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

Tributary Capital Management LLC trimmed its holdings in shares of AMETEK, Inc. (NYSE:AME) by 4.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,980 shares of the technology company’s stock after selling 195 shares during the quarter. Tributary Capital Management LLC’s holdings in AMETEK were worth $683,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of AME. JPMorgan Chase & Co. increased its position in shares of AMETEK by 48.4% during the first quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock worth $1,294,121,000 after acquiring an additional 2,306,535 shares during the last quarter. Bank of New York Mellon Corp grew its stake in AMETEK by 34.6% in the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock worth $600,615,000 after purchasing an additional 926,657 shares in the last quarter. Meridiem Investment Management Ltd. acquired a new position in AMETEK in the third quarter worth about $130,579,000. Principal Financial Group Inc. grew its stake in AMETEK by 256.3% in the second quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company’s stock worth $162,844,000 after purchasing an additional 702,674 shares in the last quarter. Finally, James Hambro & Partners LLP acquired a new position in AMETEK in the third quarter worth about $60,188,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

AMETEK Price Performance

Shares of NYSE:AME opened at $166.96 on Monday. The company’s fifty day moving average is $168.41 and its two-hundred day moving average is $169.07. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. AMETEK, Inc. has a 12-month low of $136.89 and a 12-month high of $186.32. The company has a market cap of $38.65 billion, a P/E ratio of 29.34, a price-to-earnings-growth ratio of 2.77 and a beta of 1.17.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. AMETEK’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.57 earnings per share. Equities analysts expect that AMETEK, Inc. will post 6.76 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.67%. The ex-dividend date was Monday, September 16th. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

Analysts Set New Price Targets

A number of research firms recently commented on AME. Robert W. Baird decreased their price target on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. TD Cowen downgraded AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Mizuho lifted their target price on AMETEK from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Truist Financial boosted their price objective on AMETEK from $201.00 to $219.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada reduced their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, AMETEK currently has an average rating of “Moderate Buy” and an average target price of $193.29.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the transaction, the director now owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.61% of the company’s stock.

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.