Tributary Capital Management LLC Cuts Stock Position in AMETEK, Inc. (NYSE:AME)

Tributary Capital Management LLC lessened its holdings in AMETEK, Inc. (NYSE:AME) by 24.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,995 shares of the technology company’s stock after selling 985 shares during the period. Tributary Capital Management LLC’s holdings in AMETEK were worth $540,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AME. Oddo BHF Asset Management Sas acquired a new stake in AMETEK during the 3rd quarter valued at $3,724,000. Everence Capital Management Inc. acquired a new stake in AMETEK during the 4th quarter valued at $999,000. BNP Paribas Financial Markets grew its holdings in AMETEK by 23.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 355,828 shares of the technology company’s stock valued at $61,099,000 after purchasing an additional 67,025 shares in the last quarter. Taurus Asset Management LLC grew its holdings in AMETEK by 2.9% during the 3rd quarter. Taurus Asset Management LLC now owns 115,033 shares of the technology company’s stock valued at $19,752,000 after purchasing an additional 3,210 shares in the last quarter. Finally, Sawgrass Asset Management LLC grew its holdings in AMETEK by 36.5% during the 3rd quarter. Sawgrass Asset Management LLC now owns 74,757 shares of the technology company’s stock valued at $12,837,000 after purchasing an additional 20,001 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insider Activity at AMETEK

In related news, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.99, for a total value of $1,192,350.57. Following the sale, the insider now directly owns 36,731 shares in the company, valued at $7,015,253.69. This trade represents a 14.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Emanuela Speranza sold 6,747 shares of AMETEK stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the completion of the sale, the insider now owns 30,460 shares in the company, valued at approximately $5,967,114. This represents a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,200 shares of company stock worth $5,707,620 in the last ninety days. 0.61% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AME has been the subject of a number of recent analyst reports. BNP Paribas raised shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target for the company in a report on Thursday, January 16th. Mizuho raised their price objective on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Truist Financial raised their price objective on shares of AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Bank of America raised shares of AMETEK from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $195.00 to $225.00 in a report on Monday, December 16th. Finally, KeyCorp raised their price objective on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $203.44.

AMETEK Trading Down 1.3 %

NYSE AME opened at $187.91 on Friday. AMETEK, Inc. has a one year low of $149.03 and a one year high of $198.33. The company has a 50-day simple moving average of $186.47 and a 200-day simple moving average of $175.84. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. The firm has a market capitalization of $43.47 billion, a PE ratio of 32.74, a price-to-earnings-growth ratio of 2.73 and a beta of 1.16.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.64 EPS. On average, equities analysts forecast that AMETEK, Inc. will post 6.8 earnings per share for the current year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.12 annualized dividend and a yield of 0.60%. AMETEK’s dividend payout ratio is presently 19.51%.

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.