Erste Asset Management GmbH Acquires Shares of 87,230 AMETEK, Inc. (NYSE:AME)

Erste Asset Management GmbH bought a new position in shares of AMETEK, Inc. (NYSE:AME) during the third quarter, according to its most recent filing with the SEC. The fund bought 87,230 shares of the technology company’s stock, valued at approximately $14,981,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Family Firm Inc. bought a new stake in AMETEK in the second quarter worth about $39,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of AMETEK in the 2nd quarter worth approximately $42,000. Princeton Global Asset Management LLC bought a new position in AMETEK during the third quarter valued at $44,000. Crewe Advisors LLC increased its position in AMETEK by 168.8% in the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock worth $49,000 after buying an additional 184 shares during the last quarter. Finally, First Command Advisory Services Inc. bought a new stake in shares of AMETEK in the second quarter valued at $50,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Truist Financial lifted their price objective on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a report on Friday, November 1st. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Robert W. Baird raised their price objective on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Mizuho lifted their price objective on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Wolfe Research upgraded AMETEK to a “hold” rating in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $199.29.

AMETEK Stock Down 0.4 %

Shares of NYSE:AME opened at $194.38 on Monday. The company has a market cap of $44.96 billion, a price-to-earnings ratio of 33.86, a PEG ratio of 3.17 and a beta of 1.16. AMETEK, Inc. has a one year low of $149.03 and a one year high of $198.33. The firm has a fifty day moving average price of $179.05 and a two-hundred day moving average price of $171.63. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the company earned $1.64 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts anticipate that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Friday, December 6th. AMETEK’s dividend payout ratio is currently 19.51%.

Insider Buying and Selling at AMETEK

In other news, insider David F. Hermance sold 6,243 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the transaction, the insider now directly owns 36,731 shares in the company, valued at approximately $7,015,253.69. This represents a 14.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares of the company’s stock, valued at $4,006,454.91. The trade was a 5.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,660 shares of company stock worth $5,958,141 over the last three months. 0.61% of the stock is owned by insiders.

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.