Assenagon Asset Management S.A. Raises Stake in AMETEK, Inc. (NYSE:AME)

Assenagon Asset Management S.A. grew its holdings in shares of AMETEK, Inc. (NYSE:AME) by 434.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 541,517 shares of the technology company’s stock after acquiring an additional 440,197 shares during the quarter. Assenagon Asset Management S.A. owned 0.23% of AMETEK worth $97,614,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Hutchens & Kramer Investment Management Group LLC increased its stake in shares of AMETEK by 3.8% in the 3rd quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,764 shares of the technology company’s stock worth $298,000 after acquiring an additional 65 shares in the last quarter. Miracle Mile Advisors LLC increased its stake in shares of AMETEK by 0.9% during the third quarter. Miracle Mile Advisors LLC now owns 7,178 shares of the technology company’s stock valued at $1,233,000 after purchasing an additional 66 shares in the last quarter. EP Wealth Advisors LLC increased its stake in shares of AMETEK by 1.1% during the second quarter. EP Wealth Advisors LLC now owns 6,330 shares of the technology company’s stock valued at $1,055,000 after purchasing an additional 71 shares in the last quarter. Wallace Advisory Group LLC boosted its position in shares of AMETEK by 5.8% in the 4th quarter. Wallace Advisory Group LLC now owns 1,371 shares of the technology company’s stock worth $235,000 after purchasing an additional 75 shares in the last quarter. Finally, Itau Unibanco Holding S.A. grew its stake in shares of AMETEK by 62.6% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock worth $34,000 after buying an additional 77 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider David F. Hermance sold 6,243 shares of the firm’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 transaction, the insider now owns 36,731 shares of the company’s stock, valued at approximately $7,015,253.69. This trade represents a 14.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Tony J. Ciampitti sold 16,210 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 49,490 shares of the company’s stock, valued at $9,750,024.90. This trade represents a 24.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,200 shares of company stock valued at $5,707,620. Insiders own 0.61% of the company’s stock.

AMETEK Stock Performance

Shares of AME stock opened at $179.12 on Wednesday. The firm has a market capitalization of $41.43 billion, a PE ratio of 31.21, a P/E/G ratio of 3.08 and a beta of 1.16. The company has a 50 day moving average price of $187.75 and a 200-day moving average price of $174.94. 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 posted its 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 firm’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.64 EPS. 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 company 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. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Friday, December 6th. AMETEK’s dividend payout ratio is 19.51%.

Analyst Ratings Changes

AME has been the subject of a number of recent research reports. StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. KeyCorp increased their price objective on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Bank of America upgraded shares of AMETEK from a “neutral” rating to a “buy” rating and raised their price objective for the company from $195.00 to $225.00 in a research note on Monday, December 16th. Finally, Truist Financial upped their target price on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $202.50.

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.