GAMMA Investing LLC Takes $150,000 Position in AMETEK, Inc. (NYSE:AME)

GAMMA Investing LLC bought a new stake in AMETEK, Inc. (NYSE:AME) in the fourth quarter, HoldingsChannel reports. The fund bought 928 shares of the technology company’s stock, valued at approximately $150,000.

Other large investors have also modified their holdings of the company. McGlone Suttner Wealth Management Inc. bought a new position in AMETEK during the 4th quarter worth approximately $25,000. Wetzel Investment Advisors Inc. bought a new position in AMETEK during the 4th quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new position in AMETEK during the 4th quarter worth approximately $26,000. Bruce G. Allen Investments LLC bought a new position in AMETEK during the 4th quarter worth approximately $28,000. Finally, Rakuten Securities Inc. bought a new position in AMETEK during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Truist Financial assumed coverage on AMETEK in a report on Thursday, March 14th. They set a “buy” rating and a $210.00 target price on the stock. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. KeyCorp raised their price target on AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Finally, Royal Bank of Canada cut their price target on AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $180.78.

AMETEK Stock Down 0.2 %

AME opened at $177.51 on Friday. AMETEK, Inc. has a 12 month low of $133.77 and a 12 month high of $186.32. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.98 and a quick ratio of 0.59. The stock has a market cap of $41.04 billion, a P/E ratio of 31.31, a P/E/G ratio of 2.84 and a beta of 1.22. The stock’s 50 day moving average price is $180.12 and its 200 day moving average price is $165.44.

AMETEK (NYSE:AME) last posted its earnings results on Tuesday, February 6th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.62 by $0.06. AMETEK had a return on equity of 17.96% and a net margin of 19.91%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the firm earned $1.52 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. As a group, research analysts predict that AMETEK, Inc. will post 6.82 earnings per share for the current year.

AMETEK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were given a $0.28 dividend. This is a boost from AMETEK’s previous quarterly dividend of $0.25. This represents a $1.12 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, March 7th. AMETEK’s dividend payout ratio (DPR) is currently 19.75%.

Insider Activity

In other news, CFO William Joseph Burke sold 5,973 shares of AMETEK stock in a transaction on Monday, February 12th. The stock was sold at an average price of $168.90, for a total transaction of $1,008,839.70. Following the transaction, the chief financial officer now directly owns 101,709 shares in the company, valued at approximately $17,178,650.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Steven W. Kohlhagen sold 1,400 shares of AMETEK stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $180.59, for a total transaction of $252,826.00. Following the transaction, the director now directly owns 28,054 shares in the company, valued at approximately $5,066,271.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO William Joseph Burke sold 5,973 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $168.90, for a total value of $1,008,839.70. Following the sale, the chief financial officer now directly owns 101,709 shares of the company’s stock, valued at $17,178,650.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,881 shares of company stock worth $10,689,758. 0.61% of the stock is owned by company insiders.

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.