Public Employees Retirement System of Ohio Buys Shares of 80,322 AMETEK, Inc. (NYSE:AME)

Public Employees Retirement System of Ohio purchased a new position in AMETEK, Inc. (NYSE:AME - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 80,322 shares of the technology company's stock, valued at approximately $14,479,000.

Several other large investors have also recently made changes to their positions in AME. Norges Bank purchased a new stake in shares of AMETEK during the fourth quarter valued at approximately $697,080,000. Capital World Investors increased its position in 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 acquiring an additional 2,371,062 shares during the last quarter. Lazard Asset Management LLC lifted its stake 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 worth $219,030,000 after purchasing an additional 968,661 shares during the period. American Century Companies Inc. raised its position in AMETEK by 240.3% in the fourth quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company's stock worth $202,805,000 after acquiring an additional 794,473 shares during the period. Finally, Alteri Wealth LLC purchased a new position in AMETEK during the fourth quarter valued at $114,769,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,320 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $189.41, for a total transaction of $250,021.20. Following the completion of the sale, the director now owns 22,029 shares of the company's stock, valued at $4,172,512.89. The trade was a 5.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas A. Amato sold 710 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total value of $125,414.40. Following the completion of the transaction, the director now owns 10,560 shares in the company, valued at approximately $1,865,318.40. This trade represents a 6.30% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.57% of the company's stock.

AMETEK Stock Performance

NYSE:AME traded down $2.01 during trading hours on Wednesday, hitting $178.80. 941,318 shares of the company were exchanged, compared to its average volume of 1,288,432. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75. AMETEK, Inc. has a 52-week low of $145.02 and a 52-week high of $198.33. The stock has a market capitalization of $41.28 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 2.73 and a beta of 1.12. The company's 50 day moving average price is $168.74 and its 200-day moving average price is $179.65.

AMETEK (NYSE:AME - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, topping analysts' consensus estimates of $1.69 by $0.06. The firm 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 16.94% and a net margin of 19.83%. The company's revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 earnings per share. As a group, research analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK announced that its Board of Directors has initiated a share repurchase program on Friday, February 7th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the technology company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, June 13th. AMETEK's dividend payout ratio is currently 20.29%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AME shares. Truist Financial increased their price target on AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Morgan Stanley assumed coverage on AMETEK in a research report on Monday, April 14th. They set an "equal weight" rating and a $170.00 price objective on the stock. Mizuho set a $212.00 price target on shares of AMETEK in a research note on Friday, May 16th. Wall Street Zen raised AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Robert W. Baird decreased their price target on shares of AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $197.89.

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.