Gateway Investment Advisers LLC Sells 1,969 Shares of AMETEK, Inc. (NYSE:AME)

Gateway Investment Advisers LLC lowered its stake in shares of AMETEK, Inc. (NYSE:AME) by 17.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,120 shares of the technology company’s stock after selling 1,969 shares during the period. Gateway Investment Advisers LLC’s holdings in AMETEK were worth $1,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of AME. JPMorgan Chase & Co. increased its holdings in AMETEK by 48.4% in the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock valued at $1,294,121,000 after acquiring an additional 2,306,535 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in AMETEK by 34.6% during the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after buying an additional 926,657 shares during the last quarter. Principal Financial Group Inc. grew its holdings in AMETEK by 256.3% during the 2nd quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company’s stock valued at $162,844,000 after buying an additional 702,674 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of AMETEK during the 1st quarter worth approximately $46,343,000. Finally, Sei Investments Co. boosted its position in shares of AMETEK by 133.3% during the 1st quarter. Sei Investments Co. now owns 394,881 shares of the technology company’s stock valued at $72,223,000 after acquiring an additional 225,600 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Stock Up 0.9 %

NYSE:AME opened at $170.39 on Friday. The company has a market cap of $39.45 billion, a price-to-earnings ratio of 29.68, a price-to-earnings-growth ratio of 2.77 and a beta of 1.17. AMETEK, Inc. has a twelve month low of $136.89 and a twelve month high of $186.32. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $166.58 and a 200-day simple moving average of $170.04.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.57 EPS. Analysts anticipate that AMETEK, Inc. will post 6.76 EPS for the current year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.28 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. AMETEK’s payout ratio is presently 19.51%.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

AME has been the topic of a number of recent research reports. Wolfe Research raised shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Truist Financial lifted their price target on AMETEK from $201.00 to $219.00 and gave the stock a “buy” rating in a research report on Wednesday. Robert W. Baird lowered their price objective on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AMETEK presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.83.

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.