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 firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total value of $1,321,737.30. Following the completion of the sale, the insider now directly owns 30,460 shares of the company’s stock, valued at approximately $5,967,114. The trade was a 18.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

AMETEK Stock Down 1.0 %

NYSE AME opened at $195.10 on Friday. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The company has a market cap of $45.13 billion, a price-to-earnings ratio of 33.99, a PEG ratio of 3.22 and a beta of 1.16. The company has a 50 day moving average of $178.58 and a 200-day moving average of $171.43. AMETEK, Inc. has a 1-year low of $149.03 and a 1-year high of $198.33.

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

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, December 6th. AMETEK’s payout ratio is presently 19.51%.

Wall Street Analysts Forecast Growth

AME has been the subject of several research reports. Truist Financial raised their price target on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Royal Bank of Canada cut their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Robert W. Baird boosted their price objective on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $199.29.

Institutional Trading of AMETEK

Institutional investors and hedge funds have recently made changes to their positions in the company. Itau Unibanco Holding S.A. boosted its holdings in shares of AMETEK by 62.6% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock valued at $34,000 after purchasing an additional 77 shares in the last quarter. Family Firm Inc. acquired a new stake in AMETEK in the second quarter valued at about $39,000. Industrial Alliance Investment Management Inc. bought a new position in AMETEK in the second quarter valued at about $42,000. Princeton Global Asset Management LLC acquired a new position in AMETEK during the third quarter worth about $44,000. Finally, Anchor Investment Management LLC boosted its stake in shares of AMETEK by 366.1% in the 3rd quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock valued at $45,000 after purchasing an additional 205 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

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.