in the first quarter. Lord Abbett & CO. LLC now owns 2,031,719 shares of the technology company’s stock valued at $154,350,000 after buying an additional 45,461 shares during the period. Institutional investors and hedge funds own 85.56% of the company’s stock.
Several analysts have issued reports on the company. Cowen restated a “buy” rating and issued a $85.00 price objective on shares of AMETEK in a research note on Sunday, August 12th. Zacks Investment Research upgraded AMETEK from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a research note on Tuesday, May 22nd. BMO Capital Markets upped their price objective on AMETEK from $90.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, May 3rd. Morgan Stanley upped their price objective on AMETEK from $76.00 to $79.00 and gave the company an “equal weight” rating in a research note on Thursday, May 3rd. Finally, ValuEngine lowered AMETEK from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. AMETEK presently has an average rating of “Buy” and an average target price of $86.08.
Shares of NYSE AME opened at $76.66 on Tuesday. The company has a market cap of $17.70 billion, a PE ratio of 29.37, a PEG ratio of 2.17 and a beta of 1.26. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.19 and a current ratio of 1.71. AMETEK, Inc. has a 1-year low of $61.77 and a 1-year high of $79.32.
AMETEK (NYSE:AME) last announced its earnings results on Tuesday, July 31st. The technology company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.05. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. AMETEK had a return on equity of 16.94% and a net margin of 16.65%. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 earnings per share. equities research analysts predict that AMETEK, Inc. will post 3.21 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.73%. AMETEK’s dividend payout ratio (DPR) is currently 21.46%.
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.
Read More: Dividend Stocks – Are They Right For You?
Want to see what other hedge funds are holding AME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AMETEK, Inc. (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.