Erste Asset Management GmbH Invests $14.98 Million in AMETEK, Inc. (NYSE:AME)

Erste Asset Management GmbH bought a new stake in shares of AMETEK, Inc. (NYSE:AME) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 87,230 shares of the technology company’s stock, valued at approximately $14,981,000.

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

AMETEK Price Performance

Shares of NYSE AME opened at $194.38 on Monday. The company has a 50 day simple moving average of $179.05 and a two-hundred day simple moving average of $171.63. AMETEK, Inc. has a fifty-two week low of $149.03 and a fifty-two week high of $198.33. The company has a market capitalization of $44.96 billion, a price-to-earnings ratio of 33.86, a P/E/G ratio of 3.17 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates 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 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts expect that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.58%. The ex-dividend date is Friday, December 6th. AMETEK’s dividend payout ratio (DPR) is 19.51%.

Analysts Set New Price Targets

Several research firms have recently issued reports on AME. KeyCorp boosted their target price on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Robert W. Baird upped 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. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Wolfe Research raised shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Finally, Truist Financial lifted their price objective on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AMETEK currently has a consensus rating of “Moderate Buy” and an average target price of $199.29.

Insider Activity at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now owns 23,349 shares in the company, valued at $4,006,454.91. This represents a 5.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction on 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 owns 36,731 shares in the company, valued at $7,015,253.69. This represents a 14.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,660 shares of company stock valued at $5,958,141 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

AMETEK 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.