AMETEK, Inc. (NYSE:AME) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its holdings in AMETEK, Inc. (NYSE:AME) by 49.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,232 shares of the technology company’s stock after acquiring an additional 30,716 shares during the period. Teacher Retirement System of Texas’ holdings in AMETEK were worth $16,806,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB increased its position in shares of AMETEK by 4.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company’s stock worth $261,000 after acquiring an additional 63 shares in the last quarter. Kensington Investment Counsel LLC increased its position in shares of AMETEK by 0.5% in the fourth quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company’s stock worth $2,574,000 after acquiring an additional 66 shares in the last quarter. AlphaMark Advisors LLC increased its position in shares of AMETEK by 2.1% in the fourth quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company’s stock worth $604,000 after acquiring an additional 70 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of AMETEK by 42.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock worth $42,000 after acquiring an additional 70 shares in the last quarter. Finally, Quotient Wealth Partners LLC increased its position in shares of AMETEK by 3.9% in the fourth quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company’s stock worth $332,000 after acquiring an additional 70 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Price Performance

AME opened at $174.50 on Friday. The company has a 50-day moving average of $182.92 and a 200-day moving average of $180.43. The company has a market capitalization of $40.26 billion, a P/E ratio of 29.43, a PEG ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a 1-year low of $149.03 and a 1-year high of $198.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.85 by $0.02. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the business posted $1.68 EPS. The company’s quarterly revenue was up 1.8% on a year-over-year basis. Equities analysts expect that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.31 dividend. The ex-dividend date is Friday, March 14th. This is a positive change from AMETEK’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 0.71%. AMETEK’s payout ratio is 20.91%.

AMETEK declared that its board has initiated a share repurchase plan on Friday, February 7th that permits the company to buyback $1.25 billion in shares. This buyback authorization permits the technology company to purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several research firms recently issued reports on AME. BNP Paribas raised shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target on the stock in a research note on Thursday, January 16th. Truist Financial lifted their price target on shares of AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Sunday, March 9th. Bank of America raised shares of AMETEK from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $195.00 to $225.00 in a research note on Monday, December 16th. Finally, KeyCorp lifted their price target on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $204.67.

Insider Activity

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $189.41, for a total transaction of $250,021.20. Following the completion of the transaction, the director now directly owns 22,029 shares of the company’s stock, valued at $4,172,512.89. The trade was a 5.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.61% of the company’s stock.

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.