Mirae Asset Global Investments Co. Ltd. Has $7.12 Million Holdings in AMETEK, Inc. $AME

Mirae Asset Global Investments Co. Ltd. increased its position in shares of AMETEK, Inc. (NYSE:AME) by 22.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 37,853 shares of the technology company’s stock after buying an additional 6,911 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in AMETEK were worth $7,116,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AME. Darwin Wealth Management LLC acquired a new position in shares of AMETEK in the 2nd quarter valued at about $25,000. NewSquare Capital LLC lifted its stake in AMETEK by 129.7% in the second quarter. NewSquare Capital LLC now owns 170 shares of the technology company’s stock valued at $31,000 after buying an additional 96 shares during the period. TruNorth Capital Management LLC bought a new position in shares of AMETEK during the 3rd quarter worth approximately $31,000. SouthState Corp grew its position in shares of AMETEK by 47.4% during the 2nd quarter. SouthState Corp now owns 202 shares of the technology company’s stock worth $37,000 after buying an additional 65 shares during the period. Finally, AdvisorShares Investments LLC bought a new stake in shares of AMETEK in the 2nd quarter valued at $39,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AMETEK

In other AMETEK news, VP Thomas M. Montgomery sold 6,388 shares of the business’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $205.05, for a total value of $1,309,859.40. Following the transaction, the vice president owned 22,116 shares of the company’s stock, valued at approximately $4,534,885.80. The trade was a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David A. Zapico sold 88,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $196.39, for a total value of $17,282,320.00. Following the completion of the transaction, the chief executive officer owned 348,955 shares of the company’s stock, valued at $68,531,272.45. This trade represents a 20.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 137,088 shares of company stock worth $27,212,340 in the last 90 days. Insiders own 0.57% of the company’s stock.

AMETEK Stock Down 1.1%

AME stock opened at $224.04 on Friday. The firm has a market capitalization of $51.57 billion, a PE ratio of 35.34, a P/E/G ratio of 3.09 and a beta of 1.04. The company has a quick ratio of 0.72, a current ratio of 1.16 and a debt-to-equity ratio of 0.14. AMETEK, Inc. has a twelve month low of $145.02 and a twelve month high of $227.79. The stock’s 50 day moving average is $207.72 and its 200-day moving average is $194.01.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, October 30th. The technology company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.76 by $0.13. AMETEK had a net margin of 20.50% and a return on equity of 16.66%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the prior year, the company posted $1.66 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. Sell-side analysts expect that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.24 annualized dividend and a dividend yield of 0.6%. AMETEK’s dividend payout ratio (DPR) is currently 19.56%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Barclays raised their price target on shares of AMETEK from $205.00 to $210.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. Robert W. Baird increased their price objective on shares of AMETEK from $198.00 to $204.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Morgan Stanley boosted their target price on AMETEK from $198.00 to $215.00 and gave the company an “equal weight” rating in a research report on Monday, January 12th. TD Cowen upgraded AMETEK from a “sell” rating to a “buy” rating in a report on Tuesday, December 23rd. Finally, Truist Financial raised their price objective on AMETEK from $219.00 to $229.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $229.82.

AMETEK Company Profile

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.

The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.