AMETEK, Inc. (NYSE:AME) announced a quarterly dividend on Wednesday, February 12th, RTT News reports. Shareholders of record on Friday, March 13th will be paid a dividend of 0.18 per share by the technology company on Tuesday, March 31st. This represents a $0.72 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Thursday, March 12th. This is a positive change from AMETEK’s previous quarterly dividend of $0.14.
AMETEK has increased its dividend by an average of 15.9% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. AMETEK has a payout ratio of 12.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AMETEK to earn $4.60 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 12.2%.
Shares of NYSE:AME opened at $101.44 on Friday. The company’s fifty day moving average is $100.02 and its two-hundred day moving average is $93.66. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 0.44. AMETEK has a 12-month low of $77.88 and a 12-month high of $102.31. The company has a market cap of $22.54 billion, a P/E ratio of 27.05, a price-to-earnings-growth ratio of 2.20 and a beta of 1.20.
AMETEK (NYSE:AME) last posted its quarterly earnings results on Wednesday, February 5th. The technology company reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.05. AMETEK had a net margin of 16.70% and a return on equity of 20.14%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the business posted $0.86 earnings per share. AMETEK’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities research analysts anticipate that AMETEK will post 4.33 earnings per share for the current year.
In other AMETEK news, CFO William Joseph Burke sold 12,510 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $98.51, for a total value of $1,232,360.10. Following the transaction, the chief financial officer now directly owns 81,526 shares of the company’s stock, valued at $8,031,126.26. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ruby R. Chandy sold 3,376 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $99.98, for a total transaction of $337,532.48. Following the completion of the transaction, the director now directly owns 16,920 shares in the company, valued at $1,691,661.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,946 shares of company stock worth $2,569,498. Insiders own 0.80% of the company’s stock.
AME has been the subject of a number of recent research reports. Cowen cut shares of AMETEK from an “outperform” rating to a “market perform” rating in a report on Monday, January 13th. ValuEngine cut shares of AMETEK from a “hold” rating to a “sell” rating in a report on Tuesday, January 14th. Morgan Stanley reduced their target price on shares of AMETEK from $109.00 to $107.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Gordon Haskett started coverage on shares of AMETEK in a research note on Wednesday, November 27th. They issued a “buy” rating and a $125.00 target price for the company. Finally, Stephens increased their target price on shares of AMETEK from $113.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $103.40.
AMETEK Company Profile
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.
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