AMETEK, Inc. $AME Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lessened its holdings in shares of AMETEK, Inc. (NYSE:AME) by 2.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 387,696 shares of the technology company’s stock after selling 10,199 shares during the quarter. California State Teachers Retirement System’s holdings in AMETEK were worth $83,107,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in AMETEK in the fourth quarter valued at $831,372,000. Wellington Management Group LLP boosted its stake in AMETEK by 302.9% in the 4th quarter. Wellington Management Group LLP now owns 2,807,664 shares of the technology company’s stock worth $576,441,000 after buying an additional 2,110,818 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in AMETEK by 539.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,070,555 shares of the technology company’s stock worth $219,796,000 after buying an additional 903,061 shares during the last quarter. Lazard Asset Management LLC grew its holdings in AMETEK by 35.7% in the 3rd quarter. Lazard Asset Management LLC now owns 2,645,977 shares of the technology company’s stock valued at $497,444,000 after buying an additional 695,419 shares during the period. Finally, Man Group plc increased its stake in shares of AMETEK by 411.8% during the 3rd quarter. Man Group plc now owns 785,020 shares of the technology company’s stock valued at $147,584,000 after acquiring an additional 631,649 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AME. Mizuho set a $270.00 target price on shares of AMETEK in a research report on Friday, May 1st. Morgan Stanley increased their price target on shares of AMETEK from $235.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Friday, July 10th. Weiss Ratings lowered shares of AMETEK from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Robert W. Baird set a $244.00 price objective on shares of AMETEK in a research note on Friday, May 1st. Finally, Rothschild & Co Redburn set a $265.00 price objective on AMETEK in a report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $256.29.

AMETEK Price Performance

AMETEK stock opened at $235.74 on Thursday. The firm has a fifty day moving average of $232.88 and a 200-day moving average of $228.22. The company has a quick ratio of 0.72, a current ratio of 1.14 and a debt-to-equity ratio of 0.10. AMETEK, Inc. has a 52-week low of $175.61 and a 52-week high of $244.71. The firm has a market capitalization of $54.03 billion, a P/E ratio of 35.61, a PEG ratio of 3.38 and a beta of 0.99.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.07. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.91 billion. AMETEK had a return on equity of 16.63% and a net margin of 20.11%.The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.75 EPS. As a group, analysts predict that AMETEK, Inc. will post 8.14 EPS for the current year.

AMETEK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.34 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.6%. AMETEK’s dividend payout ratio (DPR) is 20.54%.

About AMETEK

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.

The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.