California Public Employees Retirement System Has $89.48 Million Stake in AMETEK, Inc. (NYSE:AME)

California Public Employees Retirement System cut its stake in shares of AMETEK, Inc. (NYSE:AME) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 542,684 shares of the technology company’s stock after selling 8,488 shares during the quarter. California Public Employees Retirement System owned approximately 0.24% of AMETEK worth $89,483,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AME. McGlone Suttner Wealth Management Inc. bought a new stake in AMETEK in the 4th quarter valued at about $25,000. Wetzel Investment Advisors Inc. bought a new stake in shares of AMETEK during the fourth quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of AMETEK during the fourth quarter worth approximately $26,000. Bruce G. Allen Investments LLC bought a new position in shares of AMETEK in the 4th quarter worth $28,000. Finally, Rakuten Securities Inc. bought a new stake in AMETEK during the 4th quarter valued at $31,000. 87.43% of the stock is owned by institutional investors.

Insider Transactions at AMETEK

In related news, Director Thomas A. Amato sold 780 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total value of $141,960.00. Following the sale, the director now directly owns 10,240 shares in the company, valued at approximately $1,863,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Steven W. Kohlhagen sold 1,400 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $180.59, for a total value of $252,826.00. Following the sale, the director now owns 28,054 shares in the company, valued at $5,066,271.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas A. Amato sold 780 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total value of $141,960.00. Following the transaction, the director now owns 10,240 shares of the company’s stock, valued at $1,863,680. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,881 shares of company stock worth $10,689,758. 0.61% of the stock is owned by company insiders.

AMETEK Trading Down 0.9 %

NYSE AME opened at $178.25 on Thursday. The business’s fifty day moving average is $179.97 and its 200-day moving average is $165.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.98 and a quick ratio of 0.59. The stock has a market capitalization of $41.21 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 2.84 and a beta of 1.22. AMETEK, Inc. has a one year low of $133.12 and a one year high of $186.32.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.62 by $0.06. AMETEK had a net margin of 19.91% and a return on equity of 17.96%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the firm posted $1.52 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts predict that AMETEK, Inc. will post 6.82 EPS for the current year.

AMETEK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from AMETEK’s previous quarterly dividend of $0.25. AMETEK’s dividend payout ratio is currently 19.75%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. Truist Financial initiated coverage on AMETEK in a research note on Thursday, March 14th. They set a “buy” rating and a $210.00 price target for the company. Royal Bank of Canada lowered their price objective on AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Finally, KeyCorp lifted their target price on AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $180.78.

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.