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

Kentucky Retirement Systems decreased its stake in shares of AMETEK, Inc. (NYSE:AME) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,443 shares of the technology company’s stock after selling 85 shares during the period. Kentucky Retirement Systems’ holdings in AMETEK were worth $2,908,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its stake in shares of AMETEK by 7.3% during the first quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company’s stock worth $157,000 after purchasing an additional 61 shares in the last quarter. MorganRosel Wealth Management LLC lifted its stake in shares of AMETEK by 1.6% during the second quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company’s stock worth $648,000 after purchasing an additional 61 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in shares of AMETEK by 4.8% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock worth $224,000 after purchasing an additional 61 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of AMETEK by 2.4% during the second quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock worth $440,000 after purchasing an additional 62 shares in the last quarter. Finally, Checchi Capital Advisers LLC lifted its stake in shares of AMETEK by 2.9% during the second quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock worth $371,000 after purchasing an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Stock Up 1.7 %

Shares of NYSE AME opened at $172.30 on Friday. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32. The firm has a market cap of $39.88 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 2.71 and a beta of 1.17. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26. The stock’s 50-day simple moving average is $166.54 and its 200-day simple moving average is $171.46.

AMETEK (NYSE:AME) last announced its quarterly earnings data 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. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. AMETEK’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.57 earnings per share. As a group, equities analysts anticipate that AMETEK, Inc. will post 6.77 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Monday, September 16th. AMETEK’s dividend payout ratio is currently 19.68%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. TD Cowen reduced their price objective on AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Royal Bank of Canada reduced their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Truist Financial reduced their price objective on AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Robert W. Baird dropped their target price on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $186.29.

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.