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AMETEK, Inc. (NYSE:AME – Get Rating) Director Gretchen W. Mcclain sold 2,720 shares of the business’s stock in a transaction dated Wednesday, December 28th. The stock was sold at an average price of $140.62, for a total value of $382,486.40. Following the transaction, the director now owns 14,704 shares of the company’s stock, valued at $2,067,676.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
AMETEK Stock Down 1.3 %
AMETEK stock traded down $1.77 during trading hours on Wednesday, hitting $138.36. The stock had a trading volume of 480,199 shares, compared to its average volume of 1,048,633. The stock’s 50-day moving average price is $136.15 and its 200-day moving average price is $124.32. AMETEK, Inc. has a 12-month low of $106.17 and a 12-month high of $148.07. The company has a quick ratio of 0.88, a current ratio of 1.53 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $31.77 billion, a P/E ratio of 28.29, a price-to-earnings-growth ratio of 2.58 and a beta of 1.24.
AMETEK (NYSE:AME – Get Rating) last released its quarterly earnings data on Tuesday, November 1st. The technology company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.08. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.51 billion. AMETEK had a return on equity of 18.40% and a net margin of 18.81%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 EPS. Equities research analysts anticipate that AMETEK, Inc. will post 5.63 EPS for the current fiscal year.
AMETEK Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, December 23rd. Shareholders of record on Wednesday, December 7th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Tuesday, December 6th. AMETEK’s dividend payout ratio (DPR) is 18.00%.
Hedge Funds Weigh In On AMETEK
Several hedge funds and other institutional investors have recently bought and sold shares of AME. Vanguard Group Inc. raised its holdings in shares of AMETEK by 0.6% during the third quarter. Vanguard Group Inc. now owns 24,971,365 shares of the technology company’s stock valued at $2,832,003,000 after purchasing an additional 150,835 shares during the last quarter. BlackRock Inc. raised its stake in AMETEK by 2.3% during the 3rd quarter. BlackRock Inc. now owns 15,773,719 shares of the technology company’s stock valued at $1,788,899,000 after buying an additional 357,665 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of AMETEK by 1.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,341,459 shares of the technology company’s stock valued at $946,005,000 after buying an additional 143,765 shares during the period. Alecta Tjanstepension Omsesidigt boosted its stake in shares of AMETEK by 3.2% in the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 4,834,365 shares of the technology company’s stock worth $548,410,000 after buying an additional 150,000 shares during the last quarter. Finally, Boston Partners increased its position in AMETEK by 4.7% during the third quarter. Boston Partners now owns 3,555,757 shares of the technology company’s stock valued at $403,458,000 after acquiring an additional 159,056 shares during the last quarter. Institutional investors own 85.42% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have recently issued reports on AME. Mizuho upped their price objective on AMETEK from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, November 2nd. StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a report on Tuesday, November 15th. Wells Fargo & Company dropped their target price on shares of AMETEK from $180.00 to $165.00 and set an “overweight” rating on the stock in a report on Monday, October 24th. KeyCorp increased their price target on shares of AMETEK from $145.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, November 21st. Finally, Royal Bank of Canada boosted their price objective on shares of AMETEK from $135.00 to $136.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 2nd. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $148.00.
AMETEK Company Profile
(Get Rating)
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.
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