Kentucky Retirement Systems Insurance Trust Fund Decreases Stake in AMETEK, Inc. (NYSE:AME)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in AMETEK, Inc. (NYSE:AME) by 7.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,617 shares of the technology company’s stock after selling 605 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in AMETEK were worth $1,393,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AME. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in AMETEK by 11.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,669,394 shares of the technology company’s stock valued at $275,266,000 after buying an additional 167,602 shares during the last quarter. Tyche Wealth Partners LLC purchased a new position in shares of AMETEK during the 4th quarter worth approximately $6,275,000. Cim LLC acquired a new stake in shares of AMETEK in the 4th quarter valued at approximately $1,254,000. Nomura Holdings Inc. purchased a new stake in shares of AMETEK in the fourth quarter valued at approximately $768,000. Finally, Duality Advisers LP purchased a new position in AMETEK in the first quarter worth $1,676,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AME shares. Truist Financial lowered their price target on shares of AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. Robert W. Baird decreased their price target on AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research report on Wednesday, May 22nd. Finally, StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $181.20.

Insider Activity at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the sale, the director now owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other AMETEK news, Director Steven W. Kohlhagen sold 1,470 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total value of $250,194.00. Following the sale, the director now directly owns 26,249 shares in the company, valued at $4,467,579.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,440 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the transaction, the director now owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

AMETEK Stock Down 0.1 %

AME traded down $0.16 on Monday, reaching $172.11. The company’s stock had a trading volume of 261,220 shares, compared to its average volume of 1,046,611. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32. The business’s 50 day moving average is $169.46 and its 200 day moving average is $172.55. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66. The stock has a market cap of $39.84 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 2.77 and a beta of 1.18.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the firm earned $1.49 earnings per share. As a group, research analysts forecast that AMETEK, Inc. will post 6.81 EPS for the current fiscal year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Friday, June 14th. AMETEK’s payout ratio is 19.68%.

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.