AMETEK, Inc. (NYSE:AME) CFO Sells $5,070,370.00 in Stock

AMETEK, Inc. (NYSE:AME) CFO William Joseph Burke sold 27,400 shares of AMETEK stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $185.05, for a total value of $5,070,370.00. Following the sale, the chief financial officer now directly owns 106,512 shares of the company’s stock, valued at approximately $19,710,045.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

William Joseph Burke also recently made the following trade(s):

• On Monday, February 12th, William Joseph Burke sold 5,973 shares of AMETEK stock. The stock was sold at an average price of $168.90, for a total value of $1,008,839.70.
• On Wednesday, February 14th, William Joseph Burke sold 17,437 shares of AMETEK stock. The stock was sold at an average price of $168.51, for a total value of $2,938,308.87.

AMETEK Price Performance

Shares of AMETEK stock opened at $183.72 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.98 and a debt-to-equity ratio of 0.22. AMETEK, Inc. has a twelve month low of $133.12 and a twelve month high of $186.32. The business has a 50-day moving average price of $173.80 and a 200 day moving average price of $160.81. The firm has a market cap of $42.48 billion, a PE ratio of 32.40, a P/E/G ratio of 2.92 and a beta of 1.22.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.06. AMETEK had a return on equity of 17.96% and a net margin of 19.91%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the firm posted $1.52 EPS. AMETEK’s revenue was up 6.1% compared to the same quarter last year. Sell-side analysts predict that AMETEK, Inc. will post 6.82 earnings per share for the current fiscal year.

AMETEK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 8th will be issued a dividend of $0.28 per share. This is a boost from AMETEK’s previous quarterly dividend of $0.25. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Thursday, March 7th. AMETEK’s payout ratio is currently 19.75%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AME. Truist Financial began coverage on AMETEK in a research report on Thursday, March 14th. They set a “buy” rating and a $210.00 price target for the company. KeyCorp lifted their price objective on AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. Finally, Royal Bank of Canada reduced their price objective on AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $180.78.

Institutional Trading of AMETEK

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AME. Cambridge Investment Research Advisors Inc. increased its holdings in AMETEK by 9.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,306 shares of the technology company’s stock valued at $573,000 after buying an additional 376 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in AMETEK by 12.7% in the first quarter. Lord Abbett & CO. LLC now owns 84,481 shares of the technology company’s stock valued at $11,251,000 after buying an additional 9,510 shares during the last quarter. Prudential PLC purchased a new position in AMETEK in the first quarter valued at $591,000. Cetera Investment Advisers increased its holdings in AMETEK by 45.1% in the first quarter. Cetera Investment Advisers now owns 2,974 shares of the technology company’s stock valued at $396,000 after buying an additional 924 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in AMETEK by 41.7% in the first quarter. Sequoia Financial Advisors LLC now owns 2,379 shares of the technology company’s stock valued at $316,000 after buying an additional 700 shares during the last quarter. Hedge funds and other institutional investors 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.