California State Teachers Retirement System Decreases Stock Holdings in AMETEK, Inc. (NYSE:AME)

Posted by MarketBeat News on Mar 18th, 2023

California State Teachers Retirement System trimmed its holdings in AMETEK, Inc. (NYSE:AME – Get Rating) by 1.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 381,085 shares of the technology company’s stock after selling 5,212 shares during the quarter. California State Teachers Retirement System’s holdings in AMETEK were worth $43,219,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in AMETEK by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 24,971,365 shares of the technology company’s stock worth $2,832,003,000 after purchasing an additional 150,835 shares in the last quarter. BlackRock Inc. raised its position in shares of AMETEK by 2.3% during the 3rd quarter. BlackRock Inc. now owns 15,773,719 shares of the technology company’s stock valued at $1,788,899,000 after buying an additional 357,665 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of AMETEK by 1.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,341,459 shares of the technology company’s stock valued at $946,005,000 after buying an additional 143,765 shares during the period. Alecta Tjanstepension Omsesidigt raised its position in shares of AMETEK by 3.2% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 4,834,365 shares of the technology company’s stock valued at $548,410,000 after buying an additional 150,000 shares during the period. Finally, Boston Partners raised its position in shares of AMETEK by 4.7% during the 3rd quarter. Boston Partners now owns 3,555,757 shares of the technology company’s stock valued at $403,458,000 after buying an additional 159,056 shares during the period. 85.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Thomas A. Amato sold 780 shares of the business’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $137.54, for a total transaction of $107,281.20. Following the completion of the transaction, the director now owns 8,780 shares in the company, valued at $1,207,601.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Gretchen W. Mcclain sold 2,720 shares of the business’s stock in a transaction on Wednesday, December 28th. The shares were sold at an average price of $140.62, for a total transaction of $382,486.40. Following the completion of the transaction, the director now owns 14,704 shares in the company, valued at $2,067,676.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas A. Amato sold 780 shares of the business’s stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $137.54, for a total transaction of $107,281.20. Following the transaction, the director now owns 8,780 shares of the company’s stock, valued at approximately $1,207,601.20. The disclosure for this sale can be found here. Insiders sold a total of 17,440 shares of company stock worth $2,507,660 over the last 90 days. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

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Several analysts have recently commented on the stock. KeyCorp lifted their price target on shares of AMETEK from $145.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, November 21st. StockNews.com assumed coverage on shares of AMETEK in a research report on Thursday. They set a “buy” rating on the stock. Wolfe Research lowered shares of AMETEK from an “outperform” rating to a “peer perform” rating in a research report on Thursday, February 23rd. Loop Capital lifted their price target on shares of AMETEK from $160.00 to $164.00 in a research report on Thursday, January 12th. Finally, Mizuho lifted their target price on shares of AMETEK from $145.00 to $153.00 and gave the company a “buy” rating in a report on Friday, January 13th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, AMETEK has an average rating of “Moderate Buy” and an average target price of $151.11.

AMETEK Stock Performance

NYSE:AME opened at $134.99 on Friday. The company has a fifty day simple moving average of $142.72 and a two-hundred day simple moving average of $134.21. The company has a market cap of $31.09 billion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 2.63 and a beta of 1.22. The company has a quick ratio of 0.95, a current ratio of 1.62 and a debt-to-equity ratio of 0.29. AMETEK, Inc. has a 52 week low of $106.17 and a 52 week high of $148.06.

AMETEK (NYSE:AME – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The technology company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.47 by $0.05. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.59 billion. AMETEK had a net margin of 18.85% and a return on equity of 18.46%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.37 earnings per share. As a group, equities analysts anticipate that AMETEK, Inc. will post 5.98 earnings per share for the current fiscal year.

AMETEK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 10th will be paid a $0.25 dividend. This is an increase from AMETEK’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, March 9th. This represents a $1.00 annualized dividend and a dividend yield of 0.74%. AMETEK’s payout ratio is 19.96%.

AMETEK Profile

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AMETEK, Inc engages in the manufacture of electronic instruments and electromechanical devices. It operates through the following two segments: Electronic Instruments (EIG) and Electromechanical (EMG). The EIG segment designs and manufactures advanced instruments for the process, aerospace, power and industrial markets.