Mirae Asset Global Investments Co. Ltd. Sells 7,515 Shares of AMETEK, Inc. (NYSE:AME)

Mirae Asset Global Investments Co. Ltd. trimmed its stake in shares of AMETEK, Inc. (NYSE:AME) by 18.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 33,821 shares of the technology company’s stock after selling 7,515 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in AMETEK were worth $5,577,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of AME. Cambridge Investment Research Advisors Inc. lifted its position in shares of AMETEK by 9.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,306 shares of the technology company’s stock valued at $573,000 after acquiring an additional 376 shares during the period. Lord Abbett & CO. LLC lifted its position in shares of AMETEK by 12.7% during the 1st quarter. Lord Abbett & CO. LLC now owns 84,481 shares of the technology company’s stock valued at $11,251,000 after acquiring an additional 9,510 shares during the period. Prudential PLC bought a new stake in shares of AMETEK during the 1st quarter valued at $591,000. Cetera Investment Advisers lifted its position in shares of AMETEK by 45.1% during the 1st quarter. Cetera Investment Advisers now owns 2,974 shares of the technology company’s stock valued at $396,000 after acquiring an additional 924 shares during the period. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of AMETEK by 41.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,379 shares of the technology company’s stock worth $316,000 after buying an additional 700 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,400 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $180.59, for a total value of $252,826.00. Following the completion of the sale, the director now owns 28,054 shares of the company’s stock, valued at $5,066,271.86. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Steven W. Kohlhagen sold 1,400 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $180.59, for a total value of $252,826.00. Following the completion of the sale, the director now owns 28,054 shares of the company’s stock, valued at $5,066,271.86. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas A. Amato sold 780 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total value of $141,960.00. Following the completion of the sale, the director now directly owns 10,240 shares of the company’s stock, valued at approximately $1,863,680. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,881 shares of company stock valued at $10,689,758. Company insiders own 0.61% of the company’s stock.

AMETEK Price Performance

Shares of AME opened at $179.71 on Monday. AMETEK, Inc. has a 12-month low of $133.12 and a 12-month high of $186.32. The business has a 50-day simple moving average of $178.31 and a two-hundred day simple moving average of $163.51. The company has a quick ratio of 0.59, a current ratio of 0.98 and a debt-to-equity ratio of 0.22. The stock has a market cap of $41.55 billion, a PE ratio of 31.69, a PEG ratio of 2.87 and a beta of 1.22.

AMETEK (NYSE:AME) last issued its earnings results on Tuesday, February 6th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.06. AMETEK had a return on equity of 17.96% and a net margin of 19.91%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Analysts anticipate that AMETEK, Inc. will post 6.82 earnings per share for the current fiscal year.

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were paid a $0.28 dividend. This is a boost from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, March 7th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. AMETEK’s dividend payout ratio is presently 19.75%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AME shares. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Royal Bank of Canada lowered their price target on AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. KeyCorp boosted their price target on AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Finally, Truist Financial started coverage on AMETEK in a report on Thursday, March 14th. They set a “buy” rating and a $210.00 price target for the company. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $180.78.

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.