Kentucky Retirement Systems Boosts Stock Position in AMETEK, Inc. $AME

Kentucky Retirement Systems raised its holdings in AMETEK, Inc. (NYSE:AME) by 39.7% during the first quarter, Holdings Channel reports. The institutional investor owned 20,207 shares of the technology company’s stock after buying an additional 5,743 shares during the period. Kentucky Retirement Systems’ holdings in AMETEK were worth $4,332,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. CoreCap Advisors LLC increased its holdings in shares of AMETEK by 84.3% in the 4th quarter. CoreCap Advisors LLC now owns 129 shares of the technology company’s stock valued at $26,000 after acquiring an additional 59 shares during the last quarter. MV Capital Management Inc. purchased a new stake in AMETEK during the fourth quarter worth approximately $28,000. Brown Lisle Cummings Inc. boosted its holdings in AMETEK by 878.6% in the first quarter. Brown Lisle Cummings Inc. now owns 137 shares of the technology company’s stock valued at $29,000 after purchasing an additional 123 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in AMETEK in the second quarter valued at approximately $25,000. Finally, SJS Investment Consulting Inc. increased its stake in AMETEK by 393.1% in the first quarter. SJS Investment Consulting Inc. now owns 143 shares of the technology company’s stock valued at $31,000 after purchasing an additional 114 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Trading Up 2.0%

AME opened at $239.93 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.14 and a debt-to-equity ratio of 0.10. AMETEK, Inc. has a 52 week low of $179.24 and a 52 week high of $244.71. The business’s 50 day moving average is $233.22 and its two-hundred day moving average is $228.42. The firm has a market cap of $54.99 billion, a price-to-earnings ratio of 36.24, a price-to-earnings-growth ratio of 3.30 and a beta of 0.99.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, April 30th. The technology company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.07. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.91 billion. AMETEK had a return on equity of 16.63% and a net margin of 20.11%.The company’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.75 earnings per share. On average, research analysts predict that AMETEK, Inc. will post 8.14 EPS for the current year.

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $0.34 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.36 annualized dividend and a yield of 0.6%. AMETEK’s dividend payout ratio is 20.54%.

Analyst Ratings Changes

A number of analysts have weighed in on AME shares. Rothschild & Co Redburn set a $265.00 price objective on shares of AMETEK in a report on Thursday, June 18th. Morgan Stanley upped their target price on shares of AMETEK from $235.00 to $245.00 and gave the company an “equal weight” rating in a report on Friday, July 10th. Mizuho set a $270.00 target price on shares of AMETEK in a research report on Friday, May 1st. Barclays lifted their price target on shares of AMETEK from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Finally, Wall Street Zen cut shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $256.29.

AMETEK Profile

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.

The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.