State Board of Administration of Florida Retirement System Buys 8,189 Shares of AMETEK, Inc. (NYSE:AME)

State Board of Administration of Florida Retirement System grew its holdings in AMETEK, Inc. (NYSE:AME) by 3.3% during the first quarter, Holdings Channel.com reports. The firm owned 258,677 shares of the technology company’s stock after acquiring an additional 8,189 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in AMETEK were worth $47,312,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of AMETEK by 129.8% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 9,470 shares of the technology company’s stock valued at $1,732,000 after purchasing an additional 5,349 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in shares of AMETEK by 9.3% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 872 shares of the technology company’s stock valued at $159,000 after purchasing an additional 74 shares during the last quarter. Advisors Preferred LLC acquired a new stake in shares of AMETEK in the first quarter valued at approximately $7,901,000. Bleakley Financial Group LLC increased its holdings in AMETEK by 2.6% during the first quarter. Bleakley Financial Group LLC now owns 13,600 shares of the technology company’s stock worth $2,488,000 after buying an additional 343 shares during the last quarter. Finally, Avantax Advisory Services Inc. increased its holdings in AMETEK by 4.4% during the first quarter. Avantax Advisory Services Inc. now owns 1,723 shares of the technology company’s stock worth $315,000 after buying an additional 73 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AME has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Robert W. Baird lowered their target price on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Truist Financial lowered their target price on shares of AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Finally, Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a report on Wednesday, May 22nd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, AMETEK currently has an average rating of “Moderate Buy” and a consensus target price of $181.20.

AMETEK Stock Performance

Shares of NYSE:AME traded down $0.94 on Friday, hitting $170.79. The company had a trading volume of 126,521 shares, compared to its average volume of 1,054,918. 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 $39.53 billion, a price-to-earnings ratio of 30.18, a P/E/G ratio of 2.81 and a beta of 1.18. The stock has a 50 day moving average price of $169.29 and a 200 day moving average price of $172.07. The company has a current ratio of 1.11, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the business posted $1.49 earnings per share. AMETEK’s quarterly revenue was up 9.0% on a year-over-year basis. Analysts expect that AMETEK, Inc. will post 6.81 EPS for the current year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.28 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

Insider Activity at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,440 shares of the company’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 transaction, the director now directly owns 24,809 shares in the company, valued at $4,315,029.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Steven W. Kohlhagen sold 1,470 shares of the company’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the director now owns 24,809 shares in the company, valued at $4,315,029.37. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

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.