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. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.66%.

AMETEK has raised its dividend payment by an average of 11.6% per year 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. 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 Price Performance

AME stock opened at $169.14 on Thursday. The firm has a 50 day moving average of $179.26 and a 200-day moving average of $166.69. The company has a current ratio of 1.11, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. AMETEK has a 12 month low of $136.89 and a 12 month high of $186.32. The firm has a market capitalization of $39.15 billion, a P/E ratio of 29.73, a price-to-earnings-growth ratio of 2.66 and a beta of 1.21.

AMETEK (NYSE:AME) last announced its earnings results 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 business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the business posted $1.49 earnings per share. AMETEK’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, sell-side analysts predict that AMETEK will post 6.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Robert W. Baird dropped their target price on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research report on Monday. Truist Financial assumed coverage on shares of AMETEK in a research report on Thursday, March 14th. They set a “buy” rating and a $210.00 target price for the company. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Royal Bank of Canada dropped their target price on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Finally, KeyCorp lifted their target price on shares of AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Four 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 an average rating of “Moderate Buy” and a consensus price target of $179.80.

Insiders Place Their Bets

In other AMETEK news, Director Thomas A. Amato sold 780 shares of AMETEK stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total transaction of $141,960.00. Following the transaction, the director now directly owns 10,240 shares of the company’s stock, valued at $1,863,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Thomas A. Amato sold 780 shares of AMETEK stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total value of $141,960.00. Following 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 legal filing with the SEC, which can be accessed through this link. Also, CFO William Joseph Burke sold 17,437 shares of AMETEK stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $168.51, for a total transaction of $2,938,308.87. Following the completion of the transaction, the chief financial officer now directly owns 101,709 shares in the company, valued at $17,138,983.59. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,881 shares of company stock valued at $10,689,758. 0.61% of the stock is currently owned by corporate insiders.

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.