AMETEK, Inc. (NYSE:AME) Plans Quarterly Dividend of $0.28

AMETEK, Inc. (NYSE:AME) declared a quarterly dividend on Thursday, May 9th, RTT News reports. Investors of record on Friday, June 14th will be given a dividend of 0.28 per share by the technology company on Friday, June 28th. This represents a $1.12 annualized dividend and a yield of 0.66%.

AMETEK has raised its dividend by an average of 11.6% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. AMETEK has a payout ratio of 15.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AMETEK to earn $7.46 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 15.0%.

AMETEK Trading Up 0.4 %

Shares of AME opened at $169.90 on Friday. The firm’s fifty day moving average is $179.07 and its two-hundred day moving average is $166.70. The stock has a market cap of $39.33 billion, a PE ratio of 29.86, a price-to-earnings-growth ratio of 2.66 and a beta of 1.21. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. AMETEK has a 52-week low of $136.89 and a 52-week high of $186.32.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.05. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the company earned $1.49 EPS. AMETEK’s revenue was up 9.0% compared to the same quarter last year. Research analysts forecast that AMETEK will post 6.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AME. Truist Financial initiated coverage on AMETEK in a research note on Thursday, March 14th. They set a “buy” rating and a $210.00 price objective on the stock. KeyCorp raised their price objective on shares of AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Robert W. Baird dropped their price target on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Royal Bank of Canada reduced their price target on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $179.80.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,400 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $180.59, for a total transaction of $252,826.00. Following the sale, the director now directly owns 28,054 shares in the company, valued at approximately $5,066,271.86. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Thomas A. Amato sold 780 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total transaction of $141,960.00. Following the completion of the transaction, the director now directly owns 10,240 shares of the company’s stock, valued at $1,863,680. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven W. Kohlhagen sold 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $180.59, for a total transaction of $252,826.00. Following the sale, the director now owns 28,054 shares in the company, valued at $5,066,271.86. The disclosure for this sale can be found here. Insiders have sold 59,881 shares of company stock worth $10,689,758 over the last three months. Company insiders own 0.61% 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.