Arizona State Retirement System lifted its stake in shares of AMETEK, Inc. (NYSE:AME) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 128,338 shares of the technology company’s stock after purchasing an additional 1,622 shares during the quarter. Arizona State Retirement System owned about 0.06% of AMETEK worth $10,154,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Fort L.P. purchased a new stake in shares of AMETEK in the 2nd quarter worth about $119,000. Signet Financial Management LLC purchased a new stake in shares of AMETEK in the 2nd quarter worth about $124,000. ELM Advisors LLC purchased a new stake in shares of AMETEK in the 3rd quarter worth about $142,000. Advisors Asset Management Inc. purchased a new stake in shares of AMETEK in the 2nd quarter worth about $168,000. Finally, Truvestments Capital LLC purchased a new stake in shares of AMETEK in the 3rd quarter worth about $204,000. 85.13% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently commented on AME shares. Cowen reiterated a “buy” rating and issued a $85.00 price objective on shares of AMETEK in a research report on Sunday, August 12th. ValuEngine upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. Bank of America upped their target price on shares of AMETEK from $87.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, August 1st. Royal Bank of Canada reiterated a “buy” rating and set a $86.00 price objective on shares of AMETEK in a report on Wednesday, August 1st. Finally, Morgan Stanley increased their price objective on shares of AMETEK from $79.00 to $84.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 1st. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. AMETEK currently has a consensus rating of “Buy” and a consensus target price of $87.25.
In related news, insider John Wesley Hardin sold 29,955 shares of the stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $81.55, for a total transaction of $2,442,830.25. Following the completion of the sale, the insider now owns 70,016 shares of the company’s stock, valued at approximately $5,709,804.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gretchen W. Mcclain sold 3,870 shares of the stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $80.00, for a total transaction of $309,600.00. Following the sale, the director now directly owns 8,018 shares of the company’s stock, valued at approximately $641,440. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,925 shares of company stock valued at $4,811,210. Corporate insiders own 2.10% of the company’s stock.
AME opened at $72.63 on Friday. The company has a market cap of $15.39 billion, a P/E ratio of 27.83, a price-to-earnings-growth ratio of 1.89 and a beta of 1.18. AMETEK, Inc. has a 1 year low of $64.91 and a 1 year high of $81.92. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.71 and a quick ratio of 1.19.
AMETEK (NYSE:AME) last posted its earnings results on Thursday, November 1st. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.04. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. AMETEK had a net margin of 16.65% and a return on equity of 16.94%. The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. On average, analysts expect that AMETEK, Inc. will post 3.21 earnings per share for the current year.
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.
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