Louisiana State Employees Retirement System Buys Shares of 14,000 AMETEK, Inc. (NYSE:AME)

Louisiana State Employees Retirement System purchased a new position in shares of AMETEK, Inc. (NYSE:AME) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 14,000 shares of the technology company’s stock, valued at approximately $2,308,000.

Other hedge funds have also made changes to their positions in the company. SeaCrest Wealth Management LLC boosted its holdings in shares of AMETEK by 1.5% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 5,660 shares of the technology company’s stock worth $836,000 after buying an additional 82 shares during the period. CreativeOne Wealth LLC increased its stake in shares of AMETEK by 3.3% in the fourth quarter. CreativeOne Wealth LLC now owns 2,548 shares of the technology company’s stock worth $356,000 after purchasing an additional 82 shares during the period. Lincoln National Corp lifted its position in shares of AMETEK by 6.1% during the 3rd quarter. Lincoln National Corp now owns 1,436 shares of the technology company’s stock worth $212,000 after purchasing an additional 83 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted 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 purchasing an additional 85 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake in AMETEK by 2.7% during the 4th quarter. Venturi Wealth Management LLC now owns 3,203 shares of the technology company’s stock valued at $528,000 after purchasing an additional 85 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Trading Up 0.0 %

Shares of NYSE:AME opened at $179.08 on Wednesday. The stock has a market capitalization of $41.41 billion, a PE ratio of 31.58, a price-to-earnings-growth ratio of 2.87 and a beta of 1.22. The company’s 50-day moving average price is $178.82 and its two-hundred day moving average price is $163.94. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.98 and a quick ratio of 0.59. AMETEK, Inc. has a one year low of $133.12 and a one year high of $186.32.

AMETEK (NYSE:AME) last released its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.62 by $0.06. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. AMETEK had a return on equity of 17.96% and a net margin of 19.91%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.52 EPS. On average, equities analysts forecast that AMETEK, Inc. will post 6.82 EPS for the current fiscal year.

AMETEK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 8th were paid a $0.28 dividend. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.12 annualized dividend and a yield of 0.63%. AMETEK’s dividend payout ratio is currently 19.75%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Royal Bank of Canada cut their price target on AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Truist Financial began coverage on AMETEK in a research note on Thursday, March 14th. They issued a “buy” rating and a $210.00 target price for the company. Finally, KeyCorp lifted their price target on shares of AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, AMETEK presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.78.

Insider Activity

In related news, CFO William Joseph Burke sold 27,400 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $185.05, for a total transaction of $5,070,370.00. Following the transaction, the chief financial officer now directly owns 106,512 shares of the company’s stock, valued at approximately $19,710,045.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Thomas M. Montgomery sold 6,891 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the transaction, the vice president now directly owns 21,543 shares of the company’s stock, valued at $3,993,641.34. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO William Joseph Burke sold 27,400 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $185.05, for a total transaction of $5,070,370.00. Following the completion of the sale, the chief financial officer now directly owns 106,512 shares of the company’s stock, valued at approximately $19,710,045.60. The disclosure for this sale can be found here. Insiders sold a total of 59,881 shares of company stock valued at $10,689,758 over the last three months. 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.