Kentucky Retirement Systems Insurance Trust Fund reduced its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 22.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,713 shares of the technology company's stock after selling 1,954 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in AMETEK were worth $1,156,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of AME. Norges Bank acquired a new stake in shares of AMETEK in the 4th quarter valued at approximately $697,080,000. Capital World Investors lifted its holdings in shares of AMETEK by 70.0% in the 4th quarter. Capital World Investors now owns 5,760,017 shares of the technology company's stock valued at $1,038,301,000 after buying an additional 2,371,062 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of AMETEK by 393.1% in the 4th quarter. Lazard Asset Management LLC now owns 1,215,087 shares of the technology company's stock valued at $219,030,000 after buying an additional 968,661 shares during the period. GAMMA Investing LLC lifted its holdings in shares of AMETEK by 18,368.3% in the 1st quarter. GAMMA Investing LLC now owns 973,280 shares of the technology company's stock valued at $167,540,000 after buying an additional 968,010 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of AMETEK by 240.3% in the 4th quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company's stock valued at $202,805,000 after buying an additional 794,473 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, Director Thomas A. Amato sold 710 shares of AMETEK stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the completion of the sale, the director now owns 10,560 shares of the company's stock, valued at $1,865,318.40. The trade was a 6.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.57% of the company's stock.
AMETEK Price Performance
Shares of NYSE AME traded up $2.06 during trading on Tuesday, reaching $179.34. The company had a trading volume of 1,519,854 shares, compared to its average volume of 1,295,278. AMETEK, Inc. has a twelve month low of $145.02 and a twelve month high of $198.33. The stock has a market capitalization of $41.41 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. The stock has a 50-day moving average price of $173.95 and a two-hundred day moving average price of $177.38. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15.
AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, beating analysts' consensus estimates of $1.69 by $0.06. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a return on equity of 16.75% and a net margin of 20.43%. The business's revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.64 earnings per share. As a group, sell-side analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current year.
AMETEK Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, June 13th. AMETEK's dividend payout ratio is currently 20.29%.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on AME shares. Mizuho set a $212.00 price objective on AMETEK in a report on Friday, May 16th. Morgan Stanley started coverage on AMETEK in a report on Monday, April 14th. They set an "equal weight" rating and a $170.00 price objective for the company. Robert W. Baird reduced their price objective on AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Truist Financial lifted their price objective on AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Finally, Wall Street Zen raised AMETEK from a "hold" rating to a "buy" rating in a report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AMETEK has an average rating of "Moderate Buy" and a consensus target price of $197.89.
Check Out Our Latest Stock Report on AME
About AMETEK
(
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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