AMETEK, Inc. (NYSE:AME) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its stake in AMETEK, Inc. (NYSE:AME) by 50.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,097 shares of the technology company’s stock after selling 10,110 shares during the quarter. Kentucky Retirement Systems’ holdings in AMETEK were worth $684,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Gotham Asset Management LLC raised its holdings in shares of AMETEK by 10.8% in the fourth quarter. Gotham Asset Management LLC now owns 172,158 shares of the technology company’s stock worth $11,655,000 after acquiring an additional 16,829 shares during the last quarter. GAM Holding AG purchased a new stake in shares of AMETEK in the third quarter valued at $516,000. Forte Capital LLC ADV grew its position in shares of AMETEK by 1.1% in the fourth quarter. Forte Capital LLC ADV now owns 91,626 shares of the technology company’s stock valued at $6,203,000 after purchasing an additional 973 shares during the period. IFM Investors Pty Ltd grew its position in shares of AMETEK by 8.7% in the fourth quarter. IFM Investors Pty Ltd now owns 14,087 shares of the technology company’s stock valued at $954,000 after purchasing an additional 1,131 shares during the period. Finally, Diversified Trust Co grew its position in shares of AMETEK by 12.8% in the fourth quarter. Diversified Trust Co now owns 3,849 shares of the technology company’s stock valued at $261,000 after purchasing an additional 436 shares during the period. 85.88% of the stock is owned by institutional investors and hedge funds.

In related news, insider Timothy N. Jones sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $82.20, for a total value of $411,000.00. Following the completion of the transaction, the insider now directly owns 37,177 shares of the company’s stock, valued at approximately $3,055,949.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas C. Marecic sold 17,097 shares of the stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $79.00, for a total value of $1,350,663.00. Following the transaction, the insider now directly owns 42,319 shares of the company’s stock, valued at $3,343,201. The disclosure for this sale can be found here. Insiders have sold 111,563 shares of company stock valued at $8,880,480 over the last ninety days. Corporate insiders own 0.80% of the company’s stock.

A number of equities research analysts have issued reports on AME shares. Morgan Stanley raised AMETEK from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $81.00 to $85.00 in a research report on Tuesday, December 18th. Royal Bank of Canada reissued a “buy” rating and set a $82.00 price target on shares of AMETEK in a research report on Wednesday, December 19th. Zacks Investment Research downgraded AMETEK from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. Stephens reaffirmed a “buy” rating and issued a $79.00 target price on shares of AMETEK in a research report on Sunday, January 6th. Finally, Wolfe Research raised AMETEK from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 8th. Twelve analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus price target of $86.80.

Shares of NYSE AME opened at $85.62 on Tuesday. AMETEK, Inc. has a 52-week low of $63.14 and a 52-week high of $86.21. The company has a market cap of $19.60 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 2.19 and a beta of 1.21. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.46.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Tuesday, February 5th. The technology company reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.02. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.26 billion. AMETEK had a return on equity of 17.72% and a net margin of 16.05%. AMETEK’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.70 earnings per share. As a group, equities research analysts predict that AMETEK, Inc. will post 4.04 EPS for the current fiscal year.

AMETEK announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 13th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 2.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Thursday, March 14th. AMETEK’s dividend payout ratio (DPR) is presently 17.02%.

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About AMETEK

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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