New York State Common Retirement Fund Decreases Stock Holdings in AMETEK, Inc. $AME

New York State Common Retirement Fund lowered its holdings in shares of AMETEK, Inc. (NYSE:AME) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 128,125 shares of the technology company’s stock after selling 3,400 shares during the quarter. New York State Common Retirement Fund owned 0.06% of AMETEK worth $24,088,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Darwin Wealth Management LLC bought a new stake in AMETEK during the second quarter worth approximately $25,000. TruNorth Capital Management LLC purchased a new position in shares of AMETEK in the 3rd quarter worth approximately $31,000. NewSquare Capital LLC increased its position in shares of AMETEK by 129.7% during the 2nd quarter. NewSquare Capital LLC now owns 170 shares of the technology company’s stock valued at $31,000 after purchasing an additional 96 shares during the last quarter. SouthState Corp raised its holdings in AMETEK by 47.4% during the 2nd quarter. SouthState Corp now owns 202 shares of the technology company’s stock valued at $37,000 after buying an additional 65 shares during the period. Finally, Grey Fox Wealth Advisors LLC bought a new stake in AMETEK in the third quarter worth $39,000. 87.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AME shares. DA Davidson increased their target price on shares of AMETEK from $235.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Oppenheimer downgraded shares of AMETEK from an “outperform” rating to a “market perform” rating in a report on Tuesday. Truist Financial raised their price objective on shares of AMETEK from $219.00 to $229.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Melius Research set a $235.00 target price on AMETEK in a research note on Monday, January 5th. Finally, KeyCorp raised their price target on AMETEK from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $229.82.

AMETEK Trading Down 1.1%

Shares of NYSE AME opened at $224.04 on Friday. AMETEK, Inc. has a twelve month low of $145.02 and a twelve month high of $227.79. The firm has a market cap of $51.57 billion, a PE ratio of 35.34, a price-to-earnings-growth ratio of 3.09 and a beta of 1.04. The business has a fifty day simple moving average of $207.72 and a two-hundred day simple moving average of $194.01. The company has a quick ratio of 0.72, a current ratio of 1.16 and a debt-to-equity ratio of 0.14.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, October 30th. The technology company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.76 by $0.13. AMETEK had a return on equity of 16.66% and a net margin of 20.50%.The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the firm posted $1.66 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. Analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a $0.31 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.24 annualized dividend and a dividend yield of 0.6%. AMETEK’s payout ratio is currently 19.56%.

Insider Transactions at AMETEK

In other news, CEO David A. Zapico sold 28,390 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $201.76, for a total transaction of $5,727,966.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Thomas M. Montgomery sold 6,388 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $205.05, for a total transaction of $1,309,859.40. Following the completion of the transaction, the vice president directly owned 22,116 shares of the company’s stock, valued at $4,534,885.80. This trade represents a 22.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 137,088 shares of company stock valued at $27,212,340. Company insiders own 0.57% of the company’s stock.

AMETEK Company Profile

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.

The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.