GAMMA Investing LLC Has $167.54 Million Stock Holdings in AMETEK, Inc. (NYSE:AME)

GAMMA Investing LLC grew its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 18,368.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 973,280 shares of the technology company's stock after buying an additional 968,010 shares during the period. GAMMA Investing LLC owned 0.42% of AMETEK worth $167,540,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Banque Transatlantique SA acquired a new stake in AMETEK in the 4th quarter valued at approximately $37,000. Geneos Wealth Management Inc. grew its stake in shares of AMETEK by 42.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company's stock worth $42,000 after purchasing an additional 70 shares in the last quarter. Minot DeBlois Advisors LLC acquired a new position in shares of AMETEK during the fourth quarter valued at $43,000. OFI Invest Asset Management acquired a new position in shares of AMETEK during the fourth quarter valued at $43,000. Finally, Quent Capital LLC raised its stake in shares of AMETEK by 60.9% during the fourth quarter. Quent Capital LLC now owns 251 shares of the technology company's stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. Institutional investors own 87.43% of the company's stock.

AMETEK Price Performance

Shares of AME traded up $0.17 during trading hours on Wednesday, hitting $177.88. 587,029 shares of the company were exchanged, compared to its average volume of 1,380,282. The firm has a fifty day simple moving average of $168.86 and a 200-day simple moving average of $179.12. The company has a market capitalization of $41.07 billion, a PE ratio of 30.00, a PEG ratio of 2.73 and a beta of 1.12. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75. AMETEK, Inc. has a one year low of $145.02 and a one year high of $198.33.

AMETEK (NYSE:AME - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.06. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The business's revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.64 EPS. As a group, sell-side analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK announced that its Board of Directors has approved a share buyback program on Friday, February 7th that allows the company to buyback $1.25 billion in shares. This buyback authorization allows the technology company to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Friday, June 13th. AMETEK's payout ratio is 20.29%.

Insider Buying and Selling at AMETEK

In other news, Director Thomas A. Amato sold 710 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the completion of the sale, the director now owns 10,560 shares of the company's stock, valued at $1,865,318.40. This trade represents a 6.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.57% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AME shares. Mizuho set a $212.00 target price on shares of AMETEK in a research note on Friday, May 16th. Truist Financial increased their price objective on shares of AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a report on Monday, May 5th. Royal Bank of Canada boosted their target price on AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Morgan Stanley began coverage on AMETEK in a research note on Monday, April 14th. They set an "equal weight" rating and a $170.00 price target for the company. Finally, Robert W. Baird lowered their price target on AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AMETEK currently has an average rating of "Moderate Buy" and a consensus target price of $197.89.

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.