State of Tennessee Department of Treasury Has $9.19 Million Stock Position in AMETEK, Inc. (NYSE:AME)

State of Tennessee Department of Treasury boosted its position in AMETEK, Inc. (NYSE:AME - Free Report) by 69.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,000 shares of the technology company's stock after buying an additional 20,832 shares during the quarter. State of Tennessee Department of Treasury's holdings in AMETEK were worth $9,193,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Oddo BHF Asset Management Sas bought a new stake in shares of AMETEK in the 3rd quarter valued at approximately $3,724,000. National Bank of Canada FI increased its stake in AMETEK by 17.4% during the fourth quarter. National Bank of Canada FI now owns 142,093 shares of the technology company's stock valued at $25,616,000 after purchasing an additional 21,009 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in shares of AMETEK during the fourth quarter worth $999,000. Czech National Bank lifted its position in shares of AMETEK by 6.3% in the 4th quarter. Czech National Bank now owns 50,153 shares of the technology company's stock worth $9,041,000 after buying an additional 2,987 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of AMETEK by 434.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company's stock valued at $97,614,000 after buying an additional 440,197 shares during the period. Institutional investors and hedge funds own 87.43% of the company's stock.

Insider Transactions at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $189.41, for a total transaction of $250,021.20. Following the sale, the director now directly owns 22,029 shares of the company's stock, valued at $4,172,512.89. The trade was a 5.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas A. Amato sold 710 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the completion of the sale, the director now directly owns 10,560 shares of the company's stock, valued at approximately $1,865,318.40. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AME shares. Robert W. Baird cut their target price on shares of AMETEK from $200.00 to $197.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. StockNews.com downgraded AMETEK from a "buy" rating to a "hold" rating in a report on Friday, April 11th. BNP Paribas upgraded 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. Truist Financial cut their target price on AMETEK from $216.00 to $196.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Morgan Stanley began coverage on shares of AMETEK in a research report on Monday, April 14th. They set an "equal weight" rating and a $170.00 price target for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AMETEK currently has an average rating of "Moderate Buy" and an average target price of $198.60.

AMETEK Price Performance

AME stock traded down $0.43 during trading on Friday, hitting $166.81. The company had a trading volume of 711,149 shares, compared to its average volume of 1,296,919. The business has a 50 day moving average of $172.08 and a 200 day moving average of $179.49. The firm has a market capitalization of $38.49 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 2.73 and a beta of 1.14. 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 fifty-two week low of $145.02 and a fifty-two week high of $198.33.

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

AMETEK announced that its board has approved a stock repurchase program on Friday, February 7th that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the technology company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its stock is undervalued.

AMETEK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.74%. This is a boost from AMETEK's previous quarterly dividend of $0.28. The ex-dividend date was Friday, March 14th. AMETEK's dividend payout ratio (DPR) is presently 20.91%.

About AMETEK

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.