Gateway Investment Advisers LLC Purchases 296 Shares of AMETEK, Inc. (NYSE:AME)

Gateway Investment Advisers LLC boosted its position in AMETEK, Inc. (NYSE:AME) by 3.5% during the first quarter, Holdings Channel.com reports. The fund owned 8,656 shares of the technology company’s stock after acquiring an additional 296 shares during the period. Gateway Investment Advisers LLC’s holdings in AMETEK were worth $1,490,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in AME. Norges Bank bought a new stake in AMETEK in the 4th quarter worth $697,080,000. Capital World Investors boosted its stake in shares of AMETEK by 70.0% during the 4th quarter. Capital World Investors now owns 5,760,017 shares of the technology company’s stock valued at $1,038,301,000 after purchasing an additional 2,371,062 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of AMETEK by 393.1% during the 4th quarter. Lazard Asset Management LLC now owns 1,215,087 shares of the technology company’s stock valued at $219,030,000 after purchasing an additional 968,661 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of AMETEK by 18,368.3% during the 1st quarter. GAMMA Investing LLC now owns 973,280 shares of the technology company’s stock valued at $167,540,000 after purchasing an additional 968,010 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of AMETEK by 240.3% during the 4th quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company’s stock valued at $202,805,000 after purchasing an additional 794,473 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Trading Up 0.9%

NYSE:AME opened at $178.44 on Monday. AMETEK, Inc. has a one year low of $145.02 and a one year high of $198.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75. The company’s 50-day simple moving average is $169.22 and its 200 day simple moving average is $178.68. The firm has a market capitalization of $41.20 billion, a P/E ratio of 30.09, a PEG ratio of 2.73 and a beta of 1.10.

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

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.24 annualized dividend and a yield of 0.69%. AMETEK’s dividend payout ratio (DPR) is presently 20.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AME shares. Royal Bank of Canada lifted their target price on shares of AMETEK from $194.00 to $201.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Robert W. Baird cut their target price on shares of AMETEK from $197.00 to $190.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Morgan Stanley started coverage on shares of AMETEK in a research note on Monday, April 14th. They set an “equal weight” rating and a $170.00 target price on the stock. Truist Financial lifted their target price on shares of AMETEK from $196.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Finally, Mizuho set a $212.00 target price on shares of AMETEK in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $197.89.

Insiders Place Their Bets

In other AMETEK news, Director Thomas A. Amato sold 710 shares of AMETEK stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $176.64, for a total value of $125,414.40. Following the completion of the transaction, the director now directly owns 10,560 shares of the company’s stock, valued at approximately $1,865,318.40. The trade was a 6.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.57% of the company’s stock.

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.