Retirement Systems of Alabama Sells 375 Shares of AMETEK, Inc. (NYSE:AME)

Retirement Systems of Alabama decreased its holdings in AMETEK, Inc. (NYSE:AME) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,705 shares of the technology company’s stock after selling 375 shares during the period. Retirement Systems of Alabama’s holdings in AMETEK were worth $8,556,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AME. Banque Transatlantique SA bought a new stake in shares of AMETEK in the fourth quarter worth $37,000. OFI Invest Asset Management bought a new stake in shares of AMETEK in the fourth quarter worth $43,000. Minot DeBlois Advisors LLC bought a new stake in shares of AMETEK in the fourth quarter worth $43,000. Ancora Advisors LLC grew its holdings in shares of AMETEK by 15,950.0% in 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 period. Finally, Johnson Financial Group Inc. grew its holdings in shares of AMETEK by 90.2% in 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 period. Institutional investors own 87.43% of the company’s stock.

AMETEK Stock Performance

NYSE:AME opened at $177.43 on Tuesday. The stock has a 50-day simple moving average of $173.57 and a two-hundred day simple moving average of $177.37. AMETEK, Inc. has a 52-week low of $145.02 and a 52-week high of $198.33. The firm has a market capitalization of $40.97 billion, a PE ratio of 29.04, a P/E/G ratio of 2.65 and a beta of 1.10. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.41.

AMETEK (NYSE:AME) last announced its quarterly earnings data 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 return on equity of 16.75% and a net margin of 20.43%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the business earned $1.64 earnings per share. The business’s revenue was down .2% on a year-over-year basis. Analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.31 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.24 annualized dividend and a dividend yield of 0.70%. AMETEK’s payout ratio is 20.29%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Royal Bank Of Canada lifted their price objective on AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Truist Financial lifted their price objective on AMETEK from $196.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Mizuho set a $212.00 target price on AMETEK in a research 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. Finally, Morgan Stanley assumed coverage on AMETEK in a report on Monday, April 14th. They set an “equal weight” rating and a $170.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AMETEK has a consensus rating of “Moderate Buy” and an average price target of $197.89.

Insider Activity

In related news, Director Thomas A. Amato sold 710 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the sale, the director now directly owns 10,560 shares in the company, valued at approximately $1,865,318.40. The trade was a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.57% of the company’s stock.

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.