GAMMA Investing LLC Boosts Stake in AMETEK, Inc. (NYSE:AME)

GAMMA Investing LLC increased its position in shares of AMETEK, Inc. (NYSE:AME) by 28.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 1,196 shares of the technology company’s stock after buying an additional 268 shares during the quarter. GAMMA Investing LLC’s holdings in AMETEK were worth $219,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. M&T Bank Corp grew its position in shares of AMETEK by 0.5% during the fourth quarter. M&T Bank Corp now owns 15,442 shares of the technology company’s stock worth $2,547,000 after acquiring an additional 73 shares during the last quarter. Provence Wealth Management Group increased its stake in AMETEK by 5.5% in the fourth quarter. Provence Wealth Management Group now owns 1,435 shares of the technology company’s stock valued at $237,000 after purchasing an additional 75 shares during the period. Metis Global Partners LLC raised its holdings in shares of AMETEK by 0.5% in the fourth quarter. Metis Global Partners LLC now owns 15,934 shares of the technology company’s stock valued at $2,627,000 after buying an additional 82 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of AMETEK by 4.6% during the third quarter. B. Riley Wealth Advisors Inc. now owns 1,919 shares of the technology company’s stock worth $284,000 after buying an additional 85 shares during the period. Finally, Venturi Wealth Management LLC grew its holdings in shares of AMETEK by 2.7% during the fourth quarter. Venturi Wealth Management LLC now owns 3,203 shares of the technology company’s stock worth $528,000 after buying an additional 85 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Activity at AMETEK

In other AMETEK news, Director Thomas A. Amato sold 780 shares of AMETEK stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total transaction of $141,960.00. Following the completion of the transaction, the director now owns 10,240 shares in the company, valued at $1,863,680. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the sale, the director now owns 24,809 shares in the company, valued at approximately $4,315,029.37. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas A. Amato sold 780 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total transaction of $141,960.00. Following the sale, the director now directly owns 10,240 shares in the company, valued at $1,863,680. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,690 shares of company stock valued at $642,613. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on AME. Robert W. Baird decreased their price objective on AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday. Oppenheimer raised shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research note on Wednesday, May 22nd. Truist Financial assumed coverage on shares of AMETEK in a research note on Thursday, March 14th. They issued a “buy” rating and a $210.00 target price for the company. Finally, KeyCorp boosted their price target on shares of AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $181.80.

AMETEK Trading Down 1.4 %

Shares of AMETEK stock opened at $168.52 on Friday. The company has a 50-day moving average of $171.86 and a two-hundred day moving average of $171.12. The stock has a market cap of $39.01 billion, a PE ratio of 29.62, a price-to-earnings-growth ratio of 2.74 and a beta of 1.20. The company has a current ratio of 1.11, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. AMETEK, Inc. has a 12-month low of $136.89 and a 12-month high of $186.32.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.05. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. AMETEK’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the business posted $1.49 EPS. On average, research analysts anticipate that AMETEK, Inc. will post 6.83 EPS for the current fiscal year.

AMETEK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. AMETEK’s dividend payout ratio is presently 19.68%.

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.