Delta Investment Management LLC Has $271,000 Position in AMETEK, Inc. (NYSE:AME)

Delta Investment Management LLC lowered its stake in shares of AMETEK, Inc. (NYSE:AME) by 53.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,642 shares of the technology company’s stock after selling 1,903 shares during the period. Delta Investment Management LLC’s holdings in AMETEK were worth $271,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Mountain Pacific Investment Advisers Inc. ID boosted its stake in shares of AMETEK by 0.3% during the 4th quarter. Mountain Pacific Investment Advisers Inc. ID now owns 488,231 shares of the technology company’s stock valued at $80,504,000 after buying an additional 1,431 shares during the period. Truist Financial Corp boosted its stake in shares of AMETEK by 2.4% during the 4th quarter. Truist Financial Corp now owns 53,871 shares of the technology company’s stock valued at $8,883,000 after buying an additional 1,252 shares during the period. Bryn Mawr Capital Management LLC acquired a new stake in shares of AMETEK during the 4th quarter valued at $757,000. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of AMETEK by 4,845.8% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 677,075 shares of the technology company’s stock valued at $111,643,000 after buying an additional 663,385 shares during the period. Finally, Syon Capital LLC lifted its stake in shares of AMETEK by 26.5% in the 4th quarter. Syon Capital LLC now owns 2,452 shares of the technology company’s stock valued at $404,000 after purchasing an additional 513 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Stock Performance

AME traded down $0.42 during trading on Friday, hitting $177.51. The stock had a trading volume of 637,924 shares, compared to its average volume of 788,079. The firm has a market cap of $41.04 billion, a PE ratio of 31.30, a P/E/G ratio of 2.84 and a beta of 1.22. AMETEK, Inc. has a 12 month low of $133.77 and a 12 month high of $186.32. The company has a current ratio of 0.98, a quick ratio of 0.59 and a debt-to-equity ratio of 0.22. The company has a 50 day simple moving average of $180.12 and a 200-day simple moving average of $165.34.

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

AMETEK Increases Dividend

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

Analyst Upgrades and Downgrades

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

Insider Transactions at AMETEK

In other news, VP Thomas M. Montgomery sold 6,891 shares of AMETEK stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the sale, the vice president now directly owns 21,543 shares in the company, valued at approximately $3,993,641.34. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Thomas M. Montgomery sold 6,891 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the transaction, the vice president now directly owns 21,543 shares in the company, valued at $3,993,641.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven W. Kohlhagen sold 1,400 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $5,066,271.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,881 shares of company stock worth $10,689,758. 0.61% of the stock is currently owned by company 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.