TIAA Trust National Association Increases Stock Position in AMETEK, Inc. (NYSE:AME)

TIAA Trust National Association raised its stake in shares of AMETEK, Inc. (NYSE:AME) by 0.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 82,256 shares of the technology company’s stock after purchasing an additional 740 shares during the period. TIAA Trust National Association’s holdings in AMETEK were worth $15,045,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Spirepoint Private Client LLC bought a new position in AMETEK during the first quarter valued at $887,000. JPMorgan Chase & Co. lifted its holdings in shares of AMETEK by 48.4% in the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock valued at $1,294,121,000 after acquiring an additional 2,306,535 shares during the last quarter. CCLA Investment Management lifted its holdings in shares of AMETEK by 0.7% in the 1st quarter. CCLA Investment Management now owns 477,779 shares of the technology company’s stock valued at $87,862,000 after acquiring an additional 3,388 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in AMETEK by 21.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 273,020 shares of the technology company’s stock worth $49,935,000 after acquiring an additional 48,062 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in AMETEK by 3.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 258,677 shares of the technology company’s stock worth $47,312,000 after acquiring an additional 8,189 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AME. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Truist Financial reduced their price target on AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Robert W. Baird decreased their target price on AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Finally, Oppenheimer raised AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research report on Wednesday, May 22nd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and a consensus target price of $181.20.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the transaction, the director now owns 24,809 shares in the company, valued at approximately $4,315,029.37. The sale was disclosed in a filing with the SEC, which is available through this link. In other AMETEK news, Director Steven W. Kohlhagen sold 1,470 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following the sale, the director now directly owns 26,249 shares of the company’s stock, valued at approximately $4,467,579.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven W. Kohlhagen sold 1,440 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the completion of the transaction, the director now directly owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

AMETEK Stock Down 1.5 %

Shares of AME traded down $2.57 during mid-day trading on Friday, hitting $169.16. 886,993 shares of the company traded hands, compared to its average volume of 1,057,747. The business has a 50 day moving average of $169.26 and a 200 day moving average of $172.16. The company has a market capitalization of $39.16 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 2.72 and a beta of 1.18. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the business posted $1.49 EPS. AMETEK’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities research analysts anticipate that AMETEK, Inc. will post 6.81 EPS for the current year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Friday, June 14th. AMETEK’s payout ratio is 19.68%.

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.