AMETEK, Inc. (NYSE:AME) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in AMETEK, Inc. (NYSE:AME) by 4.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 191,970 shares of the technology company’s stock after selling 9,689 shares during the period. New York State Teachers Retirement System owned 0.08% of AMETEK worth $32,003,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in AME. &PARTNERS grew its position in shares of AMETEK by 168.2% in the second quarter. &PARTNERS now owns 3,430 shares of the technology company’s stock valued at $572,000 after purchasing an additional 2,151 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in AMETEK in the 2nd quarter valued at approximately $407,000. Fifth Third Bancorp grew its holdings in AMETEK by 4.6% during the 2nd quarter. Fifth Third Bancorp now owns 7,068 shares of the technology company’s stock valued at $1,178,000 after buying an additional 311 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its position in AMETEK by 4.8% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock worth $224,000 after buying an additional 61 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its holdings in shares of AMETEK by 2.2% in the second quarter. First Citizens Bank & Trust Co. now owns 3,834 shares of the technology company’s stock worth $639,000 after acquiring an additional 81 shares during the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on AME shares. Oppenheimer upgraded AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a research report on Wednesday, May 22nd. TD Cowen lowered their price target on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a report on Monday, August 5th. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Truist Financial cut their price target on AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.29.

Insider Activity at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,440 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the sale, the director now directly owns 24,809 shares in the company, valued at $4,315,029.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.61% of the company’s stock.

AMETEK Stock Performance

NYSE:AME opened at $167.31 on Friday. AMETEK, Inc. has a twelve month low of $136.89 and a twelve month high of $186.32. The firm has a market capitalization of $38.73 billion, a price-to-earnings ratio of 29.40, a PEG ratio of 2.57 and a beta of 1.18. The company has a current ratio of 1.26, a quick ratio of 0.66 and a debt-to-equity ratio of 0.20. The firm’s fifty day simple moving average is $166.43 and its 200 day simple moving average is $172.25.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the firm posted $1.57 earnings per share. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities research analysts expect that AMETEK, Inc. will post 6.78 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. AMETEK’s payout ratio is currently 19.68%.

AMETEK 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.