Kentucky Retirement Systems Reduces Stock Position in AMETEK, Inc. (NYSE:AME)

Kentucky Retirement Systems decreased its position in shares of AMETEK, Inc. (NYSE:AME) by 7.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,130 shares of the technology company’s stock after selling 1,313 shares during the quarter. Kentucky Retirement Systems’ holdings in AMETEK were worth $2,770,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Family Firm Inc. acquired a new stake in shares of AMETEK in the second quarter worth $39,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of AMETEK during the 2nd quarter valued at about $42,000. Princeton Global Asset Management LLC purchased a new position in shares of AMETEK during the 3rd quarter valued at about $44,000. Crewe Advisors LLC boosted its position in AMETEK by 168.8% in the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock worth $49,000 after purchasing an additional 184 shares in the last quarter. Finally, First Command Advisory Services Inc. acquired a new stake in shares of AMETEK during the 2nd quarter worth approximately $50,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insider Activity

In related news, insider David F. Hermance sold 6,243 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the completion of the transaction, the insider now owns 36,731 shares of the company’s stock, valued at approximately $7,015,253.69. This trade represents a 14.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the sale, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. The trade was a 5.88 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

AMETEK Price Performance

AME stock opened at $193.10 on Monday. AMETEK, Inc. has a 1 year low of $149.03 and a 1 year high of $196.70. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The firm has a market capitalization of $44.67 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 3.15 and a beta of 1.16. The business has a 50 day simple moving average of $173.59 and a 200-day simple moving average of $169.76.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the business earned $1.64 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Equities research analysts anticipate that AMETEK, Inc. will post 6.81 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Friday, December 6th. AMETEK’s dividend payout ratio (DPR) is presently 19.51%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AME. Robert W. Baird increased their price target on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research report on Friday. Wolfe Research raised AMETEK to a “hold” rating in a report on Wednesday, September 18th. Truist Financial raised their price objective on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada cut their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $197.86.

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.