Delta Investment Management LLC Decreases Position in AMETEK, Inc. (NYSE:AME)

Delta Investment Management LLC decreased its holdings in shares of AMETEK, Inc. (NYSE:AME) by 53.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,642 shares of the technology company’s stock after selling 1,903 shares during the quarter. Delta Investment Management LLC’s holdings in AMETEK were worth $271,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Private Trust Co. NA lifted its stake in AMETEK by 78.6% in the third quarter. Private Trust Co. NA now owns 1,363 shares of the technology company’s stock valued at $201,000 after buying an additional 600 shares during the last quarter. Czech National Bank lifted its stake in AMETEK by 47.8% in the third quarter. Czech National Bank now owns 40,324 shares of the technology company’s stock valued at $5,958,000 after buying an additional 13,041 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in AMETEK by 1.1% in the third quarter. Asset Management One Co. Ltd. now owns 110,102 shares of the technology company’s stock valued at $16,269,000 after buying an additional 1,205 shares during the last quarter. Wendell David Associates Inc. purchased a new stake in AMETEK in the third quarter valued at approximately $244,000. Finally, Commonwealth Equity Services LLC lifted its stake in AMETEK by 1.6% in the third quarter. Commonwealth Equity Services LLC now owns 15,965 shares of the technology company’s stock valued at $2,359,000 after buying an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insider Activity at AMETEK

In related news, CFO William Joseph Burke sold 27,400 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $185.05, for a total transaction of $5,070,370.00. Following the sale, the chief financial officer now owns 106,512 shares of the company’s stock, valued at $19,710,045.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO William Joseph Burke sold 27,400 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $185.05, for a total transaction of $5,070,370.00. Following the sale, the chief financial officer now owns 106,512 shares of the company’s stock, valued at $19,710,045.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas A. Amato sold 780 shares of the stock in a transaction on 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 directly owns 10,240 shares in the company, valued at approximately $1,863,680. The disclosure for this sale can be found here. Insiders have sold a total of 59,881 shares of company stock valued at $10,689,758 over the last quarter. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. KeyCorp boosted their price objective on AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. Royal Bank of Canada cut their price target on AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Finally, Truist Financial started coverage on AMETEK in a research note on Thursday, March 14th. They set a “buy” rating and a $210.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AMETEK presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.78.

AMETEK Price Performance

AMETEK stock traded down $0.42 during trading hours on Friday, hitting $177.51. The stock had a trading volume of 637,924 shares, compared to its average volume of 788,079. 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 capitalization of $41.04 billion, a price-to-earnings ratio of 31.30, a PEG ratio of 2.84 and a beta of 1.22. AMETEK, Inc. has a 1-year low of $133.77 and a 1-year high of $186.32. The stock’s fifty day moving average is $180.12 and its two-hundred day moving average is $165.34.

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

AMETEK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. AMETEK’s dividend payout ratio (DPR) is presently 19.75%.

AMETEK Company 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.