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

GAMMA Investing LLC raised its stake in shares of AMETEK, Inc. (NYSE:AME) by 105.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,461 shares of the technology company’s stock after buying an additional 1,265 shares during the period. GAMMA Investing LLC’s holdings in AMETEK were worth $410,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wetzel Investment Advisors Inc. purchased a new stake in AMETEK during the fourth quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new position in AMETEK in the 4th quarter worth $26,000. Rakuten Securities Inc. bought a new stake in AMETEK during the fourth quarter valued at about $31,000. Washington Trust Advisors Inc. purchased a new stake in AMETEK in the first quarter worth about $37,000. Finally, Arlington Trust Co LLC bought a new position in shares of AMETEK in the fourth quarter worth about $42,000. 87.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AME shares. Oppenheimer raised shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a report on Wednesday, May 22nd. Robert W. Baird decreased their price objective on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada decreased their price target on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Truist Financial dropped their price objective on AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, AMETEK has a consensus rating of “Moderate Buy” and an average price target of $187.29.

Insider Activity at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,470 shares of AMETEK stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the completion of the transaction, the director now owns 26,249 shares in the company, valued at approximately $4,467,579.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Steven W. Kohlhagen sold 1,470 shares of AMETEK stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following the completion of the sale, the director now directly owns 26,249 shares in the company, valued at $4,467,579.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the sale, the director now directly owns 24,809 shares in the company, valued at approximately $4,315,029.37. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

AMETEK Price Performance

Shares of AME stock traded down $6.39 during trading hours on Friday, hitting $152.74. The stock had a trading volume of 4,082,230 shares, compared to its average volume of 1,213,603. The stock’s 50-day moving average price is $168.88 and its two-hundred day moving average price is $172.65. AMETEK, Inc. has a one year low of $136.89 and a one year high of $186.32. The stock has a market capitalization of $35.35 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 2.57 and a beta of 1.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.66.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the company posted $1.57 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. Equities analysts forecast that AMETEK, Inc. will post 6.78 EPS for the current year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, June 14th. AMETEK’s dividend payout ratio is 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.