AMETEK, Inc. (NYSE:AME) Stake Decreased by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund reduced its holdings in AMETEK, Inc. (NYSE:AME) by 8.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,855 shares of the technology company’s stock after selling 611 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in AMETEK were worth $1,177,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in shares of AMETEK by 34.6% in the 2nd 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 shares of AMETEK in the 3rd quarter worth $130,579,000. Principal Financial Group Inc. raised its position in shares of AMETEK by 72.0% during the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock worth $288,526,000 after purchasing an additional 703,501 shares during the period. James Hambro & Partners LLP acquired a new position in shares of AMETEK in the 3rd quarter valued at $60,188,000. Finally, Ceredex Value Advisors LLC purchased a new position in AMETEK in the 3rd quarter worth about $40,811,000. Institutional investors own 87.43% of the company’s stock.

Insider Buying and Selling

In other AMETEK news, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the transaction, the insider now owns 36,731 shares in the company, valued at $7,015,253.69. The trade was a 14.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the transaction, the director now directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This trade represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

AMETEK Price Performance

AME stock opened at $193.10 on Monday. The stock has a 50-day moving average price of $173.59 and a two-hundred day moving average price of $169.76. The stock has a market cap of $44.67 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 3.15 and a beta of 1.16. AMETEK, Inc. has a 1 year low of $149.03 and a 1 year high of $196.70. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.64 EPS. Equities analysts forecast that AMETEK, Inc. will post 6.81 EPS for the current fiscal year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Friday, December 6th. AMETEK’s payout ratio is presently 19.51%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Royal Bank of Canada decreased their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Robert W. Baird lifted their price target on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Truist Financial upped their target price on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. TD Cowen cut shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Finally, Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $197.86.

AMETEK 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.