GAMMA Investing LLC Increases Position in AMETEK, Inc. (NYSE:AME)

GAMMA Investing LLC increased its stake in shares of AMETEK, Inc. (NYSE:AME) by 28.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,196 shares of the technology company’s stock after purchasing an additional 268 shares during the quarter. GAMMA Investing LLC’s holdings in AMETEK were worth $219,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AME. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of AMETEK during the fourth quarter valued at about $25,000. Wetzel Investment Advisors Inc. purchased a new stake in AMETEK during the fourth quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in AMETEK in the fourth quarter valued at approximately $26,000. Bruce G. Allen Investments LLC purchased a new position in AMETEK in the fourth quarter worth $28,000. Finally, Rakuten Securities Inc. acquired a new position in shares of AMETEK during the fourth quarter worth $31,000. Institutional investors own 87.43% of the company’s stock.

Analyst Upgrades and Downgrades

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

AMETEK Stock Down 1.4 %

AME stock opened at $168.52 on Friday. The company has a market capitalization of $39.01 billion, a P/E ratio of 29.62, a price-to-earnings-growth ratio of 2.74 and a beta of 1.20. AMETEK, Inc. has a 12 month low of $136.89 and a 12 month high of $186.32. The firm’s fifty day simple moving average is $171.86 and its 200-day simple moving average is $171.12. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66.

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

AMETEK Announces Dividend

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

Insider Buying and Selling at AMETEK

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

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.