State of Alaska Department of Revenue Cuts Stock Holdings in AMETEK, Inc. (NYSE:AME)

State of Alaska Department of Revenue lowered its stake in AMETEK, Inc. (NYSE:AME) by 4.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,550 shares of the technology company’s stock after selling 1,500 shares during the quarter. State of Alaska Department of Revenue’s holdings in AMETEK were worth $5,952,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AME. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of AMETEK by 11.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,669,394 shares of the technology company’s stock worth $275,266,000 after buying an additional 167,602 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of AMETEK by 161.0% during the 4th quarter. Pacer Advisors Inc. now owns 44,684 shares of the technology company’s stock worth $7,368,000 after acquiring an additional 27,562 shares in the last quarter. Tyche Wealth Partners LLC bought a new position in shares of AMETEK during the 4th quarter valued at approximately $6,275,000. Cim LLC purchased a new position in shares of AMETEK in the fourth quarter valued at $1,254,000. Finally, Nomura Holdings Inc. bought a new stake in AMETEK in the fourth quarter worth $768,000. Institutional investors own 87.43% of the company’s stock.

Insider Buying and Selling

In other 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 completion of the sale, the director now owns 26,249 shares in the company, valued at approximately $4,467,579.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Steven W. Kohlhagen sold 1,470 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the completion of the transaction, the director now directly owns 26,249 shares of the company’s stock, valued at approximately $4,467,579.80. The transaction was disclosed in a filing with the SEC, which is available at 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 value of $250,459.20. Following the sale, the director now directly owns 24,809 shares in the company, valued at approximately $4,315,029.37. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

AMETEK Trading Up 0.1 %

Shares of AME opened at $166.30 on Thursday. The firm has a market capitalization of $38.49 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 2.66 and a beta of 1.18. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32. The company has a 50-day moving average of $170.09 and a 200 day moving average of $171.77.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.05. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. AMETEK’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.49 earnings per share. On average, research analysts expect that AMETEK, Inc. will post 6.83 EPS for the current year.

AMETEK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. AMETEK’s payout ratio is currently 19.68%.

Wall Street Analysts Forecast Growth

Several research firms have commented on AME. Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a research report on Wednesday, May 22nd. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Truist Financial lowered their price target on AMETEK from $210.00 to $204.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Robert W. Baird cut their price objective on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and a consensus target price of $181.20.

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.