AMETEK, Inc. (NYSE:AME) Director Elizebeth R. Varet sold 3,000 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $85.80, for a total transaction of $257,400.00. Following the completion of the sale, the director now owns 101,670 shares in the company, valued at approximately $8,723,286. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
AME stock traded down $0.44 during midday trading on Friday, hitting $85.24. 44,505 shares of the stock traded hands, compared to its average volume of 1,059,891. The firm has a market cap of $19.52 billion, a PE ratio of 25.88, a P/E/G ratio of 2.18 and a beta of 1.21. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.27 and a current ratio of 1.91. AMETEK, Inc. has a 1-year low of $63.14 and a 1-year high of $88.76.
AMETEK (NYSE:AME) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.03. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. AMETEK had a net margin of 16.14% and a return on equity of 18.56%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business earned $0.79 earnings per share. Research analysts predict that AMETEK, Inc. will post 4.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.56 annualized dividend and a yield of 0.66%. AMETEK’s dividend payout ratio is presently 17.02%.
AME has been the topic of a number of research reports. DA Davidson increased their price objective on shares of AMETEK to $101.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Morgan Stanley set a $95.00 price objective on shares of AMETEK and gave the stock a “buy” rating in a research note on Friday, May 3rd. KeyCorp increased their price objective on shares of AMETEK from $86.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. ValuEngine upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Finally, Vertical Research reiterated a “buy” rating on shares of AMETEK in a research note on Friday, May 3rd. Fifteen equities research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average price target of $91.50.
Hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Advisors Inc. lifted its holdings in AMETEK by 55.2% during the first quarter. Cornerstone Advisors Inc. now owns 388 shares of the technology company’s stock valued at $32,000 after purchasing an additional 138 shares in the last quarter. ETF Managers Group LLC lifted its stake in shares of AMETEK by 7.9% in the first quarter. ETF Managers Group LLC now owns 1,890 shares of the technology company’s stock worth $157,000 after buying an additional 139 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of AMETEK by 1.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 12,665 shares of the technology company’s stock worth $857,000 after buying an additional 143 shares in the last quarter. Sapience Investments LLC lifted its stake in shares of AMETEK by 0.4% in the first quarter. Sapience Investments LLC now owns 39,405 shares of the technology company’s stock worth $3,269,000 after buying an additional 155 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in shares of AMETEK by 8.2% in the first quarter. Advisors Asset Management Inc. now owns 2,172 shares of the technology company’s stock worth $180,000 after buying an additional 164 shares in the last quarter. Institutional investors own 85.92% of the company’s stock.
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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.
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