AMETEK, Inc. (NYSE:AME - Get Free Report) Director Thomas A. Amato sold 710 shares of the business's stock in a transaction that occurred 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 sale, the director now directly owns 10,560 shares in the company, valued at approximately $1,865,318.40. The trade was a 6.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
AMETEK Price Performance
Shares of NYSE:AME opened at $170.25 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75. The stock has a market capitalization of $39.28 billion, a P/E ratio of 28.71, a P/E/G ratio of 2.73 and a beta of 1.14. The business has a 50-day moving average of $182.60 and a two-hundred day moving average of $180.80. AMETEK, Inc. has a fifty-two week low of $149.03 and a fifty-two week high of $198.33.
AMETEK (NYSE:AME - Get Free Report) last announced 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 the consensus estimate of $1.82 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The company's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.68 earnings per share. On average, equities research analysts predict that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.
AMETEK Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.31 dividend. This is an increase from AMETEK's previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Friday, March 14th. AMETEK's payout ratio is currently 20.91%.
AMETEK announced that its Board of Directors has authorized a share repurchase plan on Friday, February 7th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the technology company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.
Analyst Ratings Changes
Several equities research analysts have commented on the stock. Bank of America upgraded shares of AMETEK from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $195.00 to $225.00 in a research report on Monday, December 16th. Truist Financial upped their price objective on shares of AMETEK from $221.00 to $222.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. BNP Paribas upgraded AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 target price for the company in a report on Thursday, January 16th. StockNews.com cut shares of AMETEK from a "buy" rating to a "hold" rating in a report on Wednesday. Finally, Robert W. Baird reduced their price objective on AMETEK from $200.00 to $197.00 and set a "neutral" rating for the company in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $204.67.
Read Our Latest Report on AME
Institutional Trading of AMETEK
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. lifted its stake in shares of AMETEK by 62.6% in the third quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company's stock valued at $34,000 after buying an additional 77 shares during the period. Versant Capital Management Inc lifted its position in shares of AMETEK by 3,116.7% in the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company's stock worth $35,000 after acquiring an additional 187 shares during the period. Banque Transatlantique SA acquired a new stake in shares of AMETEK during the 4th quarter worth approximately $37,000. AdvisorNet Financial Inc grew its holdings in shares of AMETEK by 1,176.5% during the 4th quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company's stock worth $39,000 after purchasing an additional 200 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in shares of AMETEK by 42.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company's stock valued at $42,000 after purchasing an additional 70 shares during the period. 87.43% of the stock is currently owned by institutional investors and hedge funds.
AMETEK Company Profile
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Get Free Report)
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.
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