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

State of Michigan Retirement System decreased its holdings in shares of AMETEK, Inc. (NYSE:AMEFree Report) by 0.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,153 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 $10,413,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AME. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of AMETEK during the fourth quarter worth $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of AMETEK during the fourth quarter worth $28,000. Covestor Ltd boosted its holdings in shares of AMETEK by 84.3% during the first quarter. Covestor Ltd now owns 212 shares of the technology company’s stock worth $28,000 after purchasing an additional 97 shares during the last quarter. Resurgent Financial Advisors LLC acquired a new position in AMETEK in the fourth quarter valued at $28,000. Finally, Quarry LP acquired a new position in AMETEK in the first quarter valued at $35,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

Analyst Ratings Changes

AME has been the topic of a number of research analyst reports. Truist Financial initiated coverage on AMETEK in a report on Thursday, March 14th. They issued a “buy” rating and a $210.00 target price on the stock. Royal Bank of Canada reduced their target price on AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. KeyCorp lifted their target price on AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Finally, StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $180.78.

Get Our Latest Stock Analysis on AMETEK

Insider Transactions at AMETEK

In other news, CFO William Joseph Burke sold 17,437 shares of AMETEK stock in a transaction dated 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 filing with the SEC, which can be accessed through this hyperlink. In related news, VP Thomas M. Montgomery sold 6,891 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $185.38, for a total value of $1,277,453.58. Following the completion of the sale, the vice president now directly owns 21,543 shares of the company’s stock, valued at $3,993,641.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO William Joseph Burke sold 17,437 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 101,709 shares of the company’s stock, valued at $17,138,983.59. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,881 shares of company stock valued at $10,689,758. 0.61% of the stock is currently owned by insiders.

AMETEK Trading Down 0.0 %

NYSE:AME opened at $180.39 on Wednesday. AMETEK, Inc. has a 12 month low of $133.12 and a 12 month high of $186.32. The firm has a market capitalization of $41.71 billion, a PE ratio of 31.81, a price-to-earnings-growth ratio of 2.92 and a beta of 1.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.98 and a quick ratio of 0.59. The business’s 50-day moving average is $175.45 and its two-hundred day moving average is $161.65.

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. AMETEK had a return on equity of 17.96% and a net margin of 19.91%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the company earned $1.52 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts predict that AMETEK, Inc. will post 6.82 earnings per share for the current fiscal year.

AMETEK Increases Dividend

The firm 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. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, March 7th. AMETEK’s payout ratio is presently 19.75%.

AMETEK Company Profile

(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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