Maryland State Retirement & Pension System Buys 335 Shares of AMETEK, Inc. (NYSE:AME)

Maryland State Retirement & Pension System raised its stake in shares of AMETEK, Inc. (NYSE:AME) by 1.9% in the 4th quarter, HoldingsChannel reports. The firm owned 17,897 shares of the technology company’s stock after purchasing an additional 335 shares during the period. Maryland State Retirement & Pension System’s holdings in AMETEK were worth $2,951,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AME. Commonwealth Equity Services LLC grew its position in AMETEK by 1.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 15,965 shares of the technology company’s stock worth $2,359,000 after acquiring an additional 257 shares during the last quarter. Raymond James & Associates raised its holdings in shares of AMETEK by 6.4% during the third quarter. Raymond James & Associates now owns 168,898 shares of the technology company’s stock valued at $24,956,000 after acquiring an additional 10,173 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in AMETEK by 60.0% in the third quarter. Stratos Wealth Partners LTD. now owns 3,241 shares of the technology company’s stock valued at $479,000 after acquiring an additional 1,216 shares in the last quarter. Lindbrook Capital LLC lifted its position in shares of AMETEK by 84.3% in the 3rd quarter. Lindbrook Capital LLC now owns 435 shares of the technology company’s stock worth $64,000 after purchasing an additional 199 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of AMETEK by 5.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,650 shares of the technology company’s stock valued at $9,848,000 after purchasing an additional 3,443 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Stock Performance

AME traded up $1.53 during trading on Tuesday, hitting $169.58. The company’s stock had a trading volume of 999,852 shares, compared to its average volume of 974,158. AMETEK, Inc. has a one year low of $136.89 and a one year high of $186.32. The business’s 50 day simple moving average is $179.42 and its 200-day simple moving average is $166.49. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. The firm has a market cap of $39.25 billion, a PE ratio of 29.68, a P/E/G ratio of 2.66 and a beta of 1.21.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. The business had revenue of $1.74 billion during 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%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.49 earnings per share. As a group, sell-side analysts predict that AMETEK, Inc. will post 6.81 EPS for the current fiscal year.

AMETEK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.66%. This is a boost from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, March 7th. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

Insider Buying and Selling at AMETEK

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

Analysts Set New Price Targets

AME has been the subject of a number of research reports. Truist Financial started coverage on shares of AMETEK in a report on Thursday, March 14th. They issued a “buy” rating and a $210.00 price objective for the company. KeyCorp upped their price target on AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Royal Bank of Canada dropped their target price on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Finally, Robert W. Baird lowered their target price on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a report on Monday. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, AMETEK currently has an average rating of “Moderate Buy” and a consensus target price of $179.80.

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.