Mirae Asset Global Investments Co. Ltd. Has $5.58 Million Holdings in AMETEK, Inc. (NYSE:AME)

Mirae Asset Global Investments Co. Ltd. lessened its stake in shares of AMETEK, Inc. (NYSE:AME) by 18.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,821 shares of the technology company’s stock after selling 7,515 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in AMETEK were worth $5,577,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. McGlone Suttner Wealth Management Inc. acquired a new position in shares of AMETEK in the 4th quarter valued at about $25,000. Bruce G. Allen Investments LLC acquired a new position in shares of AMETEK in the 4th quarter valued at about $28,000. Resurgent Financial Advisors LLC acquired a new position in shares of AMETEK in the 4th quarter valued at about $28,000. Covestor Ltd increased its holdings in shares of AMETEK by 84.3% in the 1st quarter. Covestor Ltd now owns 212 shares of the technology company’s stock valued at $28,000 after purchasing an additional 97 shares during the period. Finally, Quarry LP acquired a new position in shares of AMETEK in the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Stock Down 0.4 %

Shares of AMETEK stock opened at $179.71 on Monday. The stock has a market capitalization of $41.55 billion, a P/E ratio of 31.69, a PEG ratio of 2.87 and a beta of 1.22. 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 50 day moving average price of $178.31 and a two-hundred day moving average price of $163.51. AMETEK, Inc. has a 12-month low of $133.12 and a 12-month high of $186.32.

AMETEK (NYSE:AME) last announced 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. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. AMETEK had a return on equity of 17.96% and a net margin of 19.91%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.52 earnings per share. Equities analysts expect that AMETEK, Inc. will post 6.82 earnings per share for the current year.

AMETEK Increases Dividend

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

Insider Activity at AMETEK

In related news, CFO William Joseph Burke sold 17,437 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $168.51, for a total value of $2,938,308.87. Following the completion of the transaction, the chief financial officer now directly owns 101,709 shares in the company, valued at $17,138,983.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AMETEK news, Director Thomas A. Amato sold 780 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total transaction of $141,960.00. Following the completion of the transaction, the director now directly owns 10,240 shares in the company, valued at $1,863,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William Joseph Burke sold 17,437 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $168.51, for a total value of $2,938,308.87. Following the transaction, the chief financial officer now owns 101,709 shares of the company’s stock, valued at $17,138,983.59. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,881 shares of company stock worth $10,689,758. 0.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

About AMETEK

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.