AMETEK, Inc. (NYSE:AME) Position Boosted by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 40.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,598 shares of the technology company's stock after purchasing an additional 9,622 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in AMETEK were worth $6,056,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Moore Capital Management LP purchased a new stake in AMETEK in the 4th quarter worth approximately $4,420,000. Lazard Asset Management LLC grew its position in shares of AMETEK by 393.1% in the fourth quarter. Lazard Asset Management LLC now owns 1,215,087 shares of the technology company's stock valued at $219,030,000 after purchasing an additional 968,661 shares during the period. Lighthouse Investment Partners LLC purchased a new stake in shares of AMETEK in the fourth quarter valued at $1,803,000. Graham Capital Management L.P. acquired a new position in AMETEK in the fourth quarter valued at $4,090,000. Finally, Focus Partners Wealth lifted its position in AMETEK by 11.3% during the fourth quarter. Focus Partners Wealth now owns 8,865 shares of the technology company's stock worth $1,733,000 after buying an additional 902 shares during the period. Hedge funds and other institutional investors own 87.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AME. Wall Street Zen raised shares of AMETEK from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Mizuho set a $212.00 target price on shares of AMETEK in a report on Friday, May 16th. Truist Financial increased their price target on shares of AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Royal Bank of Canada boosted their price objective on shares of AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Finally, Robert W. Baird cut their target price on AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $198.10.

AMETEK Stock Up 0.5%

AMETEK stock traded up $0.87 during trading on Thursday, reaching $178.55. 787,379 shares of the company's stock were exchanged, compared to its average volume of 1,292,376. AMETEK, Inc. has a 52-week low of $145.02 and a 52-week high of $198.33. The firm has a market cap of $41.22 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 2.73 and a beta of 1.12. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24. The company's 50-day moving average is $168.60 and its two-hundred day moving average is $179.91.

AMETEK (NYSE:AME - Get Free Report) last issued its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.06. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the business earned $1.64 earnings per share. The company's revenue was down .2% compared to the same quarter last year. On average, analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.69%. AMETEK's payout ratio is currently 20.29%.

AMETEK declared that its Board of Directors has initiated a share buyback plan on Friday, February 7th that allows the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In other AMETEK news, Director Thomas A. Amato sold 710 shares of the business's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total value of $125,414.40. Following the transaction, the director now owns 10,560 shares in the company, valued at $1,865,318.40. The trade was a 6.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven W. Kohlhagen sold 1,320 shares of AMETEK stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the sale, the director now directly owns 22,029 shares in the company, valued at approximately $4,172,512.89. The trade was a 5.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.57% of the company's stock.

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.