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

New York State Common Retirement Fund reduced its position in AMETEK, Inc. (NYSE:AME) by 7.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,246 shares of the technology company’s stock after selling 20,961 shares during the quarter. New York State Common Retirement Fund owned approximately 0.11% of AMETEK worth $40,933,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AME. McGlone Suttner Wealth Management Inc. acquired a new position in shares of AMETEK during the fourth quarter worth about $25,000. Wetzel Investment Advisors Inc. acquired a new position in shares of AMETEK during the fourth quarter worth about $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of AMETEK during the fourth quarter worth about $26,000. Bruce G. Allen Investments LLC acquired a new position in shares of AMETEK during the fourth quarter worth about $28,000. Finally, Rakuten Securities Inc. acquired a new position in shares of AMETEK during the fourth quarter worth about $31,000. 87.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AMETEK

In other news, Director Thomas A. Amato sold 780 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total transaction of $141,960.00. Following the completion of the sale, the director now owns 10,240 shares in the company, valued at $1,863,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Thomas M. Montgomery sold 6,891 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 21,543 shares in the company, valued at $3,993,641.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas A. Amato sold 780 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total value of $141,960.00. Following the sale, the director now owns 10,240 shares of the company’s stock, valued at approximately $1,863,680. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,881 shares of company stock worth $10,689,758. 0.61% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AME. KeyCorp boosted their price objective on AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Royal Bank of Canada lowered their price objective 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 initiated coverage on AMETEK in a report on Thursday, March 14th. They issued a “buy” rating and a $210.00 price target for the company. Finally, StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $180.78.

AMETEK Price Performance

Shares of NYSE AME opened at $178.25 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.59 and a debt-to-equity ratio of 0.22. AMETEK, Inc. has a twelve month low of $133.12 and a twelve month high of $186.32. The stock has a 50 day moving average of $179.97 and a two-hundred day moving average of $165.07. The stock has a market cap of $41.21 billion, a P/E ratio of 31.44, a P/E/G ratio of 2.87 and a beta of 1.22.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.06. AMETEK had a return on equity of 17.96% and a net margin of 19.91%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the business earned $1.52 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, research analysts forecast that AMETEK, Inc. will post 6.82 earnings per share for the current year.

AMETEK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 8th were paid a $0.28 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. This is a boost from AMETEK’s previous quarterly dividend of $0.25. AMETEK’s payout ratio is currently 19.75%.

About AMETEK

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.