Maryland State Retirement & Pension System Has $1.86 Million Stock Position in AMETEK, Inc. (NYSE:AME)

Key Points

• The Maryland State Retirement & Pension System reduced its stake in AMETEK, Inc. by 12.5%, owning 10,792 shares worth approximately $1.86 million after selling 1,535 shares.
• Analysts raised their price targets for AMETEK, with Mizuho increasing it from $212.00 to $225.00, indicating a positive outlook for the stock.
• AMETEK has announced a quarterly dividend of $0.31 per share, which will be paid on September 30th, representing a 0.7% dividend yield.

Maryland State Retirement & Pension System decreased its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 12.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,792 shares of the technology company's stock after selling 1,535 shares during the quarter. Maryland State Retirement & Pension System's holdings in AMETEK were worth $1,858,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Olde Wealth Management LLC acquired a new stake in shares of AMETEK in the 1st quarter valued at approximately $29,000. Annis Gardner Whiting Capital Advisors LLC increased its position in AMETEK by 57.7% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 194 shares of the technology company's stock worth $33,000 after buying an additional 71 shares in the last quarter. Banque Transatlantique SA purchased a new stake in shares of AMETEK in the fourth quarter valued at $37,000. Minot DeBlois Advisors LLC acquired a new position in AMETEK in the fourth quarter valued at $43,000. Finally, Costello Asset Management INC acquired a new position in AMETEK in the first quarter valued at $43,000. Hedge funds and other institutional investors own 87.43% of the company's stock.

AMETEK Price Performance

AME traded down $2.40 during trading on Thursday, reaching $184.52. The stock had a trading volume of 414,116 shares, compared to its average volume of 1,376,978. The firm has a market capitalization of $42.61 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 2.67 and a beta of 1.10. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a 1-year low of $145.02 and a 1-year high of $198.33. The stock has a 50 day moving average of $180.36 and a two-hundred day moving average of $177.00.

AMETEK (NYSE:AME - Get Free Report) last released its earnings results on Thursday, July 31st. The technology company reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.69 by $0.09. AMETEK had a return on equity of 16.53% and a net margin of 20.60%. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the business earned $1.66 earnings per share. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.24 annualized dividend and a dividend yield of 0.7%. AMETEK's dividend payout ratio (DPR) is currently 19.97%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AME shares. Morgan Stanley lifted their target price on AMETEK from $185.00 to $198.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Melius Research upgraded AMETEK to a "hold" rating in a research note on Monday, July 14th. Royal Bank Of Canada boosted their price target on AMETEK from $209.00 to $212.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Melius cut AMETEK from a "buy" rating to a "hold" rating and set a $192.00 price target on the stock. in a research note on Monday, July 14th. Finally, Wall Street Zen upgraded AMETEK from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, AMETEK has an average rating of "Moderate Buy" and an average price target of $208.00.

AMETEK Company Profile

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.