AMETEK, Inc. to Issue Quarterly Dividend of $0.31 (NYSE:AME)

AMETEK, Inc. (NYSE:AME) declared a quarterly dividend on Thursday, May 8th, RTT News reports. Shareholders of record on Friday, June 13th will be paid a dividend of 0.31 per share by the technology company on Monday, June 30th. This represents a $1.24 annualized dividend and a yield of 0.72%.

AMETEK has increased its dividend by an average of 11.9% per year over the last three years. AMETEK has a dividend payout ratio of 16.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect AMETEK to earn $7.73 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 16.0%.

AMETEK Stock Up 1.1 %

Shares of NYSE:AME opened at $171.57 on Friday. The firm has a market cap of $39.61 billion, a P/E ratio of 28.93, a P/E/G ratio of 2.73 and a beta of 1.12. The business has a fifty day simple moving average of $168.74 and a 200 day simple moving average of $179.36. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15. AMETEK has a 12-month low of $145.02 and a 12-month high of $198.33.

AMETEK (NYSE:AME) last released its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.06. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the firm posted $1.64 EPS. The company’s revenue for the quarter was down .2% compared to the same quarter last year. Analysts predict that AMETEK will post 7.15 earnings per share for the current year.

AMETEK announced that its Board of Directors has authorized a share buyback program on Friday, February 7th that allows the company to buyback $1.25 billion in shares. This buyback authorization allows the technology company to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AME shares. Robert W. Baird cut their target price on AMETEK from $197.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday. Royal Bank of Canada raised their price target on shares of AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Truist Financial raised their target price on AMETEK from $196.00 to $200.00 and gave the company a “buy” rating in a research note on Monday. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a report on Friday, April 11th. Finally, Morgan Stanley initiated coverage on AMETEK in a research note on Monday, April 14th. They issued an “equal weight” rating and a $170.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AMETEK currently has a consensus rating of “Moderate Buy” and a consensus price target of $196.90.

Insider Buying and Selling

In other news, Director Thomas A. Amato sold 710 shares of AMETEK stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the transaction, the director now owns 10,560 shares in the company, valued at approximately $1,865,318.40. The trade was a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,320 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the transaction, the director now owns 22,029 shares in the company, valued at approximately $4,172,512.89. The trade was a 5.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

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.