Kentucky Retirement Systems Purchases 5,743 Shares of AMETEK, Inc. $AME

Key Points

• Kentucky Retirement Systems increased its AMETEK stake by 39.7% in the first quarter, purchasing 5,743 additional shares and bringing its holdings to 20,207 shares valued at approximately $4.33 million.
• Institutional ownership remains high at 87.43%, while analysts maintain a “Moderate Buy” consensus with an average price target of $256.29; Truist recently raised its target to $303.
• AMETEK exceeded quarterly expectations with $1.97 in EPS and $1.93 billion in revenue, up 11.3% year over year. The company also declared a quarterly dividend of $0.34 per share, representing a 0.6% annualized yield.

Kentucky Retirement Systems boosted its position in AMETEK, Inc. (NYSE:AME - Free Report) by 39.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,207 shares of the technology company's stock after purchasing an additional 5,743 shares during the period. Kentucky Retirement Systems' holdings in AMETEK were worth $4,332,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Y.D. More Investments Ltd purchased a new stake in shares of AMETEK in the 4th quarter valued at $1,653,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in AMETEK by 6.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 487,238 shares of the technology company's stock valued at $101,901,000 after acquiring an additional 28,621 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in AMETEK in the 4th quarter valued at about $1,027,000. Massachusetts Financial Services Co. MA increased its stake in AMETEK by 10.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 959,937 shares of the technology company's stock worth $197,085,000 after purchasing an additional 94,544 shares during the period. Finally, Factory Mutual Insurance Co. increased its stake in AMETEK by 6.6% during the fourth quarter. Factory Mutual Insurance Co. now owns 215,100 shares of the technology company's stock worth $44,162,000 after purchasing an additional 13,300 shares during the period. 87.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on AME. Rothschild & Co Redburn set a $265.00 price objective on shares of AMETEK in a research note on Thursday, June 18th. Truist Financial upped their target price on shares of AMETEK from $275.00 to $303.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Weiss Ratings lowered shares of AMETEK from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday. Wall Street Zen cut shares of AMETEK from a "buy" rating to a "hold" rating in a research report on Sunday, May 10th. Finally, Robert W. Baird set a $244.00 price target on shares of AMETEK in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $256.29.

AMETEK Stock Performance

Shares of AME opened at $239.93 on Friday. The stock has a 50-day simple moving average of $233.22 and a 200-day simple moving average of $228.42. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.72 and a current ratio of 1.14. The stock has a market capitalization of $54.99 billion, a PE ratio of 36.24, a PEG ratio of 3.30 and a beta of 0.99. AMETEK, Inc. has a 1 year low of $179.24 and a 1 year high of $244.71.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $1.97 EPS for the quarter, topping analysts' consensus estimates of $1.90 by $0.07. AMETEK had a return on equity of 16.63% and a net margin of 20.11%.The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the company posted $1.75 earnings per share. The business's revenue for the quarter was up 11.3% on a year-over-year basis. On average, analysts predict that AMETEK, Inc. will post 8.14 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.34 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.6%. AMETEK's payout ratio is currently 20.54%.

AMETEK Profile

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.

The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.