Teacher Retirement System of Texas Grows Stake in AMETEK, Inc. (NYSE:AME)

Teacher Retirement System of Texas increased its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 49.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,232 shares of the technology company's stock after acquiring an additional 30,716 shares during the period. Teacher Retirement System of Texas' holdings in AMETEK were worth $16,806,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AME. State Street Corp boosted its holdings in shares of AMETEK by 0.3% in the 3rd quarter. State Street Corp now owns 9,220,376 shares of the technology company's stock worth $1,583,231,000 after purchasing an additional 24,072 shares during the period. JPMorgan Chase & Co. boosted its stake in AMETEK by 3.7% during the third quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company's stock worth $1,199,454,000 after buying an additional 250,538 shares during the period. Geode Capital Management LLC increased its position in AMETEK by 0.8% during the third quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company's stock valued at $924,308,000 after acquiring an additional 45,459 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of AMETEK by 2.3% in the fourth quarter. Bank of New York Mellon Corp now owns 4,415,508 shares of the technology company's stock valued at $795,939,000 after acquiring an additional 99,505 shares during the period. Finally, Flossbach Von Storch SE lifted its holdings in shares of AMETEK by 2.5% in the 4th quarter. Flossbach Von Storch SE now owns 3,724,352 shares of the technology company's stock worth $671,352,000 after acquiring an additional 91,287 shares during the last quarter. 87.43% of the stock is owned by institutional investors.

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Insider Activity at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total transaction of $250,021.20. Following the transaction, the director now owns 22,029 shares in the company, valued at approximately $4,172,512.89. This represents a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AME shares. Bank of America raised shares of AMETEK from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $195.00 to $225.00 in a research report on Monday, December 16th. StockNews.com raised shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Sunday, March 9th. Truist Financial lifted their price objective on AMETEK from $221.00 to $222.00 and gave the company a "buy" rating in a report on Thursday, January 16th. BNP Paribas raised shares of AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price objective for the company in a research note on Thursday, January 16th. Finally, Robert W. Baird decreased their price target on shares of AMETEK from $200.00 to $197.00 and set a "neutral" rating for the company in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $204.67.

AMETEK Stock Performance

Shares of AME stock traded up $0.87 during mid-day trading on Tuesday, reaching $179.69. The stock had a trading volume of 1,166,263 shares, compared to its average volume of 1,165,174. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a 1-year low of $149.03 and a 1-year high of $198.33. The firm has a market cap of $41.46 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 2.73 and a beta of 1.14. The business's fifty day moving average is $182.98 and its 200-day moving average is $180.83.

AMETEK (NYSE:AME - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.85 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.82 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The firm's revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.68 earnings per share. On average, research analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK declared that its Board of Directors has initiated a share repurchase plan on Friday, February 7th that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the technology company to buy up to 2.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

AMETEK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 0.69%. This is a positive change from AMETEK's previous quarterly dividend of $0.28. The ex-dividend date is Friday, March 14th. AMETEK's payout ratio is 20.91%.

AMETEK Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in the North America, Europe, Asia, and South America, and internationally. The company's EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets; power quality monitoring and c devices, uninterruptible power supplies, programmable power and electromagnetic compatibility test equipment, and sensors for gas turbines and dashboard instruments; heavy trucks, instrumentation, and controls for the food and beverage industries; and aircraft and engine sensors, power supplies, embedded computing, monitoring, fuel and fluid measurement, and data acquisition systems for aerospace and defense industry.