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

New York State Common Retirement Fund lowered its position in AMETEK, Inc. (NYSE:AME) by 2.6% during the third quarter, according to the company in its most recent 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 period. New York State Common Retirement Fund’s holdings in AMETEK were worth $24,088,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AME. Darwin Wealth Management LLC acquired a new position in shares of AMETEK during the second quarter worth $25,000. NewSquare Capital LLC boosted its position in shares of AMETEK by 129.7% in the 2nd quarter. NewSquare Capital LLC now owns 170 shares of the technology company’s stock worth $31,000 after purchasing an additional 96 shares in the last quarter. TruNorth Capital Management LLC purchased a new position in AMETEK during the 3rd quarter worth $31,000. SouthState Corp increased its position 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 in the last quarter. Finally, AdvisorShares Investments LLC purchased a new stake in AMETEK in the second quarter valued at about $39,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Stock Down 1.1%

AMETEK stock opened at $224.04 on Friday. The business’s 50-day moving average price is $207.72 and its 200 day moving average price is $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. The firm has a market cap of $51.57 billion, a price-to-earnings ratio of 35.34, a price-to-earnings-growth ratio of 3.09 and a beta of 1.04. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week high of $227.79.

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

AMETEK Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AME. Melius Research set a $235.00 price objective on shares of AMETEK in a report on Monday, January 5th. Robert W. Baird upped their price target on shares of AMETEK from $198.00 to $204.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Mizuho lifted their price objective on shares of AMETEK from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, January 5th. Barclays boosted their price objective on shares of AMETEK from $205.00 to $210.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. Finally, TD Cowen upgraded AMETEK from a “sell” rating to a “buy” rating in a research note on Tuesday, December 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned 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.

Insider Activity at AMETEK

In other news, CEO David A. Zapico sold 28,390 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $201.76, for a total transaction of $5,727,966.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas C. Marecic sold 14,310 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $202.11, for a total value of $2,892,194.10. Following the completion of the transaction, the insider directly owned 42,589 shares of the company’s stock, valued at $8,607,662.79. The trade was a 25.15% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 137,088 shares of company stock worth $27,212,340. 0.57% of the stock is owned by company insiders.

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.