Kentucky Retirement Systems Has $2.71 Million Stake in AMETEK, Inc. (NYSE:AME)

Kentucky Retirement Systems trimmed its holdings in AMETEK, Inc. (NYSE:AME) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,762 shares of the technology company’s stock after selling 149 shares during the period. Kentucky Retirement Systems’ holdings in AMETEK were worth $2,713,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AME. Banque Transatlantique SA acquired a new stake in shares of AMETEK during the 4th quarter worth about $37,000. OFI Invest Asset Management acquired a new stake in AMETEK during the fourth quarter worth approximately $43,000. Minot DeBlois Advisors LLC acquired a new stake in AMETEK during the fourth quarter worth approximately $43,000. Ancora Advisors LLC lifted its position in AMETEK by 15,950.0% during the fourth quarter. Ancora Advisors LLC now owns 321 shares of the technology company’s stock worth $58,000 after acquiring an additional 319 shares during the last quarter. Finally, Johnson Financial Group Inc. lifted its position in AMETEK by 90.2% during the fourth quarter. Johnson Financial Group Inc. now owns 428 shares of the technology company’s stock worth $79,000 after acquiring an additional 203 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Mizuho set a $212.00 price target on AMETEK in a report on Friday, May 16th. Wall Street Zen raised AMETEK from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Robert W. Baird dropped their target price on AMETEK from $197.00 to $190.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Truist Financial lifted their price objective on shares of AMETEK from $196.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Finally, Royal Bank Of Canada lifted their price objective on shares of AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.89.

Insider Transactions at AMETEK

In related news, Director Thomas A. Amato sold 710 shares of the company’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 transaction of $125,414.40. Following the completion of the transaction, the director now directly owns 10,560 shares in the company, valued at $1,865,318.40. This represents a 6.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.57% of the stock is owned by insiders.

AMETEK Price Performance

Shares of NYSE:AME opened at $177.43 on Tuesday. The firm has a 50 day moving average of $173.57 and a 200-day moving average of $177.37. The stock has a market capitalization of $40.97 billion, a PE ratio of 29.04, a PEG ratio of 2.65 and a beta of 1.10. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a 12 month low of $145.02 and a 12 month high of $198.33.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.69 by $0.06. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the company earned $1.64 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. On average, equities research analysts predict that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.31 per share. The ex-dividend date is Friday, June 13th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.70%. AMETEK’s dividend payout ratio (DPR) is currently 20.29%.

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.