Oregon Public Employees Retirement Fund Grows Position in AMETEK, Inc. (NYSE:AME)

Oregon Public Employees Retirement Fund boosted its position in AMETEK, Inc. (NYSE:AME) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,916 shares of the technology company’s stock after acquiring an additional 137 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in AMETEK were worth $3,320,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of AMETEK by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 25,578,270 shares of the technology company’s stock worth $4,217,601,000 after purchasing an additional 84,832 shares in the last quarter. JPMorgan Chase & Co. boosted 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 worth $1,294,121,000 after acquiring an additional 2,306,535 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of AMETEK by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company’s stock valued at $1,195,478,000 after acquiring an additional 44,899 shares during the last quarter. Capital International Investors increased its holdings in shares of AMETEK by 5.0% in the 4th quarter. Capital International Investors now owns 4,196,755 shares of the technology company’s stock valued at $692,051,000 after acquiring an additional 198,777 shares during the last quarter. Finally, 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 worth $600,615,000 after acquiring an additional 926,657 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Price Performance

AMETEK stock opened at $167.50 on Thursday. The company has a market cap of $38.77 billion, a P/E ratio of 29.44, a price-to-earnings-growth ratio of 2.81 and a beta of 1.17. AMETEK, Inc. has a one year low of $136.89 and a one year high of $186.32. The business has a fifty day moving average of $166.36 and a two-hundred day moving average of $172.24. 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 released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the firm earned $1.57 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. As a group, analysts predict that AMETEK, Inc. will post 6.77 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. AMETEK’s payout ratio is 19.68%.

Insider Buying and Selling at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,440 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on AME shares. Oppenheimer raised shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a report on Wednesday, May 22nd. Robert W. Baird cut their price target on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. TD Cowen decreased their price objective on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Truist Financial cut their target price on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $186.29.

AMETEK Company 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.