Insider Selling: AMETEK, Inc. (NYSE:AME) Insider Sells 6,747 Shares of Stock

AMETEK, Inc. (NYSE:AME) insider Emanuela Speranza sold 6,747 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the transaction, the insider now owns 30,460 shares in the company, valued at $5,967,114. This represents a 18.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

AMETEK Stock Performance

AMETEK stock traded down $1.10 during midday trading on Wednesday, hitting $195.92. The stock had a trading volume of 236,154 shares, compared to its average volume of 1,151,943. The firm’s fifty day moving average is $177.61 and its two-hundred day moving average is $171.09. The company has a market capitalization of $45.32 billion, a PE ratio of 34.29, a P/E/G ratio of 3.22 and a beta of 1.16. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week high of $198.33. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

AMETEK (NYSE:AME) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.04. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.64 EPS. On average, research analysts forecast that AMETEK, Inc. will post 6.8 EPS for the current year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Friday, December 6th. AMETEK’s dividend payout ratio (DPR) is currently 19.51%.

Institutional Investors Weigh In On AMETEK

A number of institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its holdings in AMETEK by 7.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,373,684 shares of the technology company’s stock valued at $235,683,000 after buying an additional 96,316 shares in the last quarter. Peapack Gladstone Financial Corp grew its holdings in AMETEK by 3.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 33,034 shares of the technology company’s stock valued at $5,672,000 after buying an additional 958 shares in the last quarter. Tidal Investments LLC grew its holdings in AMETEK by 27.0% during the 3rd quarter. Tidal Investments LLC now owns 11,938 shares of the technology company’s stock valued at $2,050,000 after buying an additional 2,540 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in AMETEK during the 3rd quarter valued at approximately $2,336,000. Finally, Anchor Investment Management LLC grew its holdings in AMETEK by 366.1% during the 3rd quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock valued at $45,000 after buying an additional 205 shares in the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AME shares. Royal Bank of Canada lowered their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Truist Financial upped their price target on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research report on Friday, November 1st. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Robert W. Baird upped their price target on shares of AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $199.29.

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.