Mirae Asset Global Investments Co. Ltd. boosted its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 14.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,878 shares of the technology company's stock after purchasing an additional 2,965 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in AMETEK were worth $3,898,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in AME. Banque Transatlantique SA acquired a new stake in AMETEK during the 4th quarter valued at $37,000. OFI Invest Asset Management acquired a new stake in AMETEK during the 4th quarter valued at $43,000. Minot DeBlois Advisors LLC acquired a new stake in AMETEK during the 4th quarter valued at $43,000. Golden State Wealth Management LLC grew its holdings in AMETEK by 201.0% during the 1st quarter. Golden State Wealth Management LLC now owns 295 shares of the technology company's stock valued at $51,000 after purchasing an additional 197 shares in the last quarter. Finally, Ancora Advisors LLC grew its holdings in AMETEK by 15,950.0% during the 4th quarter. Ancora Advisors LLC now owns 321 shares of the technology company's stock valued at $58,000 after purchasing an additional 319 shares in the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.
AMETEK Stock Performance
Shares of NYSE AME traded up $2.20 during midday trading on Friday, hitting $184.19. The company's stock had a trading volume of 719,336 shares, compared to its average volume of 1,303,844. AMETEK, Inc. has a 1-year low of $145.02 and a 1-year high of $198.33. The firm's fifty day moving average price is $177.30 and its 200-day moving average price is $177.08. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.41. The firm has a market cap of $42.53 billion, a P/E ratio of 30.15, a P/E/G ratio of 2.76 and a beta of 1.09.
AMETEK (NYSE:AME - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.69 by $0.06. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the business posted $1.64 EPS. The company's quarterly revenue was down .2% on a year-over-year basis. On average, sell-side analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.
AMETEK Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Friday, June 13th. AMETEK's dividend payout ratio (DPR) is presently 20.29%.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. Mizuho set a $212.00 price target on shares of AMETEK in a report on Friday, May 16th. Morgan Stanley started coverage on shares of AMETEK in a report on Monday, April 14th. They set an "equal weight" rating and a $170.00 price objective for the company. Royal Bank Of Canada raised their price objective on shares of AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Robert W. Baird decreased their price objective on shares of AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Finally, Truist Financial raised their price objective on shares of AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AMETEK presently has a consensus rating of "Moderate Buy" and a consensus price target of $197.89.
Get Our Latest Research Report on AME
AMETEK Company Profile
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Free Report)
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.
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