AMETEK, Inc. Declares Quarterly Dividend of $0.28 (NYSE:AME)

AMETEK, Inc. (NYSE:AME - Get Free Report) declared a quarterly dividend on Friday, November 8th,RTT News reports. Investors of record on Friday, December 6th will be paid a dividend of 0.28 per share by the technology company on Friday, December 20th. This represents a $1.12 annualized dividend and a yield of 0.59%.

AMETEK has increased its dividend by an average of 11.6% annually over the last three years. AMETEK has a payout ratio of 15.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AMETEK to earn $7.29 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 15.4%.

AMETEK Stock Up 1.1 %

Shares of NYSE AME traded up $2.05 during mid-day trading on Friday, reaching $191.00. 830,542 shares of the company traded hands, compared to its average volume of 1,146,481. The company's fifty day moving average is $170.91 and its two-hundred day moving average is $169.29. The stock has a market cap of $44.18 billion, a PE ratio of 33.28, a price-to-earnings-growth ratio of 2.94 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. AMETEK has a fifty-two week low of $147.12 and a fifty-two week high of $192.20.

AMETEK (NYSE:AME - Get Free Report) last announced its earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the company posted $1.64 EPS. The business's quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts expect that AMETEK will post 6.81 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the business's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the transaction, the director now directly owns 23,349 shares of the company's stock, valued at approximately $4,006,454.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Royal Bank of Canada dropped their price objective on AMETEK from $216.00 to $215.00 and set an "outperform" rating on the stock in a research note on Friday, August 2nd. StockNews.com raised shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Monday. Truist Financial upped their price objective on AMETEK from $219.00 to $221.00 and gave the company a "buy" rating in a research report on Friday, November 1st. TD Cowen lowered AMETEK from a "hold" rating to a "sell" rating in a research note on Monday, October 7th. Finally, Mizuho lifted their price target on shares of AMETEK from $190.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $197.86.

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.