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

AMETEK, Inc. (NYSE:AME - Get Free Report) was the target of a large drop in short interest in July. As of July 31st, there was short interest totalling 2,460,000 shares, a drop of 11.5% from the July 15th total of 2,780,000 shares. Based on an average trading volume of 1,320,000 shares, the days-to-cover ratio is currently 1.9 days. Approximately 1.1% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AME. StockNews.com downgraded shares of AMETEK from a "buy" rating to a "hold" rating in a research note on Tuesday, August 6th. Truist Financial reduced their price target on shares of AMETEK from $204.00 to $201.00 and set a "buy" rating on the stock in a research report on Friday, August 2nd. Redburn Atlantic upgraded AMETEK to a "strong-buy" rating in a research report on Friday, August 2nd. Royal Bank of Canada decreased their price target on AMETEK from $216.00 to $215.00 and set an "outperform" rating on the stock in a research note on Friday, August 2nd. Finally, Robert W. Baird cut their price objective on AMETEK from $171.00 to $166.00 and set a "neutral" rating for the company in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $186.29.

Insider Buying and Selling at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the firm's stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the transaction, the director now directly owns 24,809 shares of the company's stock, valued at approximately $4,315,029.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.61% of the company's stock.

Institutional Investors Weigh In On AMETEK

A number of hedge funds have recently added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. acquired a new position in AMETEK during the fourth quarter worth about $25,000. Rakuten Securities Inc. acquired a new stake in shares of AMETEK in the 4th quarter worth approximately $31,000. Washington Trust Advisors Inc. purchased a new position in AMETEK in the 1st quarter valued at approximately $37,000. Family Firm Inc. acquired a new position in AMETEK during the second quarter worth $39,000. Finally, Industrial Alliance Investment Management Inc. purchased a new stake in AMETEK during the second quarter worth $42,000. Institutional investors and hedge funds own 87.43% of the company's stock.

AMETEK Stock Down 0.3 %

Shares of NYSE AME traded down $0.46 during mid-day trading on Friday, reaching $162.69. The company had a trading volume of 1,039,517 shares, compared to its average volume of 1,133,188. AMETEK has a 52-week low of $136.89 and a 52-week high of $186.32. The company has a current ratio of 1.26, a quick ratio of 0.66 and a debt-to-equity ratio of 0.20. The stock has a market cap of $37.66 billion, a P/E ratio of 28.59, a PEG ratio of 2.57 and a beta of 1.18. The firm has a 50 day simple moving average of $167.07 and a two-hundred day simple moving average of $172.30.

AMETEK (NYSE:AME - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.64 by $0.02. The company had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. 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 business earned $1.57 earnings per share. Sell-side analysts predict that AMETEK will post 6.78 earnings per share for the current year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.28 per share. The ex-dividend date is Monday, September 16th. This represents a $1.12 annualized dividend and a yield of 0.69%. AMETEK's dividend payout ratio is currently 19.68%.

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.