AMETEK, Inc. (NYSE:AME) Insider Sells $3,193,532.10 in Stock

AMETEK, Inc. (NYSE:AME) insider Tony J. Ciampitti sold 16,210 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the sale, the insider now owns 49,490 shares of the company’s stock, valued at $9,750,024.90. This trade represents a 24.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

AMETEK Stock Performance

NYSE:AME opened at $195.13 on Thursday. The company has a market cap of $45.14 billion, a price-to-earnings ratio of 33.99, a PEG ratio of 3.22 and a beta of 1.16. AMETEK, Inc. has a 1 year low of $149.03 and a 1 year high of $198.33. The stock’s 50 day simple moving average is $178.12 and its two-hundred day simple moving average is $171.26. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the firm earned $1.64 earnings per share. AMETEK’s revenue was up 5.3% on a year-over-year basis. As a group, equities analysts anticipate that AMETEK, Inc. will post 6.8 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Friday, December 6th. AMETEK’s dividend payout ratio is presently 19.51%.

Hedge Funds Weigh In On AMETEK

A number of institutional investors have recently modified their holdings of AME. State Street Corp grew its position in shares of AMETEK by 0.3% during the 3rd quarter. State Street Corp now owns 9,220,376 shares of the technology company’s stock worth $1,583,231,000 after buying an additional 24,072 shares in the last quarter. Geode Capital Management LLC lifted its stake in AMETEK by 0.8% in the third quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company’s stock worth $924,308,000 after acquiring an additional 45,459 shares during the period. Bank of New York Mellon Corp grew its holdings in AMETEK by 34.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock worth $600,615,000 after acquiring an additional 926,657 shares in the last quarter. Boston Partners increased its position in AMETEK by 3.0% during the 1st quarter. Boston Partners now owns 3,063,588 shares of the technology company’s stock valued at $560,278,000 after purchasing an additional 90,271 shares during the period. Finally, EdgePoint Investment Group Inc. raised its holdings in shares of AMETEK by 87.9% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock valued at $337,279,000 after purchasing an additional 918,737 shares in the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AME shares. Truist Financial upped their price objective on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Wolfe Research upgraded AMETEK to a “hold” rating in a research report on Wednesday, September 18th. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Mizuho raised their target price on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AMETEK has a consensus rating of “Moderate Buy” and a consensus target price of $199.29.

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.