AMETEK, Inc. (NYSE:AME) VP Thomas M. Montgomery Sells 6,891 Shares

AMETEK, Inc. (NYSE:AME) VP Thomas M. Montgomery sold 6,891 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $185.38, for a total value of $1,277,453.58. Following the completion of the sale, the vice president now directly owns 21,543 shares of the company’s stock, valued at approximately $3,993,641.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

AMETEK Trading Up 1.1 %

AME opened at $183.72 on Thursday. AMETEK, Inc. has a 52 week low of $133.12 and a 52 week high of $186.32. The business has a fifty day simple moving average of $173.80 and a 200-day simple moving average of $160.81. The firm has a market cap of $42.48 billion, a P/E ratio of 32.40, a P/E/G ratio of 2.92 and a beta of 1.22. The company has a quick ratio of 0.59, a current ratio of 0.98 and a debt-to-equity ratio of 0.22.

AMETEK (NYSE:AME) last released its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.62 by $0.06. AMETEK had a return on equity of 17.96% and a net margin of 19.91%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the business posted $1.52 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities analysts expect that AMETEK, Inc. will post 6.82 earnings per share for the current year.

AMETEK Increases Dividend

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

Analysts Set New Price Targets

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

Institutional Trading of AMETEK

Several hedge funds have recently modified their holdings of AME. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of AMETEK in the fourth quarter valued at $25,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of AMETEK in the fourth quarter valued at $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of AMETEK in the fourth quarter valued at $26,000. Bruce G. Allen Investments LLC acquired a new stake in shares of AMETEK in the fourth quarter valued at $28,000. Finally, Covestor Ltd raised its stake in shares of AMETEK by 84.3% in the first quarter. Covestor Ltd now owns 212 shares of the technology company’s stock valued at $28,000 after acquiring an additional 97 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Company Profile

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.