Lyell Wealth Management LP Takes $339,000 Position in AMETEK, Inc. (NYSE:AME)

Lyell Wealth Management LP purchased a new stake in AMETEK, Inc. (NYSE:AME) in the fourth quarter, Holdings Channel reports. The firm purchased 2,054 shares of the technology company’s stock, valued at approximately $339,000.

A number of other large investors have also made changes to their positions in AME. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of AMETEK in the fourth quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. acquired a new position in AMETEK in the fourth quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in AMETEK in the fourth quarter valued at approximately $26,000. Bruce G. Allen Investments LLC acquired a new position in AMETEK in the fourth quarter valued at approximately $28,000. Finally, Rakuten Securities Inc. acquired a new position in AMETEK in the fourth quarter valued at approximately $31,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

AMETEK Stock Down 0.1 %

Shares of NYSE AME traded down $0.14 during mid-day trading on Thursday, hitting $178.08. The company had a trading volume of 774,211 shares, compared to its average volume of 932,288. The company has a market capitalization of $41.17 billion, a PE ratio of 31.37, a price-to-earnings-growth ratio of 2.87 and a beta of 1.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.98 and a quick ratio of 0.59. AMETEK, Inc. has a 1-year low of $133.12 and a 1-year high of $186.32. The business’s 50-day simple moving average is $179.97 and its 200 day simple moving average is $165.07.

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

AMETEK Increases Dividend

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

Analysts Set New Price Targets

A number of research analysts recently commented on the company. KeyCorp upped their price objective on AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a report 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 decreased their price target on AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Finally, Truist Financial initiated coverage on AMETEK in a research note on Thursday, March 14th. They set a “buy” rating and a $210.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $180.78.

Insiders Place Their Bets

In related news, CFO William Joseph Burke sold 5,973 shares of the firm’s stock in a transaction dated 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 owns 101,709 shares of the company’s stock, valued at $17,178,650.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Steven W. Kohlhagen sold 1,400 shares of the firm’s stock in a transaction dated 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 owns 28,054 shares of the company’s stock, valued at $5,066,271.86. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO William Joseph Burke sold 5,973 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $168.90, for a total transaction of $1,008,839.70. Following the completion of the sale, the chief financial officer now owns 101,709 shares of the company’s stock, valued at approximately $17,178,650.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,881 shares of company stock valued at $10,689,758. 0.61% of the stock is currently owned by 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.