Lyell Wealth Management LP Makes New $339,000 Investment in AMETEK, Inc. (NYSE:AME)

Lyell Wealth Management LP bought a new position in AMETEK, Inc. (NYSE:AME) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,054 shares of the technology company’s stock, valued at approximately $339,000.

A number of other large investors have also bought and sold shares of AME. McGlone Suttner Wealth Management Inc. bought a new position in shares of AMETEK in the fourth quarter worth $25,000. Wetzel Investment Advisors Inc. bought a new position in shares of AMETEK in the fourth quarter worth $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of AMETEK in the fourth quarter worth $26,000. Bruce G. Allen Investments LLC bought a new position in shares of AMETEK in the fourth quarter worth $28,000. Finally, Rakuten Securities Inc. bought a new position in shares of AMETEK in the fourth quarter worth $31,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

AMETEK Stock Down 0.1 %

AMETEK stock traded down $0.14 during trading hours on Thursday, hitting $178.08. 774,211 shares of the stock traded hands, compared to its average volume of 932,288. The firm’s 50-day moving average price is $179.97 and its two-hundred day moving average price is $165.07. 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 market cap of $41.17 billion, a PE ratio of 31.37, a PEG ratio of 2.87 and a beta of 1.22. AMETEK, Inc. has a one year low of $133.12 and a one year high of $186.32.

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

AMETEK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from AMETEK’s previous quarterly dividend of $0.25. This represents a $1.12 annualized dividend and a yield of 0.63%. AMETEK’s dividend payout ratio is 19.75%.

Analysts Set New Price Targets

A number of research firms have recently commented on AME. Truist Financial began coverage on AMETEK in a report on Thursday, March 14th. They issued a “buy” rating and a $210.00 price target for the company. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. Royal Bank of Canada dropped their price objective on 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 AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AMETEK presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.78.

Insider Activity at AMETEK

In related news, VP Thomas M. Montgomery sold 6,891 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $185.38, for a total value of $1,277,453.58. Following the transaction, the vice president now directly owns 21,543 shares of the company’s stock, valued at approximately $3,993,641.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AMETEK news, VP Thomas M. Montgomery sold 6,891 shares of the business’s stock in a transaction 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 completion of 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 link. Also, CFO William Joseph Burke sold 5,973 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $168.90, for a total value of $1,008,839.70. Following the completion of the transaction, the chief financial officer now directly owns 101,709 shares in the company, valued at approximately $17,178,650.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,881 shares of company stock valued at $10,689,758. 0.61% of the stock is owned by corporate insiders.

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.