Kentucky Retirement Systems Insurance Trust Fund Sells 611 Shares of AMETEK, Inc. (NYSE:AME)

Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in AMETEK, Inc. (NYSE:AME) by 8.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,855 shares of the technology company’s stock after selling 611 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in AMETEK were worth $1,177,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in AME. Family Firm Inc. bought a new position in AMETEK during the 2nd quarter worth $39,000. Industrial Alliance Investment Management Inc. bought a new position in shares of AMETEK during the second quarter worth about $42,000. Princeton Global Asset Management LLC acquired a new position in shares of AMETEK in the third quarter worth approximately $44,000. Crewe Advisors LLC boosted its holdings in AMETEK by 168.8% in the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock valued at $49,000 after acquiring an additional 184 shares during the last quarter. Finally, First Command Advisory Services Inc. acquired a new stake in AMETEK during the 2nd quarter valued at approximately $50,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Stock Performance

NYSE AME opened at $193.10 on Monday. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The company has a fifty day simple moving average of $173.59 and a 200 day simple moving average of $169.76. AMETEK, Inc. has a 12-month low of $149.03 and a 12-month high of $196.70. The company has a market cap of $44.67 billion, a P/E ratio of 33.64, a PEG ratio of 3.15 and a beta of 1.16.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.64 EPS. Sell-side analysts predict that AMETEK, Inc. will post 6.81 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Friday, December 6th. AMETEK’s dividend payout ratio (DPR) is presently 19.51%.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the transaction, the director now owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This trade represents a 5.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David F. Hermance sold 6,243 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the transaction, the insider now owns 36,731 shares in the company, valued at $7,015,253.69. The trade was a 14.53 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

AME has been the topic of a number of recent analyst reports. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Truist Financial upped their price target on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research report on Friday, November 1st. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Friday. TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Finally, Royal Bank of Canada lowered their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AMETEK presently has a consensus rating of “Moderate Buy” and a consensus target price of $197.86.

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.