State of Alaska Department of Revenue Sells 1,500 Shares of AMETEK, Inc. (NYSE:AME)

State of Alaska Department of Revenue trimmed its holdings in shares of AMETEK, Inc. (NYSE:AME) by 4.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,550 shares of the technology company’s stock after selling 1,500 shares during the period. State of Alaska Department of Revenue’s holdings in AMETEK were worth $5,952,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Federated Hermes Inc. boosted its stake in AMETEK by 21.1% in the third quarter. Federated Hermes Inc. now owns 1,296 shares of the technology company’s stock valued at $191,000 after acquiring an additional 226 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in AMETEK in the third quarter worth $585,000. Lido Advisors LLC raised its stake in shares of AMETEK by 11.4% in the third quarter. Lido Advisors LLC now owns 6,215 shares of the technology company’s stock valued at $918,000 after buying an additional 636 shares during the period. Legacy Advisors LLC purchased a new position in shares of AMETEK during the 3rd quarter valued at $267,000. Finally, Seven Eight Capital LP grew its stake in shares of AMETEK by 7.1% during the 3rd quarter. Seven Eight Capital LP now owns 3,708 shares of the technology company’s stock worth $548,000 after acquiring an additional 245 shares during the period. 87.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Steven W. Kohlhagen sold 1,440 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the sale, the director now owns 24,809 shares in the company, valued at approximately $4,315,029.37. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total transaction of $250,459.20. Following the transaction, the director now directly owns 24,809 shares in the company, valued at approximately $4,315,029.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven W. Kohlhagen sold 1,470 shares of the firm’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 transaction, the director now directly owns 26,249 shares in the company, valued at $4,467,579.80. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a research note on Wednesday, May 22nd. Truist Financial reduced their price objective on shares of AMETEK from $210.00 to $204.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Robert W. Baird dropped their target price on AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $181.20.

AMETEK Trading Up 0.1 %

Shares of AME stock opened at $166.30 on Thursday. The company has a market capitalization of $38.49 billion, a PE ratio of 29.23, a price-to-earnings-growth ratio of 2.66 and a beta of 1.18. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32. The business’s fifty day moving average is $170.09 and its 200 day moving average is $171.77. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 1.11.

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

AMETEK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.28 per share. The ex-dividend date was Friday, June 14th. This represents a $1.12 annualized dividend and a yield of 0.67%. AMETEK’s payout ratio is presently 19.68%.

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.