AMETEK, Inc. (NYSE:AME) Insider Tony J. Ciampitti Sells 16,210 Shares

AMETEK, Inc. (NYSE:AME) insider Tony J. Ciampitti sold 16,210 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the completion of the transaction, the insider now owns 49,490 shares in the company, valued at $9,750,024.90. This trade represents a 24.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

AMETEK Price Performance

Shares of AMETEK stock opened at $197.12 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $198.33. The stock’s 50-day simple moving average is $177.04 and its 200-day simple moving average is $170.91. The company has a market capitalization of $45.60 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 3.22 and a beta of 1.16.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.04. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.64 EPS. As a group, analysts expect that AMETEK, Inc. will post 6.8 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, December 6th. This represents a $1.12 annualized dividend and a yield of 0.57%. AMETEK’s payout ratio is 19.51%.

Institutional Trading of AMETEK

Hedge funds have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. lifted its position 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 worth $34,000 after buying an additional 77 shares in the last quarter. Family Firm Inc. bought a new stake in AMETEK in the 2nd quarter worth approximately $39,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of AMETEK during the 2nd quarter worth approximately $42,000. Princeton Global Asset Management LLC bought a new position in shares of AMETEK during the 3rd quarter valued at approximately $44,000. Finally, Anchor Investment Management LLC grew its holdings in shares of AMETEK by 366.1% in the third quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock valued at $45,000 after purchasing an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Robert W. Baird upped their target price on shares of AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Truist Financial upped their price objective on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Mizuho boosted their price target on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, TD Cowen cut AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $199.29.

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.