Insider Selling: AMETEK, Inc. (NYSE:AME) Director Sells $250,459.20 in Stock

AMETEK, Inc. (NYSE:AME) Director Steven W. Kohlhagen sold 1,440 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total value of $250,459.20. Following the transaction, the director now owns 24,809 shares in the company, valued at approximately $4,315,029.37. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

AMETEK Price Performance

AME stock opened at $167.02 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 1.11. The stock’s 50 day moving average price is $172.72 and its 200 day moving average price is $170.82. The firm has a market cap of $38.66 billion, a P/E ratio of 29.35, a PEG ratio of 2.78 and a beta of 1.20. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the company earned $1.49 earnings per share. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, sell-side analysts expect that AMETEK, Inc. will post 6.83 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. AMETEK’s dividend payout ratio (DPR) is currently 19.68%.

Analyst Ratings Changes

AME has been the subject of several research analyst reports. KeyCorp increased their price objective on AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Oppenheimer raised shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a report on Wednesday, May 22nd. Truist Financial assumed coverage on shares of AMETEK in a research report on Thursday, March 14th. They set a “buy” rating and a $210.00 price target for the company. Finally, Robert W. Baird lowered their price target on AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.80.

Institutional Trading of AMETEK

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Atria Wealth Solutions Inc. boosted its holdings in shares of AMETEK by 13.7% during the third quarter. Atria Wealth Solutions Inc. now owns 3,992 shares of the technology company’s stock worth $590,000 after purchasing an additional 481 shares during the last quarter. HighTower Advisors LLC lifted its position in AMETEK by 4.6% during the third quarter. HighTower Advisors LLC now owns 65,376 shares of the technology company’s stock worth $9,655,000 after buying an additional 2,863 shares during the period. Greenleaf Trust boosted its stake in AMETEK by 2.6% in the 3rd quarter. Greenleaf Trust now owns 4,037 shares of the technology company’s stock worth $597,000 after buying an additional 102 shares during the last quarter. Rhumbline Advisers grew its holdings in AMETEK by 7.2% in the 3rd quarter. Rhumbline Advisers now owns 501,564 shares of the technology company’s stock valued at $74,111,000 after buying an additional 33,725 shares during the period. Finally, Aviva PLC increased its stake in shares of AMETEK by 10.6% during the 3rd quarter. Aviva PLC now owns 20,038 shares of the technology company’s stock valued at $2,961,000 after acquiring an additional 1,913 shares during the last quarter. 87.43% of the stock is 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.