Insider Selling: AMETEK, Inc. (NYSE:AME) Director Sells 780 Shares of Stock

AMETEK, Inc. (NYSE:AME) Director Thomas A. Amato sold 780 shares of AMETEK stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total value of $141,960.00. Following the completion of the sale, the director now owns 10,240 shares of the company’s stock, valued at $1,863,680. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

AMETEK Stock Up 1.1 %

NYSE AME opened at $183.72 on Thursday. The stock’s 50 day moving average is $173.80 and its 200 day moving average is $160.81. The company has a current ratio of 0.98, a quick ratio of 0.59 and a debt-to-equity ratio of 0.22. AMETEK, Inc. has a 12 month low of $133.12 and a 12 month high of $186.32. The stock has a market cap of $42.48 billion, a PE ratio of 32.40, a P/E/G ratio of 2.92 and a beta of 1.22.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.06. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.73 billion. AMETEK had a return on equity of 17.96% and a net margin of 19.91%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.52 EPS. Research analysts predict that AMETEK, Inc. will post 6.82 EPS for the current fiscal year.

AMETEK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 8th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. This is a boost from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Thursday, March 7th. AMETEK’s dividend payout ratio is 19.75%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank of Canada reduced their price objective on AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Truist Financial started coverage on AMETEK in a research note on Thursday, March 14th. They set a “buy” rating and a $210.00 price target for the company. KeyCorp boosted their price target on AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Finally, StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $180.78.

Institutional Trading of AMETEK

Several hedge funds have recently modified their holdings of the company. M&T Bank Corp increased its position in shares of AMETEK by 0.5% during the 4th quarter. M&T Bank Corp now owns 15,442 shares of the technology company’s stock valued at $2,547,000 after purchasing an additional 73 shares during the last quarter. Provence Wealth Management Group increased its position in shares of AMETEK by 5.5% during the 4th quarter. Provence Wealth Management Group now owns 1,435 shares of the technology company’s stock valued at $237,000 after purchasing an additional 75 shares during the last quarter. SeaCrest Wealth Management LLC increased its position in shares of AMETEK by 1.5% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 5,660 shares of the technology company’s stock valued at $836,000 after purchasing an additional 82 shares during the last quarter. Metis Global Partners LLC increased its position in shares of AMETEK by 0.5% during the 4th quarter. Metis Global Partners LLC now owns 15,934 shares of the technology company’s stock valued at $2,627,000 after purchasing an additional 82 shares during the last quarter. Finally, CreativeOne Wealth LLC increased its position in shares of AMETEK by 3.3% during the 4th quarter. CreativeOne Wealth LLC now owns 2,548 shares of the technology company’s stock valued at $356,000 after purchasing an additional 82 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

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.