State of Michigan Retirement System Purchases 100 Shares of AMETEK, Inc. (NYSE:AME)

State of Michigan Retirement System raised its holdings in AMETEK, Inc. (NYSE:AME) by 0.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,253 shares of the technology company’s stock after buying an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in AMETEK were worth $11,569,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. M&T Bank Corp increased its stake in AMETEK by 0.5% in the fourth quarter. M&T Bank Corp now owns 15,442 shares of the technology company’s stock valued at $2,547,000 after acquiring an additional 73 shares during the period. Provence Wealth Management Group raised its holdings in shares of AMETEK by 5.5% in the 4th quarter. Provence Wealth Management Group now owns 1,435 shares of the technology company’s stock worth $237,000 after buying an additional 75 shares in the last quarter. Metis Global Partners LLC lifted its position in shares of AMETEK by 0.5% during the 4th quarter. Metis Global Partners LLC now owns 15,934 shares of the technology company’s stock worth $2,627,000 after buying an additional 82 shares during the period. B. Riley Wealth Advisors Inc. boosted its stake in AMETEK by 4.6% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 1,919 shares of the technology company’s stock valued at $284,000 after buying an additional 85 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in AMETEK by 2.7% in the fourth quarter. Venturi Wealth Management LLC now owns 3,203 shares of the technology company’s stock valued at $528,000 after acquiring an additional 85 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

Analyst Upgrades and Downgrades

AME has been the topic of several recent analyst reports. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Oppenheimer raised shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a report on Wednesday, May 22nd. Robert W. Baird reduced their target price on AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Finally, Truist Financial dropped their price target on AMETEK from $210.00 to $204.00 and set a “buy” rating for the company in a report on Tuesday. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $181.20.

Insiders Place Their Bets

In related news, Director Steven W. Kohlhagen sold 1,470 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total transaction of $250,194.00. Following the completion of the transaction, the director now owns 26,249 shares in the company, valued at $4,467,579.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK 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 transaction, the director now owns 24,809 shares in the company, valued at approximately $4,315,029.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven W. Kohlhagen sold 1,470 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the sale, the director now directly owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

AMETEK Trading Up 0.3 %

Shares of NYSE AME traded up $0.53 during midday trading on Tuesday, hitting $166.10. The stock had a trading volume of 703,315 shares, compared to its average volume of 1,056,027. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66. AMETEK, Inc. has a fifty-two week low of $136.89 and a fifty-two week high of $186.32. The firm has a market cap of $38.45 billion, a P/E ratio of 29.25, a price-to-earnings-growth ratio of 2.67 and a beta of 1.18. The company’s 50-day simple moving average is $170.36 and its 200 day simple moving average is $171.75.

AMETEK (NYSE:AME) last released its earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the company posted $1.49 EPS. The company’s revenue was up 9.0% compared to the same quarter last year. Research analysts anticipate that AMETEK, Inc. will post 6.83 EPS for the current year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Friday, June 14th. AMETEK’s dividend payout ratio (DPR) 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.