Gateway Investment Advisers LLC Reduces Position in AMETEK, Inc. (AME)

Gateway Investment Advisers LLC lowered its stake in shares of AMETEK, Inc. (NYSE:AME) by 9.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,881 shares of the technology company’s stock after selling 1,304 shares during the quarter. Gateway Investment Advisers LLC’s holdings in AMETEK were worth $1,069,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its holdings in AMETEK by 6,587.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,702,384 shares of the technology company’s stock valued at $25,000 after buying an additional 1,676,926 shares during the period. IFP Advisors Inc increased its holdings in AMETEK by 76.4% in the 4th quarter. IFP Advisors Inc now owns 441 shares of the technology company’s stock valued at $29,000 after buying an additional 191 shares during the period. Laurel Wealth Advisors LLC bought a new stake in AMETEK in the 4th quarter valued at $32,000. SRS Capital Advisors Inc. increased its holdings in AMETEK by 183.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 749 shares of the technology company’s stock valued at $51,000 after buying an additional 485 shares during the period. Finally, Financial Gravity Companies Inc. bought a new stake in AMETEK in the 4th quarter valued at $65,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Elizebeth R. Varet sold 5,190 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $78.88, for a total value of $409,387.20. Following the sale, the director now owns 110,000 shares in the company, valued at approximately $8,676,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas C. Marecic sold 17,097 shares of the business’s stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $79.00, for a total transaction of $1,350,663.00. Following the completion of the sale, the insider now owns 42,319 shares in the company, valued at approximately $3,343,201. The disclosure for this sale can be found here. Insiders sold a total of 111,563 shares of company stock worth $8,880,480 in the last 90 days. 0.80% of the stock is owned by corporate insiders.

Shares of AMETEK stock opened at $85.91 on Wednesday. The firm has a market capitalization of $19.48 billion, a price-to-earnings ratio of 26.02, a price-to-earnings-growth ratio of 2.21 and a beta of 1.21. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.46. AMETEK, Inc. has a 52-week low of $63.14 and a 52-week high of $86.25.

AMETEK (NYSE:AME) last issued its earnings results on Tuesday, February 5th. The technology company reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.02. AMETEK had a net margin of 16.05% and a return on equity of 17.72%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the company earned $0.70 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts expect that AMETEK, Inc. will post 4.04 EPS for the current fiscal year.

AMETEK announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 13th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.56 annualized dividend and a dividend yield of 0.65%. AMETEK’s dividend payout ratio is presently 17.02%.

Several brokerages have issued reports on AME. DA Davidson boosted their price target on shares of AMETEK to $92.00 and gave the company a “buy” rating in a report on Friday, March 15th. Zacks Investment Research raised shares of AMETEK from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a report on Friday, February 8th. BMO Capital Markets reissued a “buy” rating and issued a $90.00 price target on shares of AMETEK in a report on Tuesday, January 29th. Morgan Stanley raised shares of AMETEK from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $81.00 to $85.00 in a report on Tuesday, December 18th. Finally, Stephens reissued a “buy” rating and issued a $79.00 price target on shares of AMETEK in a report on Sunday, January 6th. Twelve equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average target price of $86.80.

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About AMETEK

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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