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

New York State Common Retirement Fund reduced its position in AMETEK, Inc. (NYSE:AME) by 18.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 184,925 shares of the technology company’s stock after selling 43,100 shares during the quarter. New York State Common Retirement Fund owned about 0.08% of AMETEK worth $31,753,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Washington Trust Advisors Inc. acquired a new stake in AMETEK during the 1st quarter worth $37,000. Family Firm Inc. acquired a new stake in shares of AMETEK during the second quarter worth $39,000. Industrial Alliance Investment Management Inc. purchased a new position in AMETEK in the 2nd quarter valued at $42,000. Headlands Technologies LLC acquired a new stake in shares of AMETEK in the 1st quarter worth $43,000. Finally, Crewe Advisors LLC boosted its holdings in shares of AMETEK by 168.8% in the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock valued at $49,000 after acquiring an additional 184 shares in the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AME has been the topic of several recent analyst reports. Robert W. Baird dropped their target price on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Truist Financial raised their target price on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada reduced their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Wolfe Research raised shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Finally, TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.00.

AMETEK Stock Performance

Shares of NYSE:AME opened at $178.43 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76. AMETEK, Inc. has a 12 month low of $141.26 and a 12 month high of $186.32. The firm has a market capitalization of $41.31 billion, a PE ratio of 31.09, a P/E/G ratio of 2.77 and a beta of 1.17. The business has a 50-day moving average of $169.17 and a two-hundred day moving average of $168.92.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the company posted $1.64 earnings per share. AMETEK’s revenue was up 5.3% compared to the same quarter last year. As a group, research analysts forecast that AMETEK, Inc. will post 6.76 earnings per share for the current year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. AMETEK’s payout ratio is currently 19.51%.

Insider Buying and Selling at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now owns 23,349 shares in the company, valued at $4,006,454.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.61% of the stock is owned by corporate insiders.

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.