Thomas A. Amato Sells 710 Shares of AMETEK, Inc. (NYSE:AME) Stock

AMETEK, Inc. (NYSE:AME - Get Free Report) Director Thomas A. Amato sold 710 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the completion of the transaction, the director now owns 10,560 shares in the company, valued at $1,865,318.40. The trade was a 6.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

AMETEK Trading Down 0.1 %

Shares of AMETEK stock traded down $0.18 during midday trading on Tuesday, reaching $171.96. 903,221 shares of the company's stock traded hands, compared to its average volume of 1,228,211. The stock has a 50 day moving average of $182.43 and a 200-day moving average of $181.06. AMETEK, Inc. has a 12 month low of $149.03 and a 12 month high of $198.33. The company has a market cap of $39.68 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24.

AMETEK (NYSE:AME - Get Free Report) last posted its earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.85 by $0.02. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The firm had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.82 billion. During the same period last year, the company posted $1.68 EPS. The company's quarterly revenue was up 1.8% compared to the same quarter last year. As a group, equities analysts expect that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

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AMETEK declared that its Board of Directors has approved a stock repurchase plan on Friday, February 7th that permits the company to buyback $1.25 billion in shares. This buyback authorization permits the technology company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its stock is undervalued.

AMETEK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from AMETEK's previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 0.72%. AMETEK's payout ratio is currently 20.91%.

Institutional Trading of AMETEK

A number of hedge funds have recently modified their holdings of the business. Oddo BHF Asset Management Sas bought a new stake in AMETEK during the third quarter worth about $3,724,000. Everence Capital Management Inc. purchased a new stake in shares of AMETEK in the 4th quarter worth approximately $999,000. Czech National Bank increased its position in AMETEK by 6.3% during the 4th quarter. Czech National Bank now owns 50,153 shares of the technology company's stock valued at $9,041,000 after buying an additional 2,987 shares in the last quarter. BNP Paribas Financial Markets raised its stake in AMETEK by 23.2% during the third quarter. BNP Paribas Financial Markets now owns 355,828 shares of the technology company's stock valued at $61,099,000 after buying an additional 67,025 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of AMETEK by 434.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company's stock worth $97,614,000 after acquiring an additional 440,197 shares during the last quarter. Institutional investors own 87.43% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AME shares. Truist Financial lifted their price target on shares of AMETEK from $221.00 to $222.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. StockNews.com cut AMETEK from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Bank of America upgraded AMETEK from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $195.00 to $225.00 in a research report on Monday, December 16th. BNP Paribas raised shares of AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price objective for the company in a research note on Thursday, January 16th. Finally, Robert W. Baird decreased their price objective on AMETEK from $200.00 to $197.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AMETEK has an average rating of "Moderate Buy" and a consensus target price of $204.67.

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.