State Board of Administration of Florida Retirement System Lowers Stock Holdings in AMETEK, Inc. (NYSE:AME)

State Board of Administration of Florida Retirement System reduced its position in AMETEK, Inc. (NYSE:AME) by 0.6% in the 2nd quarter, Holdings Channel reports. The fund owned 329,520 shares of the technology company’s stock after selling 2,018 shares during the period. State Board of Administration of Florida Retirement System’s holdings in AMETEK were worth $29,934,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cornerstone Advisors Inc. grew its stake in shares of AMETEK by 55.2% during the 1st quarter. Cornerstone Advisors Inc. now owns 388 shares of the technology company’s stock valued at $32,000 after buying an additional 138 shares during the period. Berman Capital Advisors LLC grew its stake in shares of AMETEK by 51.3% during the 2nd quarter. Berman Capital Advisors LLC now owns 454 shares of the technology company’s stock valued at $41,000 after buying an additional 154 shares during the period. Ibex Wealth Advisors purchased a new stake in shares of AMETEK during the 2nd quarter valued at $52,000. Legacy Advisors LLC purchased a new stake in shares of AMETEK during the 2nd quarter valued at $55,000. Finally, Signaturefd LLC grew its stake in shares of AMETEK by 44.3% during the 2nd quarter. Signaturefd LLC now owns 1,039 shares of the technology company’s stock valued at $94,000 after buying an additional 319 shares during the period. 86.54% of the stock is owned by institutional investors.

In other AMETEK news, Director Anthony James Conti sold 1,570 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $87.79, for a total value of $137,830.30. Following the transaction, the director now owns 17,198 shares in the company, valued at approximately $1,509,812.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas M. Montgomery sold 5,602 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $88.50, for a total transaction of $495,777.00. Following the completion of the transaction, the vice president now owns 26,419 shares in the company, valued at approximately $2,338,081.50. The disclosure for this sale can be found here. Insiders have sold a total of 90,010 shares of company stock worth $7,786,522 in the last 90 days. Company insiders own 0.80% of the company’s stock.

Shares of NYSE:AME traded down $0.49 during midday trading on Friday, hitting $85.28. 48,792 shares of the company’s stock traded hands, compared to its average volume of 1,252,385. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.53 and a current ratio of 2.17. The company has a market cap of $19.69 billion, a PE ratio of 25.92, a P/E/G ratio of 2.20 and a beta of 1.22. The firm’s fifty day moving average price is $88.19 and its two-hundred day moving average price is $84.56. AMETEK, Inc. has a twelve month low of $63.14 and a twelve month high of $92.30.

AMETEK (NYSE:AME) last posted its earnings results on Tuesday, July 30th. The technology company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.02. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. AMETEK had a net margin of 16.32% and a return on equity of 19.27%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.83 EPS. As a group, equities research analysts anticipate that AMETEK, Inc. will post 4.1 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.56 annualized dividend and a dividend yield of 0.66%. AMETEK’s payout ratio is 17.02%.

Several analysts have recently issued reports on the stock. Vertical Research reissued a “buy” rating on shares of AMETEK in a research note on Friday, May 3rd. BMO Capital Markets boosted their price objective on shares of AMETEK from $99.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Berenberg Bank assumed coverage on shares of AMETEK in a research note on Wednesday, May 15th. They set a “buy” rating and a $100.00 price objective for the company. Royal Bank of Canada set a $95.00 price objective on shares of AMETEK and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, DA Davidson boosted their price objective on shares of AMETEK to $101.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $94.36.

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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