New York State Teachers Retirement System decreased its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 165,474 shares of the technology company's stock after selling 8,903 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of AMETEK worth $28,485,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of AME. Banque Transatlantique SA acquired a new stake in shares of AMETEK in the fourth quarter valued at about $37,000. OFI Invest Asset Management acquired a new stake in shares of AMETEK in the fourth quarter valued at about $43,000. Minot DeBlois Advisors LLC acquired a new position in AMETEK during the fourth quarter worth about $43,000. Golden State Wealth Management LLC boosted its position in AMETEK by 201.0% during the first quarter. Golden State Wealth Management LLC now owns 295 shares of the technology company's stock worth $51,000 after acquiring an additional 197 shares during the last quarter. Finally, Ancora Advisors LLC boosted its position in AMETEK by 15,950.0% during the fourth quarter. Ancora Advisors LLC now owns 321 shares of the technology company's stock worth $58,000 after acquiring an additional 319 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company's stock.
Analyst Upgrades and Downgrades
AME has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Royal Bank Of Canada boosted their price target on shares of AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Truist Financial lifted their target price on shares of AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Robert W. Baird reduced their target price on shares of AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Finally, Morgan Stanley started coverage on shares of AMETEK in a research note on Monday, April 14th. They set an "equal weight" rating and a $170.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $197.89.
View Our Latest Report on AME
AMETEK Trading Up 1.2%
Shares of AMETEK stock traded up $2.20 on Friday, reaching $184.19. The company had a trading volume of 719,336 shares, compared to its average volume of 1,303,844. The firm's 50 day moving average price is $177.30 and its two-hundred day moving average price is $177.08. The firm has a market cap of $42.53 billion, a PE ratio of 30.15, a PEG ratio of 2.76 and a beta of 1.09. AMETEK, Inc. has a 52-week low of $145.02 and a 52-week high of $198.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.41.
AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.75 earnings per share for the quarter, beating analysts' consensus estimates of $1.69 by $0.06. The firm had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.74 billion. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. The business's quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.64 earnings per share. Sell-side analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.
AMETEK Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Friday, June 13th. AMETEK's payout ratio is 20.29%.
AMETEK Company Profile
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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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