Steven W. Kohlhagen Sells 1,320 Shares of AMETEK, Inc. (NYSE:AME) Stock

AMETEK, Inc. (NYSE:AME) Director Steven W. Kohlhagen sold 1,320 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the sale, the director now owns 22,029 shares of the company’s stock, valued at approximately $4,172,512.89. This represents a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

AMETEK Stock Down 1.6 %

Shares of AME opened at $186.31 on Tuesday. The business’s 50 day simple moving average is $183.34 and its 200-day simple moving average is $179.48. AMETEK, Inc. has a one year low of $149.03 and a one year high of $198.33. The company has a market capitalization of $42.97 billion, a P/E ratio of 31.42, a PEG ratio of 2.73 and a beta of 1.16. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75.

AMETEK (NYSE:AME) last issued its earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the firm earned $1.68 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, sell-side analysts predict that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK declared that its board has authorized a stock buyback plan on Friday, February 7th that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the technology company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from AMETEK’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.67%. AMETEK’s dividend payout ratio is 20.91%.

Analysts Set New Price Targets

Several brokerages recently weighed in on AME. BNP Paribas raised shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research report on Thursday, January 16th. KeyCorp lifted their price objective on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday. Robert W. Baird reduced their price target on AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Finally, Truist Financial increased their price objective on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $204.67.

Hedge Funds Weigh In On AMETEK

Institutional investors and hedge funds have recently modified their holdings of the business. Financial Advocates Investment Management lifted its position in AMETEK by 5.9% in the 3rd quarter. Financial Advocates Investment Management now owns 2,183 shares of the technology company’s stock valued at $375,000 after acquiring an additional 122 shares in the last quarter. US Bancorp DE lifted its holdings in shares of AMETEK by 12.3% in the third quarter. US Bancorp DE now owns 36,695 shares of the technology company’s stock valued at $6,301,000 after purchasing an additional 4,022 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of AMETEK by 8.2% during the third quarter. Chicago Partners Investment Group LLC now owns 2,113 shares of the technology company’s stock worth $352,000 after buying an additional 161 shares during the period. Princeton Global Asset Management LLC bought a new position in shares of AMETEK during the third quarter worth about $44,000. Finally, National Pension Service grew its stake in shares of AMETEK by 2.9% during the 3rd quarter. National Pension Service now owns 608,954 shares of the technology company’s stock worth $104,563,000 after acquiring an additional 17,148 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

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.