Kentucky Retirement Systems Insurance Trust Fund Sells 605 Shares of AMETEK, Inc. (NYSE:AME)

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in shares of AMETEK, Inc. (NYSE:AME) by 7.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,617 shares of the technology company’s stock after selling 605 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in AMETEK were worth $1,393,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. bought a new position in shares of AMETEK during the 4th quarter worth approximately $25,000. Wetzel Investment Advisors Inc. bought a new position in shares of AMETEK during the 4th quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of AMETEK during the 4th quarter worth approximately $26,000. Rakuten Securities Inc. bought a new position in shares of AMETEK during the 4th quarter worth approximately $31,000. Finally, Washington Trust Advisors Inc. bought a new position in shares of AMETEK during the 1st quarter worth approximately $37,000. 87.43% of the stock is currently owned by institutional investors.

AMETEK Price Performance

Shares of NYSE AME traded down $0.16 during trading hours on Monday, reaching $172.11. 261,220 shares of the stock traded hands, compared to its average volume of 1,046,611. The company has a market capitalization of $39.84 billion, a P/E ratio of 30.31, a price-to-earnings-growth ratio of 2.77 and a beta of 1.18. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32. The company’s 50-day simple moving average is $169.46 and its two-hundred day simple moving average is $172.55.

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

AMETEK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. AMETEK’s dividend payout ratio is currently 19.68%.

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction that occurred on 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 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 the SEC website. In related news, Director Steven W. Kohlhagen sold 1,470 shares of AMETEK stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following the sale, 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 the SEC website. Also, Director Steven W. Kohlhagen sold 1,440 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total value of $250,459.20. Following the completion of the sale, the director now directly owns 24,809 shares in the company, valued at $4,315,029.37. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Robert W. Baird decreased their target price on AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Oppenheimer upgraded AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price target for the company in a research note on Wednesday, May 22nd. Finally, Truist Financial cut their price target on AMETEK from $210.00 to $204.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.20.

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.