AMETEK, Inc. (NYSE:AME) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System cut its stake in AMETEK, Inc. (NYSE:AMEFree Report) by 0.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,253 shares of the technology company’s stock after selling 100 shares during the quarter. State of Michigan Retirement System’s holdings in AMETEK were worth $9,346,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AME. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of AMETEK by 97,096.7% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 13,834,006 shares of the technology company’s stock worth $2,239,449,000 after acquiring an additional 13,819,773 shares during the last quarter. Norges Bank acquired a new stake in shares of AMETEK in the 4th quarter worth $509,944,000. Price T Rowe Associates Inc. MD grew its holdings in shares of AMETEK by 643.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,953,131 shares of the technology company’s stock worth $552,332,000 after purchasing an additional 3,421,558 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in shares of AMETEK by 39,681.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,827,569 shares of the technology company’s stock worth $255,348,000 after purchasing an additional 1,822,975 shares during the period. Finally, Morgan Stanley grew its holdings in shares of AMETEK by 93.2% during the 4th quarter. Morgan Stanley now owns 3,678,094 shares of the technology company’s stock worth $513,903,000 after purchasing an additional 1,774,651 shares during the period. 85.70% of the stock is owned by institutional investors and hedge funds.

AMETEK Price Performance

AME stock opened at $163.44 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 1.21. The firm has a market capitalization of $37.72 billion, a P/E ratio of 29.61, a P/E/G ratio of 2.53 and a beta of 1.21. The business’s 50-day moving average is $158.20 and its two-hundred day moving average is $155.22. AMETEK, Inc. has a 1 year low of $131.52 and a 1 year high of $165.52.

AMETEK (NYSE:AMEGet Free Report) last posted its quarterly earnings results on Tuesday, October 31st. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.06. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.66 billion. AMETEK had a return on equity of 18.19% and a net margin of 19.68%. AMETEK’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.45 EPS. Analysts anticipate that AMETEK, Inc. will post 6.33 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 22nd. Stockholders of record on Friday, December 8th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Thursday, December 7th. AMETEK’s dividend payout ratio (DPR) is presently 18.12%.

Insider Transactions at AMETEK

In other news, Director Steven W. Kohlhagen sold 810 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $155.09, for a total transaction of $125,622.90. Following the sale, the director now owns 29,454 shares of the company’s stock, valued at approximately $4,568,020.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada increased their price target on AMETEK from $183.00 to $186.00 and gave the stock an “outperform” rating in a report on Wednesday, November 1st. TD Cowen cut AMETEK from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $165.00 to $160.00 in a report on Monday, November 27th. BNP Paribas began coverage on AMETEK in a report on Thursday, October 5th. They set a “neutral” rating and a $159.00 target price for the company. Finally, StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $173.25.

View Our Latest Stock Analysis on AMETEK

AMETEK Company Profile

(Free Report)

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in North America, Europe, Asia, and South America. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.Its EMG segment offers engineered electrical connectors and electronics packaging to protect sensitive devices and mission-critical electronics; precision motion control products for data storage, medical devices, business equipment, automation, and other applications; high-purity powdered metals, strips and foils, specialty clad metals, and metal matrix composites; motor-blower systems and heat exchangers for use in thermal management, military, commercial aircraft, and military ground vehicles; and motors for use in commercial appliances, fitness equipment, food and beverage machines, hydraulic pumps, and industrial blowers.

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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