Guinness Asset Management LTD Invests $45.76 Million in AMETEK, Inc. (NYSE:AME)

Guinness Asset Management LTD acquired a new stake in shares of AMETEK, Inc. (NYSE:AME) during the fourth quarter, Holdings Channel reports. The firm acquired 253,861 shares of the technology company’s stock, valued at approximately $45,762,000. AMETEK comprises 0.9% of Guinness Asset Management LTD’s investment portfolio, making the stock its 23rd largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AME. EdgePoint Investment Group Inc. raised its stake in shares of AMETEK by 87.9% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock worth $337,279,000 after buying an additional 918,737 shares in the last quarter. Meridiem Investment Management Ltd. acquired a new position in AMETEK during the third quarter worth about $130,579,000. Principal Financial Group Inc. lifted its holdings in AMETEK by 72.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after acquiring an additional 703,501 shares during the last quarter. D1 Capital Partners L.P. acquired a new position in shares of AMETEK in the 3rd quarter worth approximately $79,782,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of AMETEK by 434.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company’s stock worth $97,614,000 after purchasing an additional 440,197 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on AME. Truist Financial raised their target price on shares of AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a report on Thursday. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research note on Friday. BNP Paribas raised AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price on the stock in a research report on Thursday. TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Finally, KeyCorp boosted their price objective on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AMETEK has an average rating of “Moderate Buy” and a consensus price target of $203.44.

Insider Buying and Selling at AMETEK

In other AMETEK news, insider David F. Hermance sold 6,243 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the sale, the insider now directly owns 36,731 shares of the company’s stock, valued at $7,015,253.69. The trade was a 14.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Tony J. Ciampitti sold 16,210 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the transaction, the insider now owns 49,490 shares in the company, valued at $9,750,024.90. This represents a 24.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,200 shares of company stock worth $5,707,620 over the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

AMETEK Trading Down 0.1 %

NYSE:AME opened at $180.74 on Monday. The stock’s 50-day moving average is $187.17 and its two-hundred day moving average is $175.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The stock has a market cap of $41.81 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 2.51 and a beta of 1.16. AMETEK, Inc. has a fifty-two week low of $149.03 and a fifty-two week high of $198.33.

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

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. AMETEK’s payout ratio is 19.51%.

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.