Insider Selling: AMETEK, Inc. (NYSE:AME) Insider Sells 6,243 Shares of Stock

AMETEK, Inc. (NYSE:AME) insider David F. Hermance sold 6,243 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the completion of the transaction, the insider now owns 36,731 shares of the company’s stock, valued at $7,015,253.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

AMETEK Price Performance

Shares of NYSE:AME opened at $195.42 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $196.70. The firm has a market cap of $45.20 billion, a PE ratio of 34.05, a price-to-earnings-growth ratio of 3.17 and a beta of 1.16. The firm’s fifty day moving average is $171.87 and its 200-day moving average is $169.36.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.62 by $0.04. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.64 EPS. Sell-side analysts predict that AMETEK, Inc. will post 6.81 earnings per share for the current year.

AMETEK Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 annualized dividend and a yield of 0.57%. AMETEK’s payout ratio is 19.51%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AME shares. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Mizuho upped their price objective on AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Wolfe Research raised AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Robert W. Baird raised their price target on shares of AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Truist Financial increased their price objective on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $197.86.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AME. JPMorgan Chase & Co. raised its stake in AMETEK by 48.4% during the first quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock worth $1,294,121,000 after buying an additional 2,306,535 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of AMETEK by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company’s stock worth $1,195,478,000 after acquiring an additional 44,899 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of AMETEK by 34.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after purchasing an additional 926,657 shares during the period. Boston Partners boosted its position in shares of AMETEK by 3.0% during the 1st quarter. Boston Partners now owns 3,063,588 shares of the technology company’s stock valued at $560,278,000 after purchasing an additional 90,271 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in AMETEK by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,882,166 shares of the technology company’s stock worth $313,777,000 after purchasing an additional 148,447 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

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.