Teacher Retirement System of Texas lowered its position in shares of AMETEK, Inc. (NYSE:AME) by 4.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 219,842 shares of the technology company’s stock after selling 10,774 shares during the quarter. Teacher Retirement System of Texas’ holdings in AMETEK were worth $18,240,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc raised its holdings in AMETEK by 0.6% during the 3rd quarter. Vanguard Group Inc now owns 23,495,237 shares of the technology company’s stock worth $1,858,943,000 after buying an additional 137,102 shares during the period. FMR LLC increased its holdings in AMETEK by 4.2% during the 4th quarter. FMR LLC now owns 9,274,980 shares of the technology company’s stock valued at $627,916,000 after acquiring an additional 372,219 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in AMETEK by 5.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,833,525 shares of the technology company’s stock valued at $394,929,000 after acquiring an additional 303,284 shares in the last quarter. American Century Companies Inc. increased its holdings in AMETEK by 4.8% during the 4th quarter. American Century Companies Inc. now owns 4,442,960 shares of the technology company’s stock valued at $300,788,000 after acquiring an additional 205,034 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in AMETEK by 0.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,290,794 shares of the technology company’s stock valued at $260,369,000 after acquiring an additional 19,367 shares in the last quarter. Institutional investors own 85.72% of the company’s stock.
AME has been the subject of several recent research reports. BMO Capital Markets restated a “buy” rating and set a $90.00 target price on shares of AMETEK in a report on Tuesday, January 29th. Zacks Investment Research upgraded AMETEK from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a report on Friday, February 8th. DA Davidson boosted their price objective on AMETEK to $92.00 and gave the stock a “buy” rating in a report on Friday, March 15th. ValuEngine upgraded AMETEK from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Finally, KeyCorp boosted their price objective on AMETEK from $86.00 to $94.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Fifteen analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average price target of $91.00.
NYSE AME traded down $0.11 on Friday, hitting $86.48. 8,810 shares of the company were exchanged, compared to its average volume of 965,889. The company has a current ratio of 1.91, a quick ratio of 1.27 and a debt-to-equity ratio of 0.53. The company has a market cap of $19.54 billion, a PE ratio of 26.19, a PEG ratio of 2.18 and a beta of 1.21. AMETEK, Inc. has a twelve month low of $63.14 and a twelve month high of $88.76.
AMETEK (NYSE:AME) last issued its earnings results on Wednesday, May 1st. The technology company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. AMETEK had a return on equity of 18.56% and a net margin of 16.14%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 EPS. Research analysts forecast that AMETEK, Inc. will post 4.07 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.65%. AMETEK’s dividend payout ratio is 17.02%.
AMETEK announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 13th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
WARNING: This article was first posted by Ticker Report and is owned by of Ticker Report. If you are reading this article on another publication, it was stolen and reposted in violation of US & international copyright and trademark laws. The original version of this article can be accessed at https://www.tickerreport.com/banking-finance/4344583/teacher-retirement-system-of-texas-has-18-24-million-holdings-in-ametek-inc-ame.html.
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.
Featured Article: How is Preferred Stock Different from Common Stock?
Want to see what other hedge funds are holding AME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AMETEK, Inc. (NYSE:AME).
Receive News & Ratings for AMETEK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMETEK and related companies with MarketBeat.com's FREE daily email newsletter.