Daiwa Securities Group Inc. Raises Holdings in AMETEK, Inc. (NYSE:AME)

Daiwa Securities Group Inc. lifted its position in AMETEK, Inc. (NYSE:AME) by 30.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,849 shares of the technology company’s stock after purchasing an additional 12,718 shares during the quarter. Daiwa Securities Group Inc.’s holdings in AMETEK were worth $9,247,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AME. B. Riley Wealth Advisors Inc. lifted its stake in shares of AMETEK by 42.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,919 shares of the technology company’s stock worth $351,000 after acquiring an additional 573 shares during the period. Tidal Investments LLC boosted its holdings in AMETEK by 15.1% in the 1st quarter. Tidal Investments LLC now owns 4,930 shares of the technology company’s stock valued at $902,000 after purchasing an additional 646 shares in the last quarter. Comerica Bank increased its position in AMETEK by 0.4% during the 1st quarter. Comerica Bank now owns 74,825 shares of the technology company’s stock worth $13,685,000 after purchasing an additional 314 shares during the period. Plato Investment Management Ltd raised its stake in shares of AMETEK by 29,554.5% during the 1st quarter. Plato Investment Management Ltd now owns 9,786 shares of the technology company’s stock worth $1,790,000 after buying an additional 9,753 shares in the last quarter. Finally, EdgePoint Investment Group Inc. lifted its holdings in shares of AMETEK by 1.1% in the 1st quarter. EdgePoint Investment Group Inc. now owns 945,183 shares of the technology company’s stock valued at $172,874,000 after buying an additional 10,428 shares during the period. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AME shares. Mizuho boosted their target price on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Truist Financial lifted their price target on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Robert W. Baird raised their price objective on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $199.29.

Insider Transactions at AMETEK

In other news, insider David F. Hermance sold 6,243 shares of the stock in a transaction dated Friday, November 8th. The shares were 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 $7,015,253.69. This represents a 14.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tony J. Ciampitti sold 16,210 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the completion of the sale, the insider now directly owns 49,490 shares in the company, valued at $9,750,024.90. This represents a 24.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,913 shares of company stock worth $4,636,404 over the last quarter. 0.61% of the stock is currently owned by insiders.

AMETEK Stock Down 0.1 %

AME opened at $197.12 on Tuesday. The firm has a market cap of $45.60 billion, a P/E ratio of 34.34, a PEG ratio of 3.22 and a beta of 1.16. The business’s fifty day simple moving average is $177.04 and its 200 day simple moving average is $170.91. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $198.33. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.64 earnings per share. As a group, equities research analysts anticipate that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, December 6th. AMETEK’s dividend payout ratio is presently 19.51%.

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.