State of Michigan Retirement System Has $11.57 Million Holdings in AMETEK, Inc. (NYSE:AME)

State of Michigan Retirement System raised its holdings in AMETEK, Inc. (NYSE:AME) by 0.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,253 shares of the technology company’s stock after buying an additional 100 shares during the period. State of Michigan Retirement System’s holdings in AMETEK were worth $11,569,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. M&T Bank Corp lifted its position in AMETEK by 0.5% in the 4th quarter. M&T Bank Corp now owns 15,442 shares of the technology company’s stock valued at $2,547,000 after acquiring an additional 73 shares in the last quarter. Provence Wealth Management Group lifted its holdings in shares of AMETEK by 5.5% in the fourth quarter. Provence Wealth Management Group now owns 1,435 shares of the technology company’s stock valued at $237,000 after purchasing an additional 75 shares in the last quarter. Metis Global Partners LLC raised its position in AMETEK by 0.5% in the 4th quarter. Metis Global Partners LLC now owns 15,934 shares of the technology company’s stock valued at $2,627,000 after buying an additional 82 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in AMETEK by 4.6% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 1,919 shares of the technology company’s stock valued at $284,000 after acquiring an additional 85 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in AMETEK by 2.7% during the fourth quarter. Venturi Wealth Management LLC now owns 3,203 shares of the technology company’s stock worth $528,000 after purchasing an additional 85 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AME has been the subject of several research analyst reports. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Truist Financial dropped their price target on AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock in a research report on Tuesday. 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, Robert W. Baird dropped their price objective 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. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AMETEK presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.20.

Insiders Place Their Bets

In other news, Director Steven W. Kohlhagen sold 1,470 shares of AMETEK stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following the completion of the sale, the director now owns 26,249 shares in the company, valued at approximately $4,467,579.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the firm’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven W. Kohlhagen sold 1,470 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the completion of the transaction, the director now owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

AMETEK Price Performance

Shares of AME traded up $0.53 during midday trading on Tuesday, hitting $166.10. 703,315 shares of the company traded hands, compared to its average volume of 1,056,027. AMETEK, Inc. has a one year low of $136.89 and a one year high of $186.32. The firm has a market cap of $38.45 billion, a P/E ratio of 29.25, a PEG ratio of 2.67 and a beta of 1.18. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66. The stock has a 50-day moving average of $170.36 and a 200-day moving average of $171.75.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.05. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the company posted $1.49 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, sell-side analysts predict that AMETEK, Inc. will post 6.83 EPS for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Friday, June 14th. AMETEK’s payout ratio is 19.68%.

AMETEK 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.