Public Employees Retirement System of Ohio boosted its holdings in AMETEK, Inc. (NYSE:AME) by 56.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 173,017 shares of the technology company’s stock after purchasing an additional 62,185 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.07% of AMETEK worth $11,713,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Gotham Asset Management LLC boosted its position 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 buying an additional 16,829 shares during the period. GAM Holding AG purchased a new position in AMETEK in the third quarter valued at about $516,000. Forte Capital LLC ADV boosted its holdings in 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 last quarter. IFM Investors Pty Ltd boosted its holdings in 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 last quarter. Finally, Diversified Trust Co boosted its holdings in 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 last quarter. Hedge funds and other institutional investors own 85.88% of the company’s stock.
NYSE AME traded up $0.74 on Friday, hitting $86.49. 953,953 shares of the stock traded hands, compared to its average volume of 947,197. AMETEK, Inc. has a twelve month low of $63.14 and a twelve month high of $86.73. The stock has a market capitalization of $19.68 billion, a P/E ratio of 26.29, a PEG ratio of 2.24 and a beta of 1.21. The company has a quick ratio of 0.96, a current ratio of 1.46 and a debt-to-equity ratio of 0.54.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.65%. The ex-dividend date was Thursday, March 14th. AMETEK’s payout ratio is currently 17.02%.
AMETEK announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 13th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.
A number of research analysts recently commented on the company. Zacks Investment Research raised AMETEK from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a report on Friday, February 8th. DA Davidson increased their price target on AMETEK to $92.00 and gave the company a “buy” rating in a report on Friday, March 15th. BMO Capital Markets reissued a “buy” rating and issued a $90.00 price target on shares of AMETEK in a report on Tuesday, January 29th. Stephens reissued a “buy” rating and issued a $79.00 price target on shares of AMETEK in a report on Sunday, January 6th. Finally, Wolfe Research raised AMETEK from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 8th. Twelve investment analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average price target of $86.80.
In other news, Director Elizebeth R. Varet sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $79.75, for a total transaction of $159,500.00. Following the sale, the director now directly owns 102,810 shares in the company, valued at approximately $8,199,097.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas C. Marecic sold 17,097 shares of the stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $79.00, for a total value of $1,350,663.00. Following the sale, the insider now owns 42,319 shares in the company, valued at $3,343,201. The disclosure for this sale can be found here. Insiders have sold 111,563 shares of company stock worth $8,880,480 in the last 90 days. 0.80% of the stock is currently owned by insiders.
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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