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

Guinness Asset Management LTD acquired a new stake in AMETEK, Inc. (NYSE:AME) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 253,861 shares of the technology company’s stock, valued at approximately $45,762,000. AMETEK makes up approximately 0.9% of Guinness Asset Management LTD’s investment portfolio, making the stock its 23rd largest holding. Guinness Asset Management LTD owned approximately 0.11% of AMETEK as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of AME. Oddo BHF Asset Management Sas acquired a new stake in AMETEK in the 3rd quarter valued at $3,724,000. Everence Capital Management Inc. acquired a new stake in shares of AMETEK in the fourth quarter valued at about $999,000. BNP Paribas Financial Markets raised its holdings in shares of AMETEK by 23.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 355,828 shares of the technology company’s stock valued at $61,099,000 after buying an additional 67,025 shares during the period. Sawgrass Asset Management LLC lifted its position in AMETEK by 36.5% during the 3rd quarter. Sawgrass Asset Management LLC now owns 74,757 shares of the technology company’s stock worth $12,837,000 after acquiring an additional 20,001 shares in the last quarter. Finally, Taurus Asset Management LLC boosted its holdings in AMETEK by 2.9% in the 3rd quarter. Taurus Asset Management LLC now owns 115,033 shares of the technology company’s stock worth $19,752,000 after acquiring an additional 3,210 shares during the period. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insider Activity

In other news, insider Tony J. Ciampitti sold 16,210 shares of the business’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 completion of the transaction, the insider now owns 49,490 shares of the company’s stock, valued at approximately $9,750,024.90. The trade was a 24.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David F. Hermance sold 6,243 shares of AMETEK 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 completion of the sale, the insider now owns 36,731 shares in the company, valued at approximately $7,015,253.69. This represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,200 shares of company stock valued at $5,707,620. 0.61% of the stock is currently owned by insiders.

AMETEK Price Performance

Shares of NYSE AME opened at $180.74 on Monday. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $41.81 billion, a price-to-earnings ratio of 31.49, a price-to-earnings-growth ratio of 2.51 and a beta of 1.16. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33. The business has a 50 day simple moving average of $187.17 and a 200-day simple moving average of $175.19.

AMETEK (NYSE:AME) last released its earnings results 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. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the firm earned $1.64 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities research analysts expect that AMETEK, Inc. will post 6.8 earnings per share for the current year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.28 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. AMETEK’s dividend payout ratio is currently 19.51%.

Analyst Upgrades and Downgrades

AME has been the topic of a number of analyst reports. Bank of America upgraded shares of AMETEK from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $195.00 to $225.00 in a research note on Monday, December 16th. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Friday. Robert W. Baird raised their target price on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. TD Cowen cut AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Finally, Truist Financial increased their price target on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $203.44.

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.