AMETEK, Inc. (NYSE:AME) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado reduced its position in shares of AMETEK, Inc. (NYSE:AME) by 74.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,729 shares of the technology company’s stock after selling 68,095 shares during the period. Public Employees Retirement Association of Colorado’s holdings in AMETEK were worth $3,956,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AME. JPMorgan Chase & Co. raised its position in shares of AMETEK by 48.4% during the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock valued at $1,294,121,000 after acquiring an additional 2,306,535 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of AMETEK by 34.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after acquiring an additional 926,657 shares in the last quarter. Principal Financial Group Inc. increased its position in AMETEK by 256.3% in the second quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company’s stock worth $162,844,000 after buying an additional 702,674 shares during the period. Maren Capital LLC acquired a new stake in AMETEK in the fourth quarter worth $64,284,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in AMETEK in the first quarter worth $46,343,000. 87.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AME shares. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada dropped their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Truist Financial dropped their target price on AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Wolfe Research raised AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Finally, Robert W. Baird decreased their price target on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $186.29.

AMETEK Trading Down 0.7 %

NYSE:AME opened at $171.10 on Monday. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32. The stock has a market cap of $39.60 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 2.71 and a beta of 1.17. The business has a fifty day moving average of $166.57 and a 200-day moving average of $171.27. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.02. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the business posted $1.57 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts predict that AMETEK, Inc. will post 6.77 earnings per share for the current year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.12 annualized dividend and a yield of 0.65%. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

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.