New York State Common Retirement Fund Reduces Stock Position in AMETEK, Inc. (NYSE:AME)

New York State Common Retirement Fund lessened its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 25.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 130,425 shares of the technology company's stock after selling 43,400 shares during the quarter. New York State Common Retirement Fund owned about 0.06% of AMETEK worth $22,451,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in AMETEK by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 26,147,772 shares of the technology company's stock valued at $4,713,397,000 after purchasing an additional 282,208 shares during the last quarter. FMR LLC boosted its holdings in AMETEK by 1.1% in the 4th quarter. FMR LLC now owns 8,956,329 shares of the technology company's stock valued at $1,614,468,000 after purchasing an additional 98,546 shares during the period. Capital World Investors raised its position in shares of AMETEK by 70.0% during the fourth 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 last quarter. Geode Capital Management LLC lifted its holdings in shares of AMETEK by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 5,526,369 shares of the technology company's stock worth $993,546,000 after acquiring an additional 124,713 shares during the period. Finally, Norges Bank bought a new stake in AMETEK during the fourth quarter worth about $697,080,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AME has been the subject of a number of research analyst reports. Melius downgraded shares of AMETEK from a "buy" rating to a "hold" rating and set a $192.00 target price for the company. in a research note on Monday. Melius Research upgraded shares of AMETEK to a "hold" rating in a report on Monday. Mizuho set a $212.00 target price on shares of AMETEK in a report on Friday, May 16th. Truist Financial increased their target price on shares of AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Finally, Robert W. Baird decreased their price objective on shares of AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $197.30.

AMETEK Stock Down 0.2%

Shares of AMETEK stock traded down $0.37 during trading on Friday, reaching $179.33. 149,755 shares of the company traded hands, compared to its average volume of 1,303,979. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.41 and a quick ratio of 0.86. AMETEK, Inc. has a 1-year low of $145.02 and a 1-year high of $198.33. The company has a 50 day moving average price of $179.29 and a 200-day moving average price of $176.92. The firm has a market capitalization of $41.40 billion, a PE ratio of 29.35, a P/E/G ratio of 2.65 and a beta of 1.09.

AMETEK (NYSE:AME - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.06. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the company posted $1.64 earnings per share. The business's revenue was down .2% on a year-over-year basis. As a group, equities research analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company 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. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.24 annualized dividend and a dividend yield of 0.69%. AMETEK's dividend payout ratio is currently 20.29%.

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.