Mirae Asset Global Investments Co. Ltd. Buys 6,911 Shares of AMETEK, Inc. $AME

Mirae Asset Global Investments Co. Ltd. raised its stake in AMETEK, Inc. (NYSE:AME) by 22.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,853 shares of the technology company’s stock after acquiring 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 hedge funds also recently modified their holdings of AME. Darwin Wealth Management LLC acquired a new stake in AMETEK during the second quarter worth about $25,000. NewSquare Capital LLC lifted its holdings in shares of AMETEK by 129.7% during the 2nd quarter. NewSquare Capital LLC now owns 170 shares of the technology company’s stock worth $31,000 after acquiring an additional 96 shares during the period. TruNorth Capital Management LLC acquired a new stake in shares of AMETEK during the 3rd quarter worth approximately $31,000. SouthState Corp increased its stake in AMETEK by 47.4% in the second quarter. SouthState Corp now owns 202 shares of the technology company’s stock valued at $37,000 after acquiring an additional 65 shares during the last quarter. Finally, AdvisorShares Investments LLC acquired a new position in AMETEK during the second quarter valued at approximately $39,000. Institutional investors own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AME. Barclays raised their target price on AMETEK from $205.00 to $210.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. Melius Research set a $235.00 price objective on AMETEK in a research note on Monday, January 5th. Deutsche Bank Aktiengesellschaft assumed coverage on AMETEK in a research note on Wednesday, January 21st. They set a “buy” rating and a $271.00 target price for the company. Oppenheimer downgraded shares of AMETEK from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Finally, KeyCorp upped their price objective on shares of AMETEK from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $229.82.

Insider Activity at AMETEK

In related news, VP Thomas M. Montgomery sold 6,388 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $205.05, for a total transaction of $1,309,859.40. Following the completion of the transaction, the vice president directly owned 22,116 shares of the company’s stock, valued at $4,534,885.80. This trade represents a 22.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David A. Zapico sold 28,390 shares of AMETEK stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $201.76, for a total value of $5,727,966.40. The disclosure for this sale is available in the SEC filing. Insiders sold 137,088 shares of company stock worth $27,212,340 over the last three months. Company insiders own 0.57% of the company’s stock.

AMETEK Stock Performance

AMETEK stock opened at $224.04 on Friday. The business has a 50 day moving average of $207.72 and a 200-day moving average of $194.01. The company has a market capitalization of $51.57 billion, a P/E ratio of 35.34, a P/E/G ratio of 3.09 and a beta of 1.04. AMETEK, Inc. has a 1 year low of $145.02 and a 1 year high of $227.79. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.16 and a quick ratio of 0.72.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, October 30th. The technology company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. AMETEK had a net margin of 20.50% and a return on equity of 16.66%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the previous year, the firm posted $1.66 EPS. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities research analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a $0.31 dividend. 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 payout ratio is currently 19.56%.

AMETEK 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.