AMETEK, Inc. (NYSE:AME) Short Interest Update

AMETEK, Inc. (NYSE:AME) saw a large growth in short interest in June. As of June 15th, there was short interest totalling 4,430,000 shares, a growth of 42.9% from the May 31st total of 3,100,000 shares. Currently, 1.9% of the company’s stock are sold short. Based on an average daily trading volume, of 1,110,000 shares, the short-interest ratio is presently 4.0 days.

Insider Activity at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,470 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following the sale, the director now owns 26,249 shares in the company, valued at $4,467,579.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Steven W. Kohlhagen sold 1,470 shares of AMETEK stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total transaction of $250,194.00. Following the completion of the sale, the director now directly owns 26,249 shares in the company, valued at $4,467,579.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven W. Kohlhagen sold 1,440 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the sale, the director now owns 24,809 shares in the company, valued at approximately $4,315,029.37. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AMETEK

Institutional investors have recently added to or reduced their stakes in the stock. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of AMETEK in the 4th quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. purchased a new position in AMETEK in the fourth quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in AMETEK during the fourth quarter worth $26,000. Bruce G. Allen Investments LLC purchased a new stake in AMETEK in the fourth quarter valued at $28,000. Finally, Rakuten Securities Inc. acquired a new position in shares of AMETEK in the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Price Performance

NYSE AME traded down $1.14 during mid-day trading on Monday, hitting $165.57. The stock had a trading volume of 935,358 shares, compared to its average volume of 1,058,687. The firm’s 50 day moving average is $170.61 and its 200 day moving average is $171.74. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66. The stock has a market capitalization of $38.32 billion, a price-to-earnings ratio of 29.10, a PEG ratio of 2.67 and a beta of 1.18. AMETEK has a twelve month low of $136.89 and a twelve month high of $186.32.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.49 earnings per share. Equities research analysts forecast that AMETEK will post 6.83 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $0.28 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

Wall Street Analysts Forecast Growth

AME has been the subject of a number of recent analyst reports. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Truist Financial started coverage on AMETEK in a research report on Thursday, March 14th. They set a “buy” rating and a $210.00 price target on the stock. Robert W. Baird dropped their price objective on AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Finally, Oppenheimer raised AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a research note on Wednesday, May 22nd. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $181.80.

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.