AMETEK (NYSE:AME) Shares Gap Down - Here's What Happened

AMETEK, Inc. (NYSE:AME - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $170.11, but opened at $166.24. AMETEK shares last traded at $166.61, with a volume of 153,002 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Truist Financial cut their price target on shares of AMETEK from $204.00 to $201.00 and set a "buy" rating for the company in a report on Friday, August 2nd. Royal Bank of Canada reduced their price target on shares of AMETEK from $216.00 to $215.00 and set an "outperform" rating for the company in a research report on Friday, August 2nd. StockNews.com cut AMETEK from a "buy" rating to a "hold" rating in a report on Tuesday, August 6th. Robert W. Baird reduced their price objective on AMETEK from $171.00 to $166.00 and set a "neutral" rating for the company in a report on Wednesday, August 7th. Finally, Redburn Atlantic raised AMETEK to a "strong-buy" rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $190.83.

AMETEK Stock Down 2.1 %

The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76. The firm has a 50-day simple moving average of $166.34 and a two-hundred day simple moving average of $170.47. The company has a market cap of $38.55 billion, a PE ratio of 29.23, a P/E/G ratio of 2.81 and a beta of 1.17.

AMETEK (NYSE:AME - Get Free Report) last announced its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.02. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.57 EPS. Research analysts anticipate that AMETEK, Inc. will post 6.77 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.28 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.12 annualized dividend and a yield of 0.67%. AMETEK's dividend payout ratio (DPR) is presently 19.68%.

Insiders Place Their Bets

In other news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares of the company's stock, valued at $4,006,454.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.61% of the company's stock.

Institutional Investors Weigh In On AMETEK

Institutional investors have recently bought and sold shares of the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of AMETEK by 11.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,669,394 shares of the technology company's stock valued at $275,266,000 after buying an additional 167,602 shares during the period. Cim LLC acquired a new stake in AMETEK during the fourth quarter worth about $1,254,000. Nomura Holdings Inc. purchased a new position in shares of AMETEK in the 4th quarter worth about $768,000. Czech National Bank lifted its stake in shares of AMETEK by 8.6% in the 2nd quarter. Czech National Bank now owns 44,108 shares of the technology company's stock valued at $7,353,000 after purchasing an additional 3,499 shares in the last quarter. Finally, Duality Advisers LP purchased a new stake in shares of AMETEK during the 1st quarter worth about $1,676,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

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.