24,242 Shares in AMETEK, Inc. (AME) Purchased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in AMETEK, Inc. (NYSE:AME) during the second quarter, HoldingsChannel.com reports. The fund bought 24,242 shares of the technology company’s stock, valued at approximately $1,749,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AME. BlackRock Inc. grew its holdings in AMETEK by 7.8% in the 1st quarter. BlackRock Inc. now owns 16,255,467 shares of the technology company’s stock valued at $1,234,928,000 after buying an additional 1,181,279 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in AMETEK by 163.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,093,946 shares of the technology company’s stock valued at $83,106,000 after buying an additional 679,049 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in AMETEK by 714.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 610,418 shares of the technology company’s stock valued at $44,048,000 after buying an additional 535,447 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in AMETEK by 6.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,369,528 shares of the technology company’s stock valued at $407,923,000 after buying an additional 320,848 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in AMETEK by 49.2% in the 1st quarter. Principal Financial Group Inc. now owns 786,971 shares of the technology company’s stock valued at $59,786,000 after buying an additional 259,545 shares during the last quarter. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AME stock opened at $75.73 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.71 and a debt-to-equity ratio of 0.42. AMETEK, Inc. has a 12 month low of $61.77 and a 12 month high of $79.32. The company has a market capitalization of $17.60 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 2.16 and a beta of 1.26.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Tuesday, July 31st. The technology company reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.05. AMETEK had a return on equity of 16.94% and a net margin of 16.65%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the company earned $0.65 EPS. The company’s quarterly revenue was up 13.6% on a year-over-year basis. equities research analysts forecast that AMETEK, Inc. will post 3.21 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be given a $0.14 dividend. The ex-dividend date is Thursday, September 13th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.74%. AMETEK’s dividend payout ratio is currently 21.46%.

A number of analysts have issued reports on the company. Cowen reaffirmed a “buy” rating and issued a $85.00 target price on shares of AMETEK in a report on Sunday, August 12th. Zacks Investment Research raised AMETEK from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Tuesday, May 22nd. BMO Capital Markets raised their target price on AMETEK from $92.00 to $93.00 and gave the company an “outperform” rating in a report on Wednesday, August 1st. ValuEngine raised AMETEK from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $86.00 target price on shares of AMETEK in a report on Wednesday, August 1st. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $86.08.

In other AMETEK news, Director Elizebeth R. Varet sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $75.56, for a total value of $151,120.00. Following the completion of the sale, the director now owns 113,810 shares in the company, valued at approximately $8,599,483.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Elizebeth R. Varet sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $76.95, for a total value of $230,850.00. Following the completion of the sale, the director now owns 113,810 shares of the company’s stock, valued at approximately $8,757,679.50. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock valued at $905,480 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

AMETEK Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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