AMETEK, Inc. (NYSE:AME) Stake Reduced by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its stake in shares of AMETEK, Inc. (NYSE:AMEFree Report) by 7.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 248,246 shares of the technology company’s stock after selling 20,961 shares during the period. New York State Common Retirement Fund’s holdings in AMETEK were worth $40,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. McGlone Suttner Wealth Management Inc. acquired a new position in AMETEK during the 4th quarter worth $25,000. Wetzel Investment Advisors Inc. acquired a new position in AMETEK during the 4th quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in AMETEK during the 4th quarter worth $26,000. Bruce G. Allen Investments LLC acquired a new position in AMETEK during the 4th quarter worth $28,000. Finally, Rakuten Securities Inc. acquired a new position in AMETEK during the 4th quarter worth $31,000. 87.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Royal Bank of Canada reduced their price target on AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Truist Financial assumed coverage on AMETEK in a research report on Thursday, March 14th. They set 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 report on Saturday, March 2nd. Finally, KeyCorp upped their price objective on AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, AMETEK presently has a consensus rating of “Moderate Buy” and an average price target of $180.78.

Read Our Latest Stock Report on AME

Insider Transactions at AMETEK

In other news, CFO William Joseph Burke sold 17,437 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $168.51, for a total transaction of $2,938,308.87. Following the sale, the chief financial officer now directly owns 101,709 shares of the company’s stock, valued at $17,138,983.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Thomas M. Montgomery sold 6,891 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the transaction, the vice president now directly owns 21,543 shares of the company’s stock, valued at $3,993,641.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO William Joseph Burke sold 17,437 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $168.51, for a total value of $2,938,308.87. Following the transaction, the chief financial officer now directly owns 101,709 shares in the company, valued at $17,138,983.59. The disclosure for this sale can be found here. Insiders have sold 59,881 shares of company stock valued at $10,689,758 over the last three months. Company insiders own 0.61% of the company’s stock.

AMETEK Trading Down 0.9 %

Shares of AMETEK stock opened at $178.25 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.98 and a debt-to-equity ratio of 0.22. The firm has a market cap of $41.21 billion, a price-to-earnings ratio of 31.44, a price-to-earnings-growth ratio of 2.87 and a beta of 1.22. The business has a fifty day simple moving average of $179.97 and a 200-day simple moving average of $165.07. AMETEK, Inc. has a fifty-two week low of $133.12 and a fifty-two week high of $186.32.

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

AMETEK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. AMETEK’s payout ratio is 19.75%.

About AMETEK

(Free Report)

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.

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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