Public Sector Pension Investment Board Has $1.50 Million Position in AMETEK, Inc. (NYSE:AME)

Public Sector Pension Investment Board increased its holdings in AMETEK, Inc. (NYSE:AME) by 75.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,967 shares of the technology company’s stock after purchasing an additional 3,849 shares during the period. Public Sector Pension Investment Board’s holdings in AMETEK were worth $1,495,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Nippon Life Global Investors Americas Inc. raised its holdings in shares of AMETEK by 3.7% in the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 7,850 shares of the technology company’s stock worth $1,309,000 after buying an additional 280 shares in the last quarter. Fidelis Capital Partners LLC grew its position in AMETEK by 12.5% in the second quarter. Fidelis Capital Partners LLC now owns 1,629 shares of the technology company’s stock valued at $255,000 after acquiring an additional 181 shares during the period. Epoch Investment Partners Inc. raised its stake in AMETEK by 20.2% during the second quarter. Epoch Investment Partners Inc. now owns 228,973 shares of the technology company’s stock worth $38,172,000 after acquiring an additional 38,503 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of AMETEK by 23.0% during the second quarter. 1832 Asset Management L.P. now owns 18,539 shares of the technology company’s stock valued at $3,091,000 after acquiring an additional 3,468 shares during the period. Finally, Frank Rimerman Advisors LLC boosted its stake in shares of AMETEK by 8,009.7% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 2,514 shares of the technology company’s stock valued at $419,000 after purchasing an additional 2,483 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AME. Robert W. Baird dropped their target price on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. TD Cowen cut their target price on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Wolfe Research upgraded AMETEK to a “hold” rating in a research report on Wednesday, September 18th. Truist Financial cut their price objective on AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $186.29.

AMETEK Stock Down 0.2 %

NYSE:AME opened at $171.69 on Tuesday. The company has a market cap of $39.74 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 2.81 and a beta of 1.17. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26. The stock’s fifty day moving average price is $166.41 and its two-hundred day moving average price is $170.84. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.02. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the business earned $1.57 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, analysts anticipate that AMETEK, Inc. will post 6.77 EPS for the current year.

AMETEK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.28 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. AMETEK’s payout ratio is presently 19.68%.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

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.